Where to put 70K

[Pointing1]

Question - you have about R70,000 excess which you will only use 5-6 months from now where would you put it...to get a reasonable return without taking too much risk

 

[Geriatrix]

Money Market probably.

 

[dlevine]

agreed. But a unit trust run one and not a bank one. Same risk, higher return

 

[Pointing1]

yep but which MM product

 

[Geriatrix]

agreed. But a unit trust run one and not a bank one. Same risk, higher return

Yeah but keep an eye on those costs and charges.

 

[ice_cubes]

Question - you have about R70,000 excess which you will only use 5-6 months from now where would you put it...to get a reasonable return without taking too much risk

In my bank account

/jokes

 

[russellO]

http://www.capitecbank.co.za/personal-banking/save/rates

Quick comparison off top of my head: Capitec Fixed Term Savings Plan / Lump Sum Option would give you 6.2% (goes higher with longer periods) where Momentum Money Market Fund is only 5.88%.

 

[D3x]

Maybe try the Investment Advantage account from ABSA. I hear its not to bad.

 

[jacksonc]

Getting a return of around R2,000 after 6 months is rather not worth it for both money market and fixed term. I'd rather keep it in my account

 

[dlevine]

Prudential money market or RMB money market.

 

[somewherenotthere]

Most schemes are currently quite volatile especially on the short term as you are.

So look for something that has low downside risk or preserves your principle amount.

I am not currently familiar with most firm's offerings but something that has a reasonable amount in gold and bond issues will probably be quite solid at this time.

Property is still in a bubble imho... So even if it looks stable i would be weary of funds which have a lot weighted in property.

Anyway i am probably bringing up stuff that is not important to you...

So just look for something stable/guaranteed i guess.

Sent from my GT-I9100

 

[russellO]

Prudential money market or RMB money market.

RMB Unit Trusts have joined forces with Momentum. It all now belongs to MMI on the JSE. if you try got to RMB Unit Trust site you will be taken to www.momentuminv.co.za and all their funds have been renamed to Momentum xxx Fund.

 

[Freshy-ZN]

If you want it in a few months do not commit to anything. Better to put in a bank account that earns Money Market rates not a Money Market fund.

Sanlam Liquid Account is such an option.

Note: Proper financial advice can only be given with full disclosure of information. This info is generic.

 

[Ecco]

Love these threads.

Always a flurry of options presented to the OP - for some people it may actually make their lives more complicated because they didnt even know there were that many options available.

OP, please let us know what you eventually went for, have not seen to many of these types of threads where the OP enlightened us with the option he/she chose.

 

[ISP cash cow]

put it in a strippers bra.. the interest raised is immediate

 

[Pointing1]

put it in a strippers bra.. the interest raised is immediate

I tried this the last time didnt work out

 

[techead]

hedge fund ftw

 

[semaj]

If you're keen for some risk invest it in shares. Stocks are very cheap at the moment and it's probably 50:50 whether they'll start recovering in a few months.

 

[KaMoS]

The best savings interest rate at the moment is RSA retail savings bonds. Get some ;-)

 

[Ockie]

http://www.capitecbank.co.za/personal-banking/save/rates

Quick comparison off top of my head: Capitec Fixed Term Savings Plan / Lump Sum Option would give you 6.2% (goes higher with longer periods) where Momentum Money Market Fund is only 5.88%.

I think I would go with this also.

They even give me 6% on my normal transaction account and on my savings account that I put the little bit that I might have left after every month.