I'm thinking about pulling my CD interest at a credit union (penalty free) and putting it into a MYGA at 4.3% for 6 years.
Cd's averaging 3.2% and coming due between 2-4 years from this month.
This is just the interest, principle will keep drawing interest till due time. Amount is under state insurance for annuity. Tax will be deferred till maturity and am hoping to live in a state income tax free state by that time.
Any red flags I may be missing? Thanks
Cd's averaging 3.2% and coming due between 2-4 years from this month.
This is just the interest, principle will keep drawing interest till due time. Amount is under state insurance for annuity. Tax will be deferred till maturity and am hoping to live in a state income tax free state by that time.
Any red flags I may be missing? Thanks