Quick Wealth Network

investing????

i want to invest 500-1000 dollars a month for 5 years and want to have it compounded monthly with 10 % interest? is this possible with any bank or do i need to have a greater amount invested per month? any suggestions would greatly appreciated

Public Comments

1. That's a nice dream. Good luck finding 10% at a bank. Most banks are offering about 1 to 1.25%. After posting I thought maybe I sounded a bit flip -Sorry. You should open an account at Fidelity or T. Roe Price or any big mutual fund company. Mutual funds may get you close to the 10% you are looking for but not without some risk. Much better than the stock market however.
2. the 10% interest and the compounded monthly are impossible at least here in the US. No bank would do that.
3. Keep dreaming, you will be very lucky to find a bank at 4% right now, but a bank offering that much will probably want to lock you in for 18 months or more.
4. you are on the right track but you will never get a return like that.. investing first you want to be safe .. the only way is to buy a government bond.. i e treasury notes. now they limit you to 5 thosand a year for each type.. you will never get 10percent interest . but 4 ro 5 percent is the return on a i bond and you have to keep it for 5 years...http://www.treasurydirect.gov/ check out the treasury they have close to what you want.. like buying one years cd 6 month cd 3 month bond.. please dont go to money market you are not insured and many have lost their life savings.. stay away from the stock market.. what i suggest is a low rate of return.. but you wont loose your investment. ok