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CD’s — now or when?

By Terry Savage on January 24, 2023 | Chicken Money

I watch you when you are on WGN. My question is should I jump on a CD at 5.10% or do you think that the rate will increase?

Terry Says

I doubt rates will go very much higher from here, as inflation is coming down. How long is the maturity of that CD? I wouldn’t tie up the money for longer than two years (unless it is in side an IRA and you are over 73, in which case there would be no penalty for getting out of the CD for an RMD withdrawal).

That’s a pretty high CD rate. Just make sure you are buying an FDIC-insured CD from a bank!

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