6 Month CD?

[RetiredGypsy]

When does getting a 6 month CD make sense? I was thinking of laddering 6 month CDs between now and the time I was separated, which would have a CD maturing roughly once a month for the first 6 months after I got out. The interest rate is 0.3% higher than my savings account, but it's the best rate I've been able to find at 6 months.

This isn't a part of my emergency fund, and really won't be a major part of my savings (it could be used to recharge either later if necessary), but I'm getting a major itch to buy something I really don't need right now and want to hide the discretionary money away where it would be painful to get it back before I'm a free man again. I have better plans for it later.

 

[TN_INVEST]

I wouldn't give up the liquidity for a measly 0.30%

Do the math. How much are you talking about? Even if you're talking about putting $25,000 in the 6 month CD...you'll only earn about $375 more by locking it up for 6 months.

No thanks.

If you need somebody to hold your money so you can't spend it...send it my way.

 

[Enuff2Eat]

nickel and dime.

i would rather find a better way to do with your money give it to the bank to hold for next to "nut-thing".

enuff

 

[OAG]

MMA at HSBC FDIC Paying 3.5% APY on $1 minimum. You can set it up on line and while it is a Bank (slow to credit you account; banks can post checks is seconds but most take days to post a deposit) you can make deposits and withdrawals on line. Seems to beat any 6 month CD rates I have seen.

 

[UncleHoney]

Psssst......... Wanna a good rate?

IndyMac CD rates surge as its stock price plunges - Los Angeles Times

 

[CitricAcid]

Psssst......... Wanna a good rate?

IndyMac CD rates surge as its stock price plunges - Los Angeles Times

Just get an annuity with them, probably a great rate now!