Where should I put my money?

Where can I put $138,000 to earn the best rate? The best rate seems to be around APY 1.50% +- I thought I be able to at least earn 3% somewhere. I am looking for something safe where I could withdraw the money without penalty if I need to.

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  • ?
    Lv 4
    1 decade ago
    Favorite Answer

    Stocks on the DowJones Utilities list are paying an average of 6 percent dividends now. You could have done better 6 months ago, but this is something to look at. Utilities stock have behaved pretty well in this recession.

    Look at HE, FE, DUK, LNT, AEP, AEE, D

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  • 1 decade ago

    Ally Bank (ally.com) has a no penalty 9 month cd with a rate of 1.75%

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  • 1 decade ago

    you'll be lucky to get 2% on a safe investment due to current interest rates.

    Look at bankrate.com it will tell you what interst rates banks pay (CD, savings, money market accts) along with any acct minimum and fees.

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