Talk of The Villages Florida - View Single Post - How has the stock market been treating you?
Thread: How has the stock market been treating you?
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Old 09-25-2022, 08:35 AM
retiredguy123 retiredguy123 is offline
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Originally Posted by Boomer View Post
So….any thoughts on what bricks-and-mortar banks will be doing with CD rates? And when?

I sure would like to see some kind of return on money in the bank.

Thoughts? Theories? Anyone?

Boomer
To me, bank CDs don't make sense and they haven't for at least 20 years. My "go to" place to check on the highest current rates is Penfed.org. It is a credit union that is always competitive with bank CDs. Their current rate for a 3-year or 5-year CD is 3.25 percent. I would rather take a small risk and invest in the Vanguard short term bond index fund that is paying 3.81 percent, and has more liquidity than a CD. The Vanguard money market fund, with no risk, is paying 2.52 percent. I stay away from bank CDs altogether because, unlike 30 years ago, the banks will not give you a good deal because they don't need your deposit.