I have to make my IRA deposit before April 15. What is the best place to park $12K right now?
With the stock market in the tank. I am looking for someplace to put my IRA money for tax year 2008 that is relatively safe and easy to move to another investment when the time is right.
Answers
457 points
SallyG answered 9 months ago …
The easiest and most flexible is in a money market account. That gives yu time to research what options are available. I would go with an established name such as Vanguard, Charles Schwab, Fidelity, etc, which have mutual funds, stocks, and other investment choices. They all have online sites for research; I like Fidelity's 24-hour telephone service; a representative is always available to help with the finer points of trades, to supply analyst recommendations/consensus, headlines, etc. You can trade online, via automated telephone system, or with a representative (different commission levels).
Read more from SallyG265 points
fuzball answered 9 months ago …
For ultra safety, U.S. short term T-Bills, or Funds that only invest in short term U.S. Treasuries, if they are available options in your IRA account. These are "safe havens" for those undecided as to where to invest in this wacky market. You will not lose a dime here, but will not make money either. Strictly for iron-clad safety, if that's what you're looking for.
In a self directed IRA I believe you are able to manipulate your funds more freely, within the overall limits of same. In this case, a Fund invested in U.S. Treasuries only affords a better option than short term Treasuries bought direactly from the Fed, in that you have instant access to your funds in that account, may write checks against that account should you have an inclination to "test the waters" with a portion of your safe money.
