Forget CDs for Your Retirement. Here's a Much Better Way to …

CD rates are falling after holding steady at 5% or more for a good stretch of time. But even so, CDs are still paying pretty generously. Unlock a bonus worth $250 and pause interest into 2026 ...

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Should I put my retirement savings in a CD?

In fact, the interest you earn on a CD is taxed at your highest marginal rate. When your investments gain value in an IRA or 401 (k), you don't pay taxes on them year after year like you do with a CD. Putting your retirement savings into CDs is a move you might regret. Use CDs for their best purpose -- short-term savings goals you want to meet. ...

Should you buy a CD If You're Near or in retirement?

If you’re near or in retirement, you might wonder if CDs fit there too. For risk-averse folks, CDs can be appealing. Safety is central to them: CDs offer predictable returns, federal deposit insurance and no volatility in value such as in the stock market. ...

Should a retiree use a long-term CD?

Get the timing right. Retirees, especially those in their 60s and 70s, should be careful about using long-term CDs without considering the potential need for short- to mid-term liquidity. Once you're up and running, track your retirement CD ladder closely. CD ladders aren’t a silver bullet for cash needs. ...

What happens if you withdraw money from a CD before retirement?

If you withdraw money from a CD before the end of its term, you will likely pay an early withdrawal penalty. If you need your money to remain liquid before retirement, consider alternatives such as a high-yield savings account or a money market account, which have top rates above 5.00%. ...

Are CDs a good investment?

Some of the best CDs are currently offering rates above 5.00%. But if you've been thinking about using CDs for your retirement savings, you should reconsider. CDs work well for short-term savings. For long-term savings (anything that's more than five years away), there are investments that will likely make you more money. ...

Do CD Ladders make sense for retirees?

By building a series of CD investments that reinvest over time, retirement savers can take full advantage of high return rates, giving them more income later in life. Why do CD ladders make sense for American retirees, and how do they work? Retirement savings experts weigh in on the best ways to maximize CD ladders before and during retirement. ...