Need my money to work for me

[Brandon Phillips]

Sitting on $20k right now, not ready for income property. Any suggestions where i could invest it to get a better rate of return (not savings)for time being? Would like to purchase my first property within the next 12 months so don't want to tie that money up in say an IRA.

[Aaron Nelson]

@Brandon Phillips - If you’re planning to use the money to purchase an investment property in the next year, I’d look into a high interest savings account. Google “high interest savings account” and several results will pop up. Most financial gurus agree that one year is too short of an amount of time for you safely invest in paper assets (stocks, bonds, etc.). If the market takes a significant dip, you could be out a large chunk of your Downpayment money and you may have to delay your housing plans. Just my two cents. A short term CD is another option as an earlier post noted.