Hello,
I am thinking of opening a fidelity brokerage account since I have a sum of money that I plan not to spend for about 1-2 years (about 40-50k) and was thinking what would be the best way to invest that amount?
Money Market Fund ? I am reading about different options such as SPAXX, FDRXX, FDLXX, etc. but not sure which one to pick. I am trying to pick one that has good liquidity, has high return, and doesn’t get taxed by state/local.
I am also exploring the T-Bonds and T-Bills options… but again I am new to this and am still learning. Is there any T-Bonds/Bills that offer advantages over the others? Which one do people generally buy and has good return? The 3 or 6 months maturity? Or do they have a specific symbol name?
I am also reading and trying to understand CDs also. Are those preferable over T-Bills/Bonds? Any ones that are sort of recommended and go tos? Which are the most popular ones and any advantages/disadvantages I should be aware of?
Or if there are better ways to invest that money – please let me know. I am new to this and still learning.
Thank you.
original posted by paulbisha5055 to r/personalfinance on Sat, 09 Mar 2024 23:25:39 GMT.