Where is the best place to put my money?

I recently got a huge bonus- around $30,000. It's in the bank. I do not trust the bank however, as I feel the economy is in real trouble. Maybe i'm just being paranoid, I don't know, but I could see the banks shutting down. A friend of mine suggested I invest in gold, because that will always be worth something, even if we hit a great depression and money is worthless.

Please, someone wise on this subject, advise me what to do with this money. I know I may sound paranoid, but I just need to make sure the money will be safe but accessible. Is it better to just bring it home and put it in a safe?

It's a place to keep it safe short term. I have a terminal brain disease, so long term planning would be pointless.

What do you want it for? Long term? Short term?

Long term- I would put towards a Roth IRA in April because then the contributions go up to $5,000 for those under age 50. Then, I would establish an emergency fund such as a high yield online savings account or money market fund. After that, I would purchase an index fund, growth stock fund, income stock fund, international fund, and a bond fund, perhaps putting them all inside of a low-cost annuity for tax-deferred savings. Lastly, if it were me, I would consider laddering a 1, 2, 3, 4, and 5 year CD. That's called laddering.

Invest in income property. It pays you money. Gold just sits there.

From my personal view, I think the smartest way to go would be to either put it in many stocks so you dont necessarily loose much but dont gain much either.

The other option is a mutual fund, which basically is the same type of thing but is better for someone who doesnt really know how to deal with stocks. You have someone who deals with the money or you, its usually very good for a lot of money, because you almost always gain a profit, but the put down is you can't take it out for around 5 to qo years, im pretty sure.

And I believe the third option would be to invest in gold because from what you said it sounds lke a decent idea.

Well I hope I helped ;)

Although there are many good investment opportunities let me address you initial concern. The banks are safe!! Your account is insured by the Federal Government(FDIC) for $100, 000. If your bank closes you get your money. If you have over $100,000 you can open accounts in other banks or a joint account with a spouse, etc. Each account stands separate so each would be insured up to $100,000

In theory, the fed keeps cutting interest rates (which is what is expected) then this will entice the public to seek cash as investing becomes less lucrative. An increase in money supply causes more inflation and consequently gold to go up. GLD is a fund that mimics gold prices.

Consider the Vanguard Prime Money Market Fund with a current compound yield of ~4.7% APR. https://flagship.vanguard.com/VGApp/hnw/...

If you are in a high tax bracket you may prefer their tax exempt money market funds: https://flagship.vanguard.com/VGApp/hnw/...

Sometimes other institutions will have a higher teaser rate, but Vanguard tends to have the highest yields I've found over the long run. (Vanguard money markets are not FDIC insured, however.)

Article on teaser rates:
http://www.marketwatch.com/news/story/ba...

ING and HSBC often have rates close to Vanguard, and most of their products are FDIC insured. Bankrate.com provides links to CD's with high interest rates. You can check these at the following links:

http://home.ingdirect.com/

http://www.us.hsbc.com/1/2/3/personal/sa...

http://www.bankrate.com/