My CD Is About To Mature

[ABM]

I have a sizeable bank CD that will mature at the end of this month. I'm considering renewing it, but not sure. I have a job waiting for me in Oregon, but the income is not guaranteed. Therefore, I'm also considering turning the CD into something a bit more liquid.

Any suggestions? Money Market?

Thanks in advance.

ABM

 

[ABM]

Sorry. This was meant for the OT Forum.

 

[THE HCP]

I just got a Notorious B.I.G. remix CD! It is sick!

 

[BoBoBREWSKI]

I just burned a Rise Against CD from iTunes!

 

[noknobs]

Dude just get an ipod. I can't remember the last CD I actually bought.

 

[THE HCP]

The new iPod shuffle came out yesterday. That probably would be the way to go!

 

[andalusian]

Get the Zurs iPod holder from OddEnormous

 

[ABM]

Shoulda known.

 

[AgentDrazenPetrovic]

My fucking HSBC Direct rate is now at 1%. used to be 4%. fuckers.

 

[BoBoBREWSKI]

Dude just get an ipod. I can't remember the last CD I actually bought.

Got an iPhone and an iPod, just dont have the stuff to hook it up to my car/truck stereo's.

 

[BLAZER PROPHET]

I would recommend keeping your money liquid right now. Also, do NOT tell your wife about it.

 

[ABM]

I would recommend keeping your money liquid right now...

Yes, and, unfortunately, the price of beer keeps going up.

 

[BLAZER PROPHET]

Yes, and, unfortunately, the price of beer keeps going up.

So stop drinking beer and go to California where cocaine will be soon legalized.

 

[Dumpy]

ABM,

One strategy is to split your funds into two or more piles, and stagger multiple CDs with the same term, so that if you need money quickly, you don't have to wait long for it. So, for example, you could split your money in quarters: put half in a six-month CD, half in a one-year CD, and in three months do the same with the other half. When each of the six-month CDs mature, you renew them for a 12-month term. Since typically longer-term CDs pay a slightly higher rate, you get the benefit of the better return, plus you don't sacrifice as much liquidity. Of course, right now I don't think that a longer term CD pays much more than a short-term one, if at all, but over time it works out.

Depending on the size of your savings/checking account, you could possibly make due with just two or three CDs instead of four, but I'm sure you get the idea.

Best,

--d

 

[ABM]

ABM,

One strategy is to split your funds into two or more piles, and stagger multiple CDs with the same term, so that if you need money quickly, you don't have to wait long for it. So, for example, you could split your money in quarters: put half in a six-month CD, half in a one-year CD, and in three months do the same with the other half. When each of the six-month CDs mature, you renew them for a 12-month term. Since typically longer-term CDs pay a slightly higher rate, you get the benefit of the better return, plus you don't sacrifice as much liquidity. Of course, right now I don't think that a longer term CD pays much more than a short-term one, if at all, but over time it works out.

Depending on the size of your savings/checking account, you could possibly make due with just two or three CDs instead of four, but I'm sure you get the idea.

Best,

--d

Outstanding advice. Thank You!

(I knew somebody would come through without being a smarta$$)