Options for IRA Funds that were pulled out of the stock market
Hi, Terry,
This past June I made a decision to pull all of my IRA funds out of the stock market. I had given this much thought over the course of a few months and decided my funds earning NO interest would be better than losing more (I had lost $40,000
of my total $350,000 funds and knew the market would likely be losing more.)
I am looking for something safe that will pay 4.5% or greater for a period of 12-18 mos.
Ideally it would be an IRA CD, but I have had no luck finding one with the interest rate in the range I am hoping to find. Do you, by chance, have any suggestions for me?
Thank you in advance for your interest in my situation.
Terry Says
If you move your IRA to Fidelity, Vanguard, or Schwab, you can use their brokerage services to buy U.S. Treasury bills INSIDE your IRA.
Read this article: https://www.terrysavage.com/t-bills-beat-cds/
Most bank CDs aren’t paying anywhere near that rate of interest.
Be careful to contact Fidelity or Vanguard to do the rollover for you, and don’t take the cash yourself. That way you avoid taxes and penalties.
