What is the fastest way to gain interest on 10K in a bank or financial institution?

Question

I have some money saved up and I'd like to earn some interest on it.  I know that interest rates aren't high for savings account now days but I will be doing alot of traveling this year and was thinking of opening an account in another country.  I will be in the Cayman Islands next month and someone else suggested I open an account there.  Any financial gurus have advice for me??? ..  I'm just getting started out in the world with my new job and would like to save up to buy a home.

C.C. · Accepted Answer

NO, c.ds are like 2% if that. If you can hold out of cashing it in until say 7yrs from now your highest return would be a REIT (real estate investment trust)  I know Grubb & Ellis has a Healthcare REIT they just came out with (your investing in property like hospitals etc.) & its just $10 per share & it yields 7% annually. But i said 7yrs b/c you would about double your $ by then. Wells REIT, Wells Timberland REIT & Atlas energy (which is oil drilling in the ocean but its min. $10K per share. WHich is the highest return I believe in the shortest amount of time. Call these companies & they can give you free info & investment sats

Jackal · Answer

If you want easy access to your money, just check out CD rates at some local financial institutions.  Go with the best rate.

It's hard to deal with out of country banks, and you can get hurt by exchange rates.

Anonymous · Answer

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What is the fastest way to gain interest on 10K in a bank or financial institution?

4 Answers