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Old 06-19-2009, 02:45 PM   #41
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UncleHoney's Avatar
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In the past year I renewed two regular CD's before they matured without penalty. One was a five year that I got in April 2008 and by June 2008 the rate had gone up about 1/2%. The other was a five year CD that matured in April this year. As I was watching rates fall I decided to renew it in January. I felt like a fool renewing for a lower rate but not as low as the rates ended up in April.

I think it all depends on your banking institution if they charge you with a penalty. My CD's are in a credit union (not PenFed). The new terms were the same as the old one, just a different rate.

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Old 06-19-2009, 09:45 PM   #42
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Mom's money is all after tax.

We used to have CDs that allowed one withdrawal before maturity. But I'm pretty sure they had a slightly lower yield.

This isn't a huge problem for me. I just want to be able to assure her that you aren't locked in at gunpoint or anything. Mostly I'd like to get her ladder going, the interest flowing, and get the ~$200K out of the savings accounts.

Thanks everyone.

"Good judgment comes from experience. Experience comes from bad judgement." - Will Rogers
DW and I - FIREd at 50 (7/06), living off assets
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