$20,000

[jakes810]

Hello every one
I have 20,000 dollars in the bank right now and I would like to know where is the best place to put it in for at least 5 years. I dont want to put it in the wrong place and get very little. I also dont want to put it in a very aggressive place and have a big risk of loosing instead of gaining, even though i know that you have to loose in order to win.

[Ima saver]

Put it in a bank that pays at least 5% interest.

[jakes810]

in a savings account?

[Ima saver]

I have a money market account in my home town that pays 5.25% interest. Or you could look for a certificate deposit that pays more. You don't want to go into mutual funds with a short time frame.

[jakes810]

I have a mutual fund already with very little money, but does that pay good in the long run. I dont want to touch that money for at least 20-30 years.

[bigsaver]

Probably an FDIC insured account as it seems like you need the money. Try igobanking which is paying 5.3% now or amtrustdirect which is giving 5.36%.