c d rates

By Terry Savage on July 12, 2020 | Chicken Money

Our CD matured and the new rate is .5 we are 80 & 81 years old the CD is 248,000 could you give us any ideas.
Thank you.

Terry Says

With that amount of money, you should be able to get at least 1% interest — but you’ll have to be a bit sophisticated and willing to use Internet banks OR a great service called
Here’s a link to a column I wrote about them last summer, explaining how it works.
They divide your money into FDIC insured bank accounts that you own directly. They just get better rates from these banks that don’t have to advertise to get the deposits. (Click on the blue link to read about it — then contact them.)

Hint: you might want to put some in a 1 year deposit, and another portion in a 20year CD so you will have more flexibility.



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