Dear Quentin, I have a question that might appear like a simple one, especially for all the advanced money-management folks out there and for people with more money than I have. I am 50, have very little savings, and I would like to invest $50,000. What is a good type of account to start with? Where can I get a 5% or 6% interest rate?
I would like to be able to withdraw the money if there is an emergency, add to it at will, and be able to monitor it. Forgive my ignorance on the subject. I own a home, have become a business owner and now, hopefully, I’ll be doing a little investing. I just don’t have a clue where to start. I currently have the whole amount in regular banks. First-time saver and investor Also see: CDs at 6%? How high could they go?Dear First-time, Ignorance has nothing to do with it. Even Warren Buffet makes mistakes. You’re not alone in not knowing where to start. The financial world does not make saving and investing easy. People are put off by financial jargon. Not all Americans are confident about even common financial terms such as “index fund,” which is a fund that tracks a specific set of investments; “stock options,” a company benefit allowing employees to buy shares in the company at a specific price; or “Roth IRAs,” retirement accounts that typically offer tax-free distributions. You could simply opt for a high-yie …
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