Question:
Should I invest in CD’s now that rates are higher?
Answer:
Every family’s financial landscape and tax situation are unique, but this approach as well as investing in T-Bills has been a successful strategy now that interest rates have increased. We have been using brokered CD’s (FDIC insured up to the FDIC maximum of $250k per account) for several clients in their advisory accounts. We have found this strategy offers significantly higher rates than what the big banks are offering, as well as what many brokerage sweep accounts are providing. This is one of the safest ways to increase your risk-free savings interest income. For specific terms and interest rates, please contact your advisory team at 76 Wealth Advisory.