Question

If someone had $5,000 and wanted to place it in a financial institution, what type of institution and account would you suggest to the person? What factors would you ask the person about before making your recommendation?

Answer 1

If someone had $5,000 and wanted to place it in a financial institution, what type of institution and account would you suggest to the person?
-12 months or less then a savings account.
-2 year or more then open a no load mutual fund account with a financial institution such as Charles Schwab.
-5 yrs or more then purchase some stock