CD Strategy for 2024
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- Опубликовано: 20 янв 2024
- Clark updates the state of the economy and interest rates, with guidance on how savers can lock in higher rates for longer. He also has an important warning about how to spot fake CDs.
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I'm so happy I made productive decisions about my finances that changed my life forever,hoping to retire next year.. Investment should always be on any creative man's heart for success in life
That's awesome!!! I know nothing about investment and I'm keen on getting started. What are the strategies?
The first step in every successful investment is to establish your goals and risk tolerance, a task best undertaken with the assistance of a financial advisor with extensive financial market knowledge like Fergus Waylen
Wow. I'm a bit perplexed seeing him been mentioned here also Didn't know he has been good to so many people too this is wonderful, i'm in my fifth trade with him and it has been super
YES!!! That's exactly his name (Fergus Waylen) so many people have recommended highly about him and am just starting with him from Brisbane Australia
I don't want to put a figure to how much i've made doing that but let's just say it's more than enough to make trading worthwhile. And when i say worthwhile, i mean it.
I just got a CD with Marcus / Goldman Sacks for 5.40 APY. Local credit union is paying 5.25 APY. Both for 1 year.
Thanks! I'll look into it.
How easy was this process for you to start with Marcus? Contemplating the same offer now
@@varthdader12 Marcus is pretty quick and seamless! They had a 14-month CD at 5.15 APY when I signed up. I think they now have a 12-month CD at 5.05 APY
Get a Fidelity account or similar and have acccess to hundreds of banks with good rates. Super easy to buy!
I agree. Plus by doing it that way you don't have to deal with getting your money to and from the banks. And you can keep track of them all in your one account instead of spreading and dealing with keeping track of them all. I've also heard that some of the obscure banks can make it difficult for you to get your money out of their banks later when the CD has matured. Finally, you may also want to consider U.S. treasuries that you can easily buy using your account at any of the well known brokerage firms.
Agree Schwab has a good amount too but fidelity more
My local credit union still offering 5.25% for 15 months
Brokered CDs are currently paying LESS than CDs at most online banks like Capital One currently. Brokered CDs were the first rates to instantly fall after the Feds last meeting. Online bank CDs are beginning to fall now too, but they are still hovering above Brokered CD. At least the ones I can see at Merrill and Fidelity currently.
I'm seeing the same.
Decent rates. But not always best long term unless u go callable.
Thank you Clark and Team!
Excellent and needed information. Our options are less and less.. Thank you.
Currently I have funds in 4 CDs (various lengths) and 1 MM account still paying a fair interest rate. My next CD matures in April and I am hoping I am able to secure another good rate into 2025 or 2026. It has been nice for a change to be able to make some money in these safe insured vehicles. As for fake CDs I go directly to a brick-and-mortar bank, the MM is in an account I have used for years. Appreciate your tips.
My sympathy to your team in trying to keep up with these crazy times.. I'm hearing this info only a few months after this video uploaded and it seems already obsolete. 😢 Ugh. Things are moving and changing so very quickly in all ALL SECTORS.
Thanks much!
This is helpful.
Everything is coming down, but what counts.....prices!!
What accounts does a individual utilize for a very large amount of money? Such as a million+.
And avoid callable CDs
I don’t know what a callable CD is!!
What is that?
just means that the bank can redeem your CD before the full time that your CD was supposed to mature in. They will do that if the interest rates drop by enough so that they'd rather not continue paying you the rate that you signed up for.
@@patrickm1395 Thank You!
It means the bank can back out of CD and pay you what they owe you. @@southerngirl773
For year 2024 stocks analysts are saying stocks that about to skyrocket. Trade simple UPST. TDOC. MRNA. ROKU. BBY. Sbux. PARA. ❤
I did a cd ladder (used a roll over IRA via Fidelity) for the next 2 years, which is the period in time I need access to cash. But my emergency fund is in a HYSA and I anticipate the rate dropping. It really irks me that interest rates in savings accounts have been so abysmal for the average saver for so many years. It really hurts the little guy.
Did the same a year ago, 10000 per month , as they come due i roll 6000 (roughly) forward, and invest 1000/1500 a few times a month (dollar cost average)
Fidelity does offer investment grade corporate bonds that are not callable, not junk, maturing in a year or less, paying up to 7%. They involve a bit more risk, but pay more than CDs or U.S. government bonds even before interest rates where low 5 years ago. Just another option.
@@emailuser8668 yes, as does schwab
Also municipal bonds widely available , lengths vary
Lots options
Yes, the Fed may lower rates, but when they do, inflation is likey to take off again, forcing them to raise again, (to a rate higher than they are right now). And if you've locked in todays lower rate, you loose. So it all depends on where you think interest rates may be headed. I certainly would not lock in more than 12 months, but that's just me.
To get any decent rate, you really can’t go over 12 months anyway.
Agreed
Callable? Uncallable?
I wonder what CD rates will be in mid 2025????
How much trust can anyone really put in FDIC seeing how the federal government is being run?
The executive branch is being run just fine. GOP led Congress, on the other hand, is a shambles.
Exactly, that’s what scares me
Why not just do a 3 month at 4.75 and then next month do another 3 month and next month do another 3month and just have 12 months? Then and every month you will have the option to re-buy or not.
Nobody really knows what's happening with future interest rates. It's nothing but a guess at this point. Buy CDs now for 1 to 3 years. Even better. Buy a 3 or 5 year MYGA Annuity which is currently paying more than CDs. Plus, many of these allow you to take your interest out every month. It's quite simple.
Umm. You're new to Clark, aren't you? ... That word 'annuity' isn't used positively on the channel. Do your own research, folks.
@@okiejammer2736 I'm not new but I know enough to tell you there's nothing wrong with a MYGA annuity regardless of what Mr. Howrd thinks. You will do better and you will have more options than a standard CD. Check it out for yourself.
Inflation didnt go down. The fed reserve delayed the interest rate cuts. Hmmm... It seems that if you don't cut government spending that exceeds the incoming revenue you tend to have to print more money. More money = inflation.
It also seems that the large entities that are required to bid in the Treasury Auctions haven't been as enticed by the interest rate offerings so most are bidding higher interest rates.
The Debt to GDP ratio is just as high as it was during World War 2 and the 1950s. During that era they offered low interest war bonds and all of the Federal reserve banks purchased obscene amounts of low interest bills, notes and bonds to slow down inflation. And then after the war they slowly put them on the market or let them mature.
The problem is that we aren't in a world war. After WW2 Truman, Eisenhower and Kennedy and their respective Congresses CUT GOVERNMENT SPENDING and lowered debt to GDP ratio. We aren't. Yes we have international buyers of our debt but remember that Moodys downgraded our credit rating meaning we may have to have higher rates than in the past pre Biden era to sell our debt. Both parties are to blame because we haven't had a traditional budget process since the Bush (senior) administration. Instead we have continuing resolutions and spending increases with debt ceiling increases.
"We can ignore reality, but we cannot ignore the consequences of ignoring reality" - Ayn Rand
I would rater do an annuity wiht a insurance company, than a CD with a bank!
😔
Hard no!
Stupid!
Annuities are not covered by FDIC
Why? Please explain.
Get to the point right away men!!!!😂
Cheese-eater
Yes Biden NEEDS RE-ELECTED 😂 Wait for it 🎉
No, he needs to be put in prison.