If someone had $5,000 and wanted to place it in a financial institution, what type of institution and account would you suggest

Question

Liono4ka [1.6K]

3 years ago

6

If someone had $5,000 and wanted to place it in a financial institution, what type of institution and account would you suggest

to the person? What factors would you ask the person about before making your recommendation?

Business

1 answer:

Semenov [28] · Answer 1 · 2022-03-10T13:34:17+03:00

<span>If someone had $5,000 and wanted to place it in a financial institution, what type of institution and account would you suggest to the person?
</span>-12 months or less then a savings account.
<span>-2 year or more then open a no load mutual fund account with a financial institution such as Charles Schwab. </span>
-5 yrs or more then purchase some stock