My husband and I are looking for a safe investment for some extra cash we have accumulated. Also, do you feel municipal bond rates may be coming back to a decent return soon?
The headline on your question made me laugh. There is NO safe place to earn 7-10 percent these days! In fact, the safest “chicken money” investments earn less than 2 percent. And even a 10-year Treasury note pays only about 2.4 percent — and that involves being “stuck” for 10 years if rates go higher.
RUN from anyone who offers you a higher “safe” yield. And the higher the promise the higher the risk! I don’t know your age or stage in life but there are lots of long term investments, which do involve risk, that you could make. Or you could leave the money in the bank, or in short term Treasury bills (www.TreasuryDirect.gov) and be 100 percent sure of not losing a penny!