With grumblings about the fiscal cliff and an economy that is still recovering from big bank woes, people are wondering where to put their money for savings and investment. Even with the economical ups and downs, there are still a lot of good investments out there if you take the time to look around. From time to time the general economy will be bumpy, but there are still business that are doing well, housing markets that are holding steady, and companies that are growing and could make good investments.
Municipal bonds are “debt obligations” that are issued by governmental entities that are used for building roads, schools, hospitals, and other things for the local community and public. Some current municipal bonds that could be good for investing include:
- BlackRock MuniYield PA Qly- traditional close-end fund that aims to provide high level of current income that is exempt from PA and federal taxes.
- SPDR Nuveen Barclays Bld Amr Bd ETF- exchange traded fund and according to The Street it “seeks to provide investment results that correspond to the price and yield performance of the Barclay’s Capital Build America Bond Index.”
- Minnesota Municipal Inc Portfolio- this bond is currently doing well and also provides high current income exempt from both federal and state income tax.
Stocks are still a good investment, and you don’t have to already be rich to get in on some good buys. Artic Cat is a good example as manufacturers of snowmobiles and all-terrain vehicles they are looking fairly solid as an affordable investment. Seeking Alpha records the price target for around $55 but it is expected to have a 55-60% gain on the investment. They are expecting some consistency in the company because of a high demand for their products. This could be a good option to talk to an online investment broker about so you can jump in at the start of the New Year.
Sometimes while you are trying to figure out where to put your money for growth, it can be good to simply place it into savings. With a little research on the best interest rate savings accounts you can find a safe place to put your money and gain a little interest at the same time. Some of these options right now might be:
- CIT Savings – 1.00% annually.
- Ally Bank- no minimum balance, 0.90%.
- Discover Bank – 0.80%.
If you are looking for something a little different to put you money into that will appreciate over time, art has traditionally been a good way to invest. In the latter half of the 20th century good art saw an increase in value by about 10.5% a year. Forbes shares that contemporary art tends to be the most volatile of the art markets and therefor offers the greatest reward. But it is best to diversify because the art markets have ups and downs of their own.
There are a lot of different ways you can invest your money. The key is to find something you’re comfortable with and allow your money the chance to make you more money.