I’m on the board of a small nonprofit - my neighborhood HOA, actually. We’ve got a decent amount in savings, and we’d like to put an amount in the upper five figures in a safe place that also gets a good return.
‘Safe’ meaning we’re running no risk of losing the principal. So an index fund of stocks would be right out, but an index fund of AAA-rated corporate bonds would be in our wheelhouse.
‘Good’ meaning by the standards of safe investments as just described. A quick check tells me that short-term Treasuries are trading at ~1.5%, so I figure that’s a floor for something that’s extremely safe but the money’s still accessible.
So stuff that’s not government-safe but still quite safe must be out there, that pays a somewhat better interest rate, right? I’m not expecting 5% (hell, I’m not expecting 3%) but hopefully better than 2%, right?
And for whatever investment, do we need a broker, and are there fees, and all that? Help educate a neophyte here.