What Is the Best Way to Invest $2000? by: Riley Francis, Steven Wenzel, and Rebecca Ramirez

Certificate of Deposit: Money is held and is safe while it gains interest for a set amount of time then can be withdrawn. Money Market Account: Generally high rates of interest but require a large amount of money to be in there to avoid monthly fees. Different Investment Options

Individual Retirement Account: Type of account used to save money and gain interest for retirement. Usually a set portion of your salary is put in every month, and it generally is not touched until retirement. Savings Account: Account through money can be added or withdrawn from the account (usually) at any time without cost to do so, may require minimum to open/maintain account. Different Investment Options Cont.

What Needs to be Considered Interest rates (change or constant) When you can access your money IRAs and CDs (occasionally) have a set time when one can access the money Savings Accounts usually open for access to the money at any time without penalty Minimum balance/deposit FDIC Insurance Tax deductible (Traditional v. Roth IRAs) Whether you want a credit union or a regular banking institution.

Credit unions are interesting because if you invest with them they allow you to actually be part of the company so the company is actually owned by the customers. This is nice because each customer has a vote that counts equally in deciding company policy and business. Credit Union Explained

Our Recommendations Savings Account Morgan-Chase Bank: .01% -compounded monthly Certificate of Deposit Frost Bank: .40% -compounded annually

Money Market Frost Bank: .10% -compounded annually Individual Retirement Account Morgan-Chase Bank: .25% -compounded semi-annually Our Recommendations (Contd.)

Doubling Your Money How long would it take to double your money in each of these investment options? Savings Account: 6,931.5 years Certificate of Deposit: 173.6 years Money Market: 639.5 years IRA: 277.4 years

If you add $300 every month to your starting $2,000, how long would it take to reach $10,000 in each banking institution? St. Joseph's Credit Union: Real Life Application