Q&A: What To Do With 20K Bonus?
A question from "What to do with 1K, 5K, or 10K of savings and in your twenties?" Anonymous asked: So i've got 20k from a recent bonus, and won't need to touch it for about 10 months. After that I might use it for a down payment on an apartment. My money is currently sitting in a 5% savings account, but thinking about putting some of it in an higher yielding closed end bond fund. Any other suggestions for increasing my yield while not risking too much of my principal? Smarty said: If you could tolerate some risk, you may consider putting them in low-beta high-yielding dividend stocks. Do some research, you should be able to find a few companies that are expected to do well over the next 10 months. Otherwise, hunt for the highest yielding CDs. I recently opened a 6.00% 13-month CD with WaMu.
posted by Sean @ 10/30/2006 11:55:00 PM
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1: Credit history (could account to more than a third of their credit score). Whether or not they had been a good credit risk in the past is considered the best indicator of how they will react to debt in the future. To this reason, loan defaults, late payment, bankruptcies, unpaid taxes or other debt responsibilities will count against they the most. They couldn’t do much about their financial past now, but starting to pay their bills on time - starting today - could help boost their credit score in the future.
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