aja8888
Moderator Emeritus
I have just transferred $100K into a PenFed IRA from my Schwab IRA (had cash recently uninvested). It's gone from Schwab but not posted yet at PenFed (it's in the wires somewhere).
I am about to retire 12/31 and just work part time (consulting) at the same firm. Maybe 25 - 50% if needed. Age is over 65, financially OK and good health. No debts, no kids at home, paid for house, etc.
I have not determined how to split up the 100K into CDs. My first thought is 10 $5K 3% CDs @ 5 years and leave the rest cash until a few months go by to see if rates rise and I can then invest the balance or a portion of it into a higher rate CD. If rates don't rise, then ladder in 3% CDs $10K at a time for the rest of the year. Although doing this I don't feel so good about letting 50K sit there doing nothing for months.
Any thoughts on a better plan for the $100K?
Thanks,
Tony
I am about to retire 12/31 and just work part time (consulting) at the same firm. Maybe 25 - 50% if needed. Age is over 65, financially OK and good health. No debts, no kids at home, paid for house, etc.
I have not determined how to split up the 100K into CDs. My first thought is 10 $5K 3% CDs @ 5 years and leave the rest cash until a few months go by to see if rates rise and I can then invest the balance or a portion of it into a higher rate CD. If rates don't rise, then ladder in 3% CDs $10K at a time for the rest of the year. Although doing this I don't feel so good about letting 50K sit there doing nothing for months.
Any thoughts on a better plan for the $100K?
Thanks,
Tony
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