CD Rates Rock!
HTML-код
- Опубликовано: 5 окт 2024
- CDs - Are they still a good deal? Given where inflation and interest rates are heading, Clark explains that we’ve arrived at a tipping point for savers, and how to best put your money to work.
Mentioned on the show:
clark.com/pers...
clark.com/pers...
Clark.com: Advice You Can Trust:
SUBSCRIBE: / clark
Follow Us for More Money Tips:
Website: clark.com/
Podcast: clark.com/podc...
Newsletter: clark.com/news...
Instagram: / theclarkdotcom
Facebook: / clarkhoward
Need Consumer Advice?
The Consumer Action Center is a free resource for advice on money and consumer issues. Call 636-49C-LARK (636-492-5275) and a member of Team Clark will assist you as soon as possible. The Consumer Action Center is available Monday-Friday from 10 a.m. to 4 p.m. ET.
If you found this video valuable, give it a like.
If you know someone who needs to see it, share it.
Leave a comment below with your thoughts.
Add it to a playlist if you want to watch it later.
Our Promise to You:
At Clark.com and ClarkDeals.com, we do not get paid for endorsements or reviews of any product or service, nor do we allow advertisers to place paid content on our sites. More information: clark.com/ad-d...
I'm hearing of all these great long term rates, but I'm only seeing them for 3 and 6 month CDs. I wish! I made $5k in interest alone last year. Loving it.
I went to our bank 10 months ago and told them they had to pay more interest on our high yield savings account. The manager asked me how much and I replied 5%. They agreed immmediately. I should have asked for 6.5%.
My credit union has a special this year to comamorate their 90th university with a 9% 1 year CD with a maximum of $5,000 deposit.
Awesome! What is the name of your credit union? Thanks
$5000 MAXIMUM.
@@steveludwig4200 you are correct, my mistake. I have corrected it. Best wishes.
@@steveludwig4200 Express credit union in Seattle, WA
Wow! What CU?
Totally true! My seven month CD was up at BOA, there was only a seven day window to do anything with it, or you are locked in for another seven months at .01%. It does not roll over at the current seven month, CD rate shown on the website of 4.5%! And there is only a seven day window, nothing can be done on the website you must either go into the bank or call.
I should point out. This is the exact opposite treatment that you get as a Merrill Lynch user. Lynch treats you properly, well, BOA tries to cheat you. Thank you Clark.
Funny since BOA owns them
Every cd I ever had for last 40 years had a 10 day window, bank and cu.
Also if it rolls and you miss the window, just close it anyway and take the 15 cent penalty
Treasuries too, for the win. Can sign up at Treasury Direct and buy them in $100 increments. Advantages are you do not have state taxes applicable to the interest and you can buy 1 month, 2 month, 3 month, 4 month, 6 month, 1 year, 2 year, 3 year, 5 year, 7 year, 10 year, 20 year or 30 year maturity levels. Bond funds I do mainly in my IRA accounts.
Houses are double from 2019. We need deflation to get back in line.
As you know, we used to get higher rates for longer terms, but now peak rates are at 5% or so. I would not accept lower rates.. No, I'll take more 5% and come back in a year and possibly renew.
Banks are not in business to make sure you get the best interest rate.
Agree about Fido/Schwab/Vanguard, BUT, most of the brokered CDs are callable -- meaning if rates drop, the issuing bank and prematurely return your funds to you, then you are left to reinvest at a lower rate...
Much better to just buy T-bills/T-notes (this can be done at Fido/Schwab/Vanguard, for no charge). Treasuries are NON-callable, and, for those people who live in states with state income taxes, Treasury interest is free of state income tax. (CD interest is fully taxable).
"most of the brokered CDs are callable" Absolutely incorrect. The HIGHEST paying CDs in each time frame (except 3 and 6 month) are typically callable but there are a lot of offerings with maybe .25% less interest rate that arent (at least with Fidelity).
@@steveludwig4200 for sure, and Schwab too. Many, many more are not callable.
The mega banks, chase, Wells Fargo, etc are the ones who usually have the callable ones
Living in high tax state of California Tbills are only way to go free from State taxes.
🕊Good morning ☔️
I'm wiser smarter,
knowledgeable👸🏽
Thank you, Clark 🤓
Thank you for your knowledge Clark and Team! I put my inheritance money in several 3 month CD’s and Treasury Bills. Which is easier to cash in if I decide to invest in Real Estate for quick cash?
at the end you said, They will rip you off. But didn't say how they will rip you off? Still waiting for answer. Thanks
I may be wrong, but I believe he meant .01% and .03% rates compared to 4.5 % or thereabouts is ripping you off.
I don't understand it either 😮🤷♀️
He means those large Mega banking greed monsters companies
Alliant CU 5.40% 12-17 months, high yield savings CIT Bank 5.05% if balance is $5k or more.
Then they give your info to government agencies BoA
Stupid question because I don't understand how CD interest work but I would really like to know, which one will make more money at the end, a 4 month CD at 4.89% (5.01% apy) or a 7 month 4.89% (5.01% apy) ?
That’s great, assuming you have any money to put into one.
I would really like to have a flat tax and Id likely opt in to cover the flat tax of those who are living paycheck to paycheck with raw income below 30k.
I liked it when he said "NEVER....NEVER......NEVER".
Did he really end that with never. Never. Never. 😆😆🤦🏻♀️? ? ?
Nobody has ever gotten wealthy via CDs or Bonds.
PT Barnum said there was one born every minute.
Still not high enough to let the banksters hold my money
But Fidelity and the others you talk about charge fees!
@user -- Huh? You don't know what you are talking about.
There are ZERO fees to buy CDs or Treasuries or stocks at Fidelity.
I repeat, you do not know what you are talking about.
Ignorance is bliss...
Zero fees at Schwab or fidelity, ZERO! To buy CDs or any treasury’s
Compare cds that are simple interest vs compounding.
Brokered cds are simple interest
E*trade is another to consider