We all dream of being financially secure and most of us often wonder how we can achieve this security in the shortest time possible. Keeping this in mind, we will get right to it – respecting the spirit of quick returns. Got it?
Here are top 6 simplest short term investment options.
#1 Take advantage of credit card cash back rewards
Credit card cash back rewards are an opportunity for easy and quick money that most people do not know about. It is often not a direct cash investment but rather a benefit you get when you spend actual dollars. It is quite a lucrative offer if you think about it.
#2 Opening a money market account
If you are looking for a quick and risk free way of getting a good return out of your money then you need to consider a money markets account. Currently christened as the savings account on steroids. In this type of account, it is the amount of money in your account that determines the return not the length of time you have invested the money.
#3 opening an online savings account
Online savings accounts currently offers some of the best risk free returns in the market. The beauty is that all you have to do is deposit your savings into the account and watch it earn interests. The interest rates are not that high but since it is risk free, it is worth it.
#4 Consider the Certificate of Deposits
The beauty of a Certificate of Deposit (CD) is the fact that you have the freedom to determine the length of the investment period.The bank will offer you a selection of terms and it is up to you to pick the one that works best for you. The size of the return is fully dependent on the terms you will agree on.
#5 Open an online checking account
As is the case with the online savings accounts, you can also get certain financial benefits from using online checking accounts. The beauty of checking accounts is that you are not limited in terms of withdrawals you can make. The only disadvantage is that the interest rates are quite low. But, that is generally what you get with low risk investments.
We know there are plenty more short term investment options available and we would appreciate if you could share your ideas for the benefit of our readers.
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