What's the best way to gain intrest from the Bank?
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The answer here depends to some degree on how much of a risk you're looking to take, and how quickly you hope to get the money back. If you want to be able to get the money back anytime with a lowish interest rate (< 5%), I'd simply put the money in an account with ING Direct. If you don't mind investing it, with a risk of losing it, stocks, mutual funds, or even bonds can work, and generally get higher returns. BUT you may lose money too.
There's no one answer, but those are some options. If you don't know quite what you want, keep the money in a ING account until you decide, at least it'll earn some money while you think it over.
ETFs or Mutual funds being as they are safer.. Kinda split the money up though. Like $5,000 in a CD for 1 year, then $10,000 in a money Market fund. and $5,000 into mutual fund or ETFs. Don't let it sit around and loose purchasing power.
Keep the eyes open, look around for an opportunity or you identify your ability and interest. Maybe you can operate a business relating to your interest. If you still want to invest, try exploring the possibilities in the Forex market.
Cheers.
Go to bankrate.com and find the highest interest rate for the amount of time you want to tie your money up, in a bank CD. Then relax and think about it for a good long time. At the end of that time, you'll have a better idea of how much money you want to protect (guaranteed returns, like bank interest) and how much you want to gamble (stock market and mutual funds).
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