Re: 5K to invest
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oh okay thanks. So if i have 4K there one month it pays based on that amount but if i have 2K my interest would basically be half of that?
[/ QUOTE ]pretty much yeah. At the very least you want your money parked in a high yield savings account, money market account or bond funds. Never leave temporary savings in a low yield account if you can avoid it. I have money parked at hsbc for 5.05%, and they have a free checking account bill pay and standard nice features. I also have some in a fidelity brokerage money market account waiting to invest into stocks. But you can do billpay right out of fidelity and also buy into fidelity funds.
I'm not sure what you need to use the money for or when you need to use it by, but I'd highly recommend an ira of some sort (preferably in a roth ira). One of the benefits of a roth ira is that you can use the first 10k towards the purchase of your first home. It also grows tax free which is a huge benefit that most people don't realize how great is.
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