Posts tagged Certificates of Deposit (CDs)

I am saving for a down payment for a house; should I keep the money in my savings account or move it somewhere different?

Considering you have a 3-year timeline, a standard savings account isn't optimal due to the low interest rates being unlikely to keep up with inflation. A money market savings account or certificate of deposit would be a better to consider. If you are comfortable with taking on more risk . . . .

Life Planning, InvestingJoshua Escalante Troesh, CFPDecember 20, 2018Buying A Home, Ginny Mae Fund, Treasury Bond Fund, Investment portfolio, Money Market Funds, Money Market Accounts, Savings, Certificates of Deposit (CDs)

What is the safest way to earn a higher interest rate on our money than by using our traditional savings account or a money market account?

In order to stay within your "safest" criteria, you would want to stick with an FDIC or NCUA insured account. You can get slightly higher interest rates by shopping around for high-interest savings accounts from online banks and credit unions. Currently (November 2018), rates on savings accounts are….