Ask Terry Questions IRA CD maturing

IRA CD maturing

By Terry Savage on January 02, 2015 | Chicken Money

I have an IRA CD maturing and would like to know where I could get a better rate?I was getting 1.40% for three years but the new rates are .35% for 12 months, .60% for 24 months, .80% for 36 months, and 1.50% for 60 months. I have part of the money insured with CDARs and not all banks offer that which makes it more difficult to roll it over. The money is in my trust. How long do you think I should invest it with such low rates? Any advice you give me will be appreciated.
Thank you, AP

Terry Says:  I think you should stick with a maturity of no longer than one year.  You won’t earn any interest –but if the Fed moves to raise rates, you’ll have another chance to reinvest later at higher rates.

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