Savings account
I have about 100,000 dollars in a money market account,but I wanted to know if I should put some of it in a C D,would this increase my interest
Terry Says
That depends on the rate your bank is paying on the money market deposit accounts. Many pay very low rates. So here are two suggestions:
You can compare CD rates at local banks here: https://www.bankrate.com/banking/cds/cd-rates/
Or you could purchase 3 or 6-month Treasury bills, currently yielding around 3.8%. And maybe do half in a 3 month, and half in a 6-month bill, staggering maturity dates. Unlike a money market account you have to wait til maturity to get your money. But no state income taxes on T-bills.
REad this: https://www.terrysavage.com/t-bills-beat-cds-2/
