Use our handy calculator to assess your risk quotient . It might be helpful to not even think of these as investments at all, but as savings. After all, your main goal here is to protect, or save, your money until you need it. These accounts offer the lowest of returns, usually a paltry one to two percent, but great convenience. You can open an account with very little money, and get to it easily whenever you need it.
Money market accounts.
These are a lot like savings accounts, but usually require a higher minimum balance. They offer check writing, although you'll be allowed only a set number of checks each month. They're rate of interest is slightly more than savings accounts. Certificates of Deposit. Since they offer a predictable rate of return, you'll always know in advance what you'll have.