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3% 5 Year CD @ Mercantil Bank

  1. #31
    Join Date
    Apr 2014
    Location
    Arizona
    Posts
    120

    For me, CD's are a non-risk addition to my savings. I have a fair amount in an Ally account that is 1.6%, which is good nowadays for a plain ole savings account. However, when I read the posting yesterday about a CD accumulating 5% (I think) over 5 years, I started looking around for CD rates. I didn't want to tie up my $$ for 5 years so I opted for a 2 year CD @ 2.35% at Ally. I will ladder another CD for maybe 18 months (I forget what the interest is).

    Since I'm 71 and don't plan on trying to strike it rich with anything, especially with stocks or mutual's or bonds that I don't understand how it all works, I'm just trying to do the best I can with what little I have and earn a little more interest. Who knows what the future will bring, so every $$ counts.

  2. #32
    Join Date
    Feb 2018
    Location
    Houston, Texas
    Posts
    504
    Why does this forum have a sponsor claiming 9.6 annuity returns like "info.annuityallliance.com"?

  3. #33
    Join Date
    Aug 2016
    Location
    Near Mount Pilot
    Posts
    4,555
    Quote Originally Posted by fmdog44 View Post
    Why does this forum have a sponsor claiming 9.6 annuity returns like "info.annuityallliance.com"?
    I have not seen the adv. but it may be a little bit of smoke and mirrors.

    Some annuities advertise high guaranteed growth rates but they only allow a much lower capped withdrawal rate so you never get the benefit.

    I would listen to the sales pitch but remain skeptical, if it sounds too good to be true it probably is.

  4. #34
    Join Date
    Jul 2016
    Location
    bayside ,queens , ny
    Posts
    821
    Quote Originally Posted by KingsX View Post
    This is a CD topic and like all CD topics I've witnessed here,
    it has been usurped by posters who berate CDs.

    We are all intelligent adults here. We make our own choices
    based on our own preferences and needs. No need to berate
    those who choose CDs.

    .
    i would like to see the posts that berate buying cd's ????????????????? i don't see not one in this thread . i see facts , and i see opinions on rates .

  5. #35
    Join Date
    Dec 2017
    Location
    Texas
    Posts
    636
    .

    Maybe another wild stock market ride will deter you...
    although it didn't the last time you trashed a CD topic.

    .

  6. #36
    Join Date
    Jul 2016
    Location
    bayside ,queens , ny
    Posts
    821
    stop with your silly answers . that is total nonsense as a reply and i still challenge you to show where buying cd's was berated ??????? the only thing i see is the reverse - a lot of nonsensical fear mongering trying to portray equities as some villain . facts show you are quite wrong .

  7. #37
    Join Date
    Feb 2018
    Location
    Houston, Texas
    Posts
    504
    You should have both safe money and invested money and if you are 100% in stocks and bonds you are stupid. If you are 100% in safe money do not expect growth. It cannot be said nay clearer.

  8. #38
    Join Date
    Jul 2016
    Location
    bayside ,queens , ny
    Posts
    821
    you do not need much cash , bonds work fine as safe money . just match the duration to the time frame you need the money . i keep 4% cash which shrinks less and less through the year as it is spent down . then the bonds and stocks are rebalanced for the following year . more cash than that is not needed unless there is a specific use. the combination of assorted bond time frames and a bit of cash works fine and always has .

    the allure of these cash buckets with years of cash have been found to accomplish nothing that simply rebalancing bonds and stocks wouldn't do .except bonds tend to work better over time than holding years of cash. .


    https://www.kitces.com/blog/are-reti...cation-mirage/
    Last edited by mathjak107; 05-20-2018 at 02:19 PM.

  9. #39
    Join Date
    Dec 2017
    Location
    Texas
    Posts
    636
    .

    I was able to free up extra money to put into another 5 year 3.10% CD with First Guaranty Bank.
    [when you have a FG checking account, they give you an extra .10 bump up on the rate.]

    .

  10. #40
    Join Date
    Jun 2018
    Location
    FL
    Posts
    26
    I just dumped 25% of my retirement money into a Ladder of CDs with Synchrony Bank. I also opened up two mutural funds with a 60/40 bond to stock split but since I do not need this money for 10 years I am waiting for the next bull market and then buying stock at cheap prices. For now, CDs and a high yield savings account work for me. I have tried to get my sister to use on online bank for her CDs but she wants to stay with her brick and mortar bank and get a little over 1% on a 5 year CD when I am getting 2.85%.

  11. #41
    Join Date
    Jul 2016
    Location
    bayside ,queens , ny
    Posts
    821
    we should see a tick up today

  12. #42
    Join Date
    Feb 2018
    Location
    Houston, Texas
    Posts
    504
    Quote Originally Posted by Vinny View Post
    I just dumped 25% of my retirement money into a Ladder of CDs with Synchrony Bank. I also opened up two mutural funds with a 60/40 bond to stock split but since I do not need this money for 10 years I am waiting for the next bull market and then buying stock at cheap prices. For now, CDs and a high yield savings account work for me. I have tried to get my sister to use on online bank for her CDs but she wants to stay with her brick and mortar bank and get a little over 1% on a 5 year CD when I am getting 2.85%.
    I caution anyone trying to time bull or bear markets because you never know when they will start and end. Dollar cost averaging is something you may want to examine. Getting 1%+ on a five year CD s actually losing money as re all rates below inflation. There are savings accounts with higher yields.

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