If you have $3000 to invest,but could need the money at any time in the next year,you should

Question

Quizplus · Accepted Answer

Since the investor might need the money at any time within the next year, it is not recommended to invest in a one-year closed GIC or a mutual fund. These options usually come with penalties or fees for early withdrawal. An asset allocation mutual fund may not be the best option for short-term needs as it is meant for a long-term investment. Thus, the best choice would be to put the money in a liquid short-term interest-bearing investment like a high-yield savings account or a money market account that offers better returns than a regular savings account while allowing easy access to the funds when needed.

If You Have $3000 to Invest,but Could Need the Money