I did 100k at 6% for 2 and 3 months. Made a decent amount. In the future I plan on doing 200k. Maybe, I will actually do 1 million. I do have a million just laying around.
Just put $6000 into a 5 month CD at 4.65%. Cash was just sitting around anyways losing value from inflation. Might as well try to get that value back since I didn't need to touch that money for awhile.
@@bringithard6721I was told you could, and the less months you use the higher the percentage would be. But I’m still trying to figure everything out and could have misheard.
TD bank is offering a 4.5-5% cd for 12-18 months. For 10-250k deposit. I was going to do it but I dont want to lock that money up so I went with there 2.5% savings product. Less gain but have the money when I need it
Do you earn the APY each month for the term of the CD? How does this work? My CU has a special offer going on now. 4.75% APY for 13 months. I'm considering putting in $500 as its the minimum.
How I've always seen it work is that those advertised APY amounts usually require you to keep your interest in the CD until it comes to term. You can choose to have the interest go somewhere else but your interest rate will be lower. Just make sure they don't have it set to auto-renew if you plan to cash it out.
Threw a big chunk of cash into a 3 month on Friday. Equity markets are going to be too crazy for my comfort level. June 22, I will reconsider day trading, in the meantime I am locked up for three months.
Semiconductor ETF. I think you may of missed the rally though. I would look into Consumer Staples and healthcare. The CDs are nice too if you want to play it extremely safe.
So, a CD account is a way to give someone else your money to invest it on the market and potentially make X amount of money. Then you get some interest as payment 🤔
What I plan to do is put my grandparents money into a savings acct. with high APY% (Money the bank gives you for having your money there) & open a CD acct. with a high APY%. If one doesn’t work out you have the other to fall back into.
No the way it works is that you have to have all the money at once and it’s deposit in an account and then you can’t touch it until the maturity date. If you don’t have a bunch of cash, consider a high yield savings account. Usually they are offering around 4-4.5%
Gonna be taxed on interest earned. So divide that interest in half. Not worth it. If your going to tie up your money then might as well do an IRA. Higher rate of return.
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I did 100k at 6% for 2 and 3 months. Made a decent amount. In the future I plan on doing 200k. Maybe, I will actually do 1 million. I do have a million just laying around.
Just put $6000 into a 5 month CD at 4.65%. Cash was just sitting around anyways losing value from inflation. Might as well try to get that value back since I didn't need to touch that money for awhile.
I did the same, figured why not
I did it last year.. but on a smaller scale. Planning on opening up another one real soon
Could I open a 3 month every month for one year and just keep them rolling every month there after?
@@bringithard6721I was told you could, and the less months you use the higher the percentage would be. But I’m still trying to figure everything out and could have misheard.
I put in 100k at 6% for 3 months at chase. I do have 1 million dollars just laying around, maybe I will do multiple CD accounts.
Ally is offering 5% APY on 18 month CDs right now
USAA is offering 5% 15 month 90 days maturity.❤
Great strategy for the risk averse like me. I started building a CD ladder with Merrill and found some nice 5% offers.
are you using bank of america ? if so i been looking for awhile and highest i seen was 4.89% 7 months term. thank you for help
@@popsncracks9108 yep. Merrill and BoA are connected.
TD bank is offering a 4.5-5% cd for 12-18 months. For 10-250k deposit. I was going to do it but I dont want to lock that money up so I went with there 2.5% savings product. Less gain but have the money when I need it
Sounds like you just should set up an HYSA
What are the tax implications of cashing in on your CD after it matures? Is the interest earned considered income?
Yes
@@luceroschulz6848can you elaborate more on this and how is it taxed?
Uncle Sam is always your silent partner.
Just got a 10 month CD @ 5% from B of A, feeling it out.
Just don't let it roll over. It will be 2% at BA if your lucky!
I just started a CD today with my online bank for 5.25% apy at 6 months, this is Feb 24.
Which bank? Is that 6month terms?
USAA and yes for 6 months @@billl.2441
bank name ?
Lloyd Banks from G-Unit bank.. investment
So how much $ did you earn?
Do you earn the APY each month for the term of the CD? How does this work? My CU has a special offer going on now. 4.75% APY for 13 months. I'm considering putting in $500 as its the minimum.
How I've always seen it work is that those advertised APY amounts usually require you to keep your interest in the CD until it comes to term. You can choose to have the interest go somewhere else but your interest rate will be lower. Just make sure they don't have it set to auto-renew if you plan to cash it out.
I’m opening a cd today at 5.06% which is very high. My local bank in town offers it too which is crazy to me
Threw a big chunk of cash into a 3 month on Friday. Equity markets are going to be too crazy for my comfort level. June 22, I will reconsider day trading, in the meantime I am locked up for three months.
SMH ETF is up over 20% YTD. Equities are still winning my friend
@@tigerrx7 SMH?
@@tigerrx7 what are SMH? And ETF, I got $30,000 to invest.
Semiconductor ETF. I think you may of missed the rally though. I would look into Consumer Staples and healthcare. The CDs are nice too if you want to play it extremely safe.
So, a CD account is a way to give someone else your money to invest it on the market and potentially make X amount of money. Then you get some interest as payment 🤔
Yes. They take on the risk. You Don’t. 🎉. You earn 4-5% for your money just being there.
@@AllByDesign4can u lose money?
I don’t know much about the bank all I want to know is, if I open a cd account and out my money there will it double or not !
What I plan to do is put my grandparents money into a savings acct. with high APY% (Money the bank gives you for having your money there) & open a CD acct. with a high APY%. If one doesn’t work out you have the other to fall back into.
I have a few questions. I would like the same, just want ti know how or in what to invest on
That woman added nothing to the conversation, just made the video longer and more painful to watch. The guy really didn’t have much insight either.
BarclaysUS is offering 5%
Bernardo Circles
Can you add to a CD without closing it ?..like deposit a monthly amount??
No the way it works is that you have to have all the money at once and it’s deposit in an account and then you can’t touch it until the maturity date. If you don’t have a bunch of cash, consider a high yield savings account. Usually they are offering around 4-4.5%
Depends on who you bank with some banks let you add to it
So you cant add money to a cd once its been opened? Thank for the info @mclaine33
If a cd yields 4% and inflation according to cpi is 3% then don't we account for that and simply call it 1% interest?
Or, not losing 3% like savings
Congratulations. Tierage.
Aliya Alley
Excellent
Simonis River
Who transfer the money, the bank or myself? I open the cd on Friday but the money is still on my savings account.
You can transfer it or they can
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Where can I find a beautiful nerdy finance woman like you in the real world❤
Can you add more money to your cd account
It depends on the bank or credit union and the type of CD. I have a CD with my credit union that allows me to add money to it during maturity.
Gonna be taxed on interest earned. So divide that interest in half. Not worth it. If your going to tie up your money then might as well do an IRA. Higher rate of return.
@@abuwadie3I didn’t know it was taxed? Wow thanks for the info. I already tied my money up but only for 9 months want do it since it’s gonna be taxed
@@mariod850 more like 0-20%
@MR. Davis yes because it's considered income
She hurts my ears at every end of her sentence, annoyed