I purchased my CDs from Fidelity. It is my first time doing this vs a bank. I am now looking at selling some to invest in a higher return. I understand I will need to sell at a 'loss'.
Unfortunately, I did not find a calculator to know how to reinvest. I have found a calculator that includes bank penalties based on lost interest for X months. But, not one that suggests if I sell at X percent of the value, what does my new CD need to return. Do you know one that you would recommend?
You may also want to tell me that this exercise is a waist of time. My toe dip approach suggests that it might be since who would purchase a 3.5% CD unless it was a fire sale. If you tell me I am mostly wasting my time with this approach would be helpful (and not surprising) as well.
Thanks as always!
Unfortunately, I did not find a calculator to know how to reinvest. I have found a calculator that includes bank penalties based on lost interest for X months. But, not one that suggests if I sell at X percent of the value, what does my new CD need to return. Do you know one that you would recommend?
You may also want to tell me that this exercise is a waist of time. My toe dip approach suggests that it might be since who would purchase a 3.5% CD unless it was a fire sale. If you tell me I am mostly wasting my time with this approach would be helpful (and not surprising) as well.
Thanks as always!