Q I am 56 years old. I got out of housing before the market fell. I sold my house. I stayed out of the stock market over the last seven years, so I didn't make or lose money. I was content with small but safe money market accounts. But I don't know what to do now. I have in excess of $250,000 that I could invest.

My banker thinks that I should get some money-market linked CDs. There is 100 percent principal protection on FDIC coverage to applicable limits, and "opportunity to participate in the leverage potential appreciation of equally weighted BRIC foreign currencies." Is this a good idea? I am looking at finding an investment that would be FDIC insured but still pay a reasonable 3 to 5 percent. I would consider something more aggressive if it still felt safe.

ANNE, MINNEAPOLIS

A The interest rates on safe savings are paltry. It's hard to get much more than a fractional rate of interest on savings accounts, certificates of deposit, savings bonds and Treasury securities. Little wonder many of the questions I get for this column involve the desire for higher yields without abandoning the security of the federal government's full faith and credit. Yet in most cases my suggestion is to stick with safety.

Take the BRIC foreign currency market-linked CD. BRIC is shorthand for the world's largest developing nations -- Brazil, Russia, India and China. There are a number of compelling reasons why investors are intrigued with the BRICs. I'm definitely fascinated. These are four dynamic emerging markets with large populations. Their emergence is reminiscent of the United States after the Civil War, when America's industrial output lagged far behind that of Germany, France and Britain. Yet from 1870 to 1914, America's economy expanded five-fold.

Growth is picking up in China and other Asian nations. These economies have weaknesses, too. The watchdog group Transparency International ranks all four as dealing with disturbingly high levels of corruption in its Corruption Perception Index. Investing in BRICs isn't for the faint of heart or the conservative investor seeking a slightly higher return.

In your case the risk would be limited, as the money-linked CD guarantees your principal. Still, yoking a CD to taking a flier on a frontier speculation doesn't pass the common sense test to me. I'd still focus on building a short-term diversified portfolio of government-backed savings. Later, if you do want to take on more risk, it seems far better to put a sliver of money into a blue-chip, high quality investment, perhaps a low-fee equity index fund or a corporate bond fund. Stick with quality, no matter what.

Chris Farrell is economics editor for American Public Media's "Marketplace Money." Send questions to cfarrell@mpr.org.