Certificates of deposit (CD) are a savings tool that usually offers higher interest rates than traditional savings accounts. CDs are low-risk and have fixed rates and terms that can provide predictable returns at maturity. What to Consider When Shopping for a CD Considering your savings goals will help determine what rate, term, and type of …
What to Consider and What You’ll Need to Open a CD Read More »
Certificates of deposit (CDs) and high-yield savings accounts are generally a great place to store excess cash while earning more with higher-than-average interest rates. But what truly differentiates the two is how the interest rate is set and the accessibility of your cash. What is a CD? A CD is a low-risk account that offers …
CDs vs. High-Yield Savings: What’s the Difference If They Both Offer Competitive Rates Read More »
Government-backed deposit insurance protects money in deposit accounts in the unlikely event that a bank or credit union fails. Banks are insured by the Federal Deposit Insurance Corporation (FDIC), while credit unions are insured by the National Credit Union Administration (NCUA). What is the FDIC? In response to many Americans who lost their life savings …
FDIC vs. NCUA: What’s the Difference and Is One Potentially Better Than the Other? Read More »
As some of you may be nearing retirement, you’re probably thinking about the best way to maximize your retirement funds in the home stretch. IRAs (individual retirement accounts) are a great strategy for your retirement savings and with the current state of interest rates (5% and above) placing your IRA funds in a CD (Certificate …
Don’t Wait Until April to Make Your IRA Contribution Read More »
Certificates of deposit (CDs) and bonds are known to be low risk as they typically are designed to return your principal, generally pay higher interest rates than traditional savings accounts, and offer fair returns. You’re able to tuck away excess cash, watch it grow at a set term and interest rate, and be confident that …
Bonds vs. Certificates of Deposit (CDs): What’s the Difference Read More »
The Federal Reserve has been hiking federal funds rates since 2022 – a total of 11 rate hikes, a solution the central bank hopes can slow down the economy enough to moderate price growth. In 2023, more financial institutions were offering CDs and competition continued to grow which has been good for savers. In 2023, …
2023: Year of the CD (Certificates of Deposit) Comeback Read More »
Landing on the right Certificates of Deposit (CD) that will help you earn more while you save, takes research, shopping around for rates, and making sure you have terms that align with what you want to financially achieve by a certain time. Don’t get us wrong, CDs are an easy low-risk way to reach your …
Three Strategies to Help Optimize Your CDs (Certificates of Deposit) Read More »
Whether you’ve been keeping an eye out on the current interest rates or not, we all know that the greater the interest rate, the greater the potential we have to earn more. Fortunately for us, Certificates of Deposit rates are rising, but the important question is why is that happening and what does that mean …
CD Rates Are Climbing – Here’s How It Affects You Read More »
For those who’ve been keeping up with the current rise in interest rates and shopping around to take advantage of the best CD (Certificate of Deposit) rates, you may have noticed some of the highest rates – 5.50% APY and above – are often from credit unions. Why do credit unions pay higher CD rates? …
When do we not think about taxes? We certainly think about taxes when we consider how we invest our money. And taxes are also top-of-mind at the end of the calendar year. Certificates of Deposit (CDs) have gained popularity this year, given their low risk and high return relative to other options. But as you …
Taxes and Certificates of Deposit: What You Need to Know Read More »
