Need ideas, suggestions on an investment

I'd like to hear some suggestions for an investment vehicle that fits my situation the best. A little background on the situation: in my mid 20s, have 401K, IRA, and real estate investment (a real long term one, currently doing poorly). Since all my money have been going into those long term things, I really haven't done anything for the short or intermediate term, which I have a desperate need for--I'm in the process of starting my own business so I anticipate a big need for cash (even just for living expenses while I'm starting and having no income for possibly 6months-1 year). So the question is, what are the best options to invest money in while I still have a salary now?

I'm not very proud of this but I'm just beginning now to put away for an "emergency fund". Although I'd rather have only 3-4 thousands of it in a bank account and have the rest invested in some mutual fund or anything else you might suggest. If the answer is mutual fund, I'd also like some suggestions or tips picking the funds (would like to try no-load to maximize the return but not sure how to pick and where to start....)

Any suggestions would be appreciated.

so you are asking whats the best way to invest money that you will need for the short term?

the experts on here will tell you an ING high yielding savings account.


What is the situation with the real estate investment? If that is a money drain, you may want to rectify that situation before going a year without a salary

Thank you for your response, articledon. (good point on the real estate, per my findings, not wise to sell now but I'm watching...will see how it goes, keeping fingers acrossed there...)

Is a high yield savings account the only/best option? I'm going to be working up the number I put into that account and in case of an emergency, not all of it needs to be accessible immediately all at once (and that emergency need might never come if things were to go well). In addition, I do have a savings account where I'll be keeping a few thousands dollars for immediate access if needed.

So I'd like a better return on the rest of the funds which I might or might not access any time soon. Any other suggestions?

If I were to do mutual funds, what are some recommended choices from experience?

Thank you.

Personally I like index funds. I own 3 preix pexmx, and pieqx
preix-Large cap blend, pexmx - mid cap blend, pieqx - international large cap blend.

I dont really have fancy investments like some do but they seem to do the job.
low fees and they follow the broad market. But I am no financial advisor and I am not making any reccomendations

Again, investing for the short term may not be the best option. There alot of isues right now that may make the short term market rocky. So I say stick with the savings account.

higher return is also at a higher risk.