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Best CD to keep chicken money

By Terry Savage on September 07, 2020 | Chicken Money

I recently switched jobs and was enrolled in an Executive NQ Excess Plan with my former employer. This was 100% contributed by my employer and I was not taxed. I received a lump sum payout in the amount of approx $30,000. Taxes were already taken out.

From reading your other answers, it seems a CD at a bank is the safest place. However, I remember hearing on WGN in the past, from another financial advisor, that commercial real estate CDs pay a higher rate and are guaranteed.
Your thoughts? Also, Is the best place to check for the best CD rates bankrate.com?
Enjoy listening to you on WGN.

Terry Says

There is NO SUCH THING as a “guaranteed commercial real estate CD”! Period.

Rates are low for a reason The Fed is pushing them down. If you want an FDIC insured CD, go to www.MaxMyInterest.com to let them find one for you at no charge. Or just settle for whatever your bank is offering for a one-year CD — maximum time period. Then figure out your future plans and perhaps consider a Roth IRA at Vanguard in the S&P 500 fund, depending on your age and risk tolerance and need for liquid funds.



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