If I invest $6 at 0.6% interest compound daily & put $20 in every two weeks for 3 years, is it worth while? What other options are there?

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Adam C. Harding, Financial Advisor

@AdamClarkHarding • 03/28/16 This answer was first published on 03/28/16. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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This is a decent way to save, which is what you need with dollar amounts of this size. Making investments bears a cost that is typically in the form of commissions and these commissions would erode your capital significantly. While there are commission-free programs offered by large custodians, it's probably wise to use your stated plan as a savings strategy and then take the funds after three years (about $1460 by my rough estimate) and then look to implement an investment strategy.

Adam C. Harding, CFP

For informational purposes only.

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