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Message
CD rates in the coming months??
Posted on 12/20/22 at 6:25 pm
Posted on 12/20/22 at 6:25 pm
You can lock in now in the 4% range on a 6 Month CD. Thoughts on how high these will get in the coming months??
4
Posted on 12/20/22 at 6:47 pm to Northwest Louisiana
Where do you buy them from? The last guy I heard of that was selling CD’s in Baton Rouge got shot by the police
Posted on 12/20/22 at 7:24 pm to Northwest Louisiana
Probably a little higher but not significantly higher in the next 6 months- I’d feel pretty comfortable locking in 4% and reevaluating in 6 months. Or sit it in an online savings @ 3+% and invest in other opportunities if they arise.
Unfortunately I have a hard time getting excited about seemingly decent rates when I know my grocery bill is up 80% :(
Unfortunately I have a hard time getting excited about seemingly decent rates when I know my grocery bill is up 80% :(
Posted on 12/20/22 at 7:26 pm to el Gaucho
quote:
The last guy I heard of that was selling CD’s in Baton Rouge got shot by the police
But the minor financial investment led to a much higher interest rate than any 529. OP just needs to do it for the childrens.
Posted on 12/20/22 at 8:07 pm to rocksteady
Totally agree. Just got to do whatever possible to make up some of the losses we are experiencing right now.
Posted on 12/21/22 at 10:00 am to Northwest Louisiana
Got a 4.23% 5 year CD for my two year old at Crescent City Bank just last week (~2K in it).
Just created a 529 for her as well with about $1400 in it.
Then she has a plain ole savings account with about 3K in it.
Just created a 529 for her as well with about $1400 in it.
Then she has a plain ole savings account with about 3K in it.
Posted on 12/21/22 at 10:57 am to gaetti15
quote:
4.23% 5 year CD
the yield on a 1 year t-bill is 4.66 today
Posted on 12/22/22 at 8:43 am to Northwest Louisiana
Hmmmm. My standard savings is at 3.3%. Not much lower than tying $$$ in a CD.
Posted on 12/22/22 at 8:55 am to Bunsbert Montcroff
quote:
the yield on a 1 year t-bill is 4.66 today
Yeah. No offense to anyone who goes for CDs, but considering the yield and tax benefits (state and local), I really don’t understand the preference for CDs vs T-bills and notes.
On the shorter end, I’m even looking at higher grade corporate notes as part of my ladder. I’m seeing some attractive ones that top 5% for 2 year maturities.
Posted on 12/22/22 at 9:22 am to HeartAttackTiger
quote:
Hmmmm. My standard savings is at 3.3%. Not much lower than tying $$$ in a CD.
meh my maw maw set it up for all of her great grandkids. I'll deal with it after 5 years when I can take it out
This post was edited on 12/22/22 at 9:22 am
Posted on 12/22/22 at 2:29 pm to Northwest Louisiana
Robinhood just upped their cash interest to 4% on gold, dont really see the point of going the CD route unless it would be 5%+.
Now I will say it's $5/mo to get that 4% rate (Gold) but if you have enough cash in there, doesnt really matter.
Ex. @ $10k cash your effective interest rate would be 3.4% subtracitng the $5 from your interest each month ($10k *.04 / 12 = $33.33 -$5 = $28.33....divide by $10k times that by 12 to get 3.4%)
@ $20k it would be 3.7% effective
@ $30k it would be 3.8% effective
etc...basically not a bad place to park an emergency fund
Now I will say it's $5/mo to get that 4% rate (Gold) but if you have enough cash in there, doesnt really matter.
Ex. @ $10k cash your effective interest rate would be 3.4% subtracitng the $5 from your interest each month ($10k *.04 / 12 = $33.33 -$5 = $28.33....divide by $10k times that by 12 to get 3.4%)
@ $20k it would be 3.7% effective
@ $30k it would be 3.8% effective
etc...basically not a bad place to park an emergency fund
This post was edited on 12/22/22 at 2:31 pm
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