Ask Terry Questions Interest rates

Interest rates

By Terry Savage on September 26, 2015 | Chicken Money

My wife and I are 75 & 73. We have $150,00 in savings a .75.
Based on Secretary Yellin’s statement, should we wait until end of year to get a couple CD’s?
Is it anticipated that in the next 3- months savings and CD rates will increase

Terry Says:  The world has b een anticipating higher interest rates in the US for the past year, at least. And for the past 6 months Fed Chairman Janet Yellen has literally been promising a rate increase — most recently this past week!   And once it starts, there will likely be more than one rate increase.  Right now 0.75% is a pretty good return and I’m not sure where you’re getting that rate.  Most money market accounts and money market mutual funds yield much less these days.  I would definitely wait before locking up that rate, and when you do make a move, don’t lock up the entire amount at the same time.

Recent Chicken Money Questions

money

ASK TERRY

a personal
finance question