Should you put your money in a CD?

Should you put your money in a CD?

The window for securing a top-notch rate on a certificate of deposit (CD) may close soon, according to The New York Times. At the end of 2023, the Times gave the following verdict: “If you want to lock in more rates in your cash savings for the next year or so, now might be the time to do it. ” According to the Times, this is due to the fact that currently, “yields on federally insured certificates of deposit are the highest they have been in years,” and they are poised to “decline in the new year” if the Federal Reserve will follow. through potential interest rate cut plans.

But even if it appears true that now is the time to strike for the most competitive CD rates, that doesn’t automatically mean that CD investing is the right financial move for you. Here’s what to consider about CDs before you lock up your money.

Why invest in a CD?

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