Posted On: February 16, 2020 by Success Bank in: Personal Finances
The CD Ladder: A Safe Way to Grow Your Money Written by Nathan Woolard Looking for a safe, long-term savings option that still gives you access to your money at regular intervals? CD laddering might be right for you. A CD (certificate of deposit) allows you to deposit funds into an account for a specific amount of time at a fixed rate. It’s a secure place to save your money and earn some interest, but it might not always be the best choice for your needs, so weigh your options to see what benefits you can expect. The most obvious reason to open a CD, especially long-term CDs, is that they generally pack higher interest rates than other savings and money market accounts. They also offer fixed rates, which means that you’ll keep earning the same amount even if rates drop. Unfortunately, this means you’ll be stuck with your present level of interest if rates happen to rise. You’ll also want to
