I’ve recently been thinking about buying a house and need to try to get the money together for a deposit. Ideally, I’d like to save for a home while earning more money. What’s the best way to make the most interest on money short-term? -Homeless in Hospital Hill
I get questions like this all the time. People will always give the standard, traditional financial advice here: Money Markets, Certificates of Deposits, things like that. But you want fast results now, right? I mean, if you wanted to see a steady upward trend on your money with zero risk, you’d just do one of those things. So I’ll let you in on something, a little connection I have: I frequently receive emails from a Nigerian Prince who’s looking for investors in his top-secret, instant millionaire venture. His business is so safe that every time I open one of his emails my computer shuts down for a week. Unfortunately all of my personal finances are already tied up in the burgeoning online cat video industry, but if I was liquid right now that’s what I would do.
[ed. note: Do not, under any circumstances, try this at home, take this advice seriously, or contact a Nigerian Prince for investment advice. EVER. We post the Ask Mike series because we enjoy making fun of him, not because he has good ideas.]