Published on September 30th, 2008 | by Reenita Malhotra1
Is Your Money Safe Where It Is? What About Green Stocks?
Everyone is petrified of losing money in this crazy whirlwind of stock market yo-yo-ing lately. The fall of Lehman brothers has offset a downward spiral not just for financial stocks, but for stocks in general. The Dow Jones dropped 777 points today, creating a historical record.
The good news is that according to Ron Lieber, NYTimes money guru, some investments might just be safe. “Banks like HSBC Direct and Capital One are offering online savings accounts paying more than 3 percent,” says Lieber. “These accounts have all the normal Federal Deposit Insurance Corporation protections of at least $100,000. Also, the Treasury Department is currently insuring investors who had holdings in money market mutual funds as of Sept. 19, as long as the fund company pays to participate.” (NYTimes.com: Your Money, September 29 2008)
The bad news is that when it comes to investing in stocks….or wondering which stocks are going to hold up…well this is the big question that everyone is asking.
Now more than ever before, might be the time to think green when it comes to your investment strategy. The U.S. Senate has just passed extensions of crucial renewable energy investment tax credits and benefits for green tech:
- Tax credit worth up to $7,500 for buyers of plug-in electric cars
- Solar projects qualify for a 30% investment tax credit through 201
Where will you put your money?