Lux Investing

If you have over $100,000, which high yield interests banks would you put it in for the money to keep growing?

I know ING Direct only covers up to $100,000, but what are some other banks that protect you for more than $100,000? And is investing $100,000 in stocks a good idea? I mean, I wanted to grow. thanks

Public Comments

1. I would say yes, coz currently stock market sucks so you cant really go and take the risk of investing in cash market. am currently sitting over $4 million myself and just wondering where to invest. Most of my money is parked in bank, fixed deposits or debt bonds. you might want to consider buying some gold. Good luck
2. Talk to a stockbroker, don't risk it, unless you know what your doing. A normal investment fund can get you up to 7%, thats 7K a year, not bad for a low risk investment. Shares anywhere but average 0-15%
3. It all depends on what your financial goals are, your risk tollerance and how soon you need the money. if you can go with stashing the 100k away for 10 years, absolutely put it in a diversified fund. Otherwise, if you need it in a few months, put it in a CD which will guaranteee returns. HSBC is onther high-yield savings account you can look at. Bankrate.com lists a few others - I believe Citbank and Countrywide financial may offer some good rates. Your money will be insured, so don't worry about the banks going out of business or being bought out. That won't affect you. Search online for a risk-tolerance calculator and see what your results tell you. But get financial advice from a professional before doing anything.