Maximize Your Savings with High-Yield CDs in 2024
TL;DR Summary
Opening a long-term certificate of deposit (CD) in 2024 could be a smart financial move as interest rates are currently high, but expected to decrease in the future. By locking in a fixed rate, your money can earn significant interest over the CD term, while the principal remains safe and protected by the FDIC. However, keep in mind that early withdrawal penalties may apply, so ensure you're comfortable with the funds being inaccessible for the entire term.
- Why you should open a long-term CD for 2024 CBS News
- Why you should put $10000 into a short-term CD right away CBS News
- Is It Time to Lock In Those 5 Percent CD Rates for 2024? AARP
- Top CDs Today: Two Leading Rates Fall, but the Best Overall Remains at 5.76% Investopedia
- This CD is offering 6.5% — and 5 more certificates of deposit with APYs of 6% or higher MarketWatch
Reading Insights
Total Reads
0
Unique Readers
0
Time Saved
3 min
vs 4 min read
Condensed
89%
694 → 77 words
Want the full story? Read the original article
Read on CBS News