Ally bank for cash; their money market pays a decent rate. Its all automated tho. PS Ally was formerly known as GMAC. www.ally.com
Good idea by Willie.... I happen to know one of those folks, quite intimately! But dont yet, ask wifie to define "gamble".
Rates have collapsed again Rick, meaning the rates on guaranteed safe investments. Six months ago, the TD Ameritrade inventories were choc full of 3% 2 yr cd. The ten year treasury was 2.7%. NOW the 10 yr treasury is 1.7% and you can't hardly find a 1.5% CD. All this while inflation runs at near 2%. Yup, today's CD rates GUARANTEE your money loses its purchasing power long run. Yet, you get 100% safety short run.
The trouble also is, when rates collapse, all financial assets get bouyed, or inflated. So now you have 1.5% CD and stocks that are nearly exhausted , stretched as far as valuations will allow, or close.
So, its a hard time to put money to work, either risk-free, or some risk, due to external factors.
Once again, a money market fund from Ally yields 1.60% with daily liquidity and FDIC insurance. GREAT place to park cash while you go Chevelle hunting!
In the meantime, dial up Vanguard's WELLINGTON fund. You and wifey take a look at it. I wonder if she would consider it a "gamble". It is a very good balanced ( 60% stocks/40% bonds) fund. But look at the downside it has shown; see what she says. Hardest part is to define risk. Once you do, investing becomes easier.
To that end.....
I'll be doing these with my investment class tonight; its not a bad excersize you that and the Mrs might take a few minutes to do. That way if you do meet with someone, you can say " we already started working up our Investment Policy!", as that is what the questionnaire starts for you, a policy on how you prefer the funds invested. https://www.schwab.com/public/file/P...stionnaire.pdf