Originally Posted by rsmurano (Post 2156247)

You can get a 2 year treasury note that you I’ll give you 4.7% if you want to lock up your money. I want to get back in the market when things get back to normal so I don’t want to have my money locked up where I can’t get to it when I want

Originally Posted by dewilson58 (Post 2156259)

YEP.

There is a reason rates are going up...............now is NOT the time to lock in. :22yikes:

Originally Posted by rsmurano (Post 2156247)

You can get a 2 year treasury note that you I’ll give you 4.7% if you want to lock up your money. I want to get back in the market when things get back to normal so I don’t want to have my money locked up where I can’t get to it when I want

Originally Posted by retiredguy123 (Post 2155952)

My point was that the Edward Jones newspaper ad is nothing to get excited about.

Originally Posted by MandoMan (Post 2156057)

Doesn’t that mean that with the current inflation, you will lose 4% in a year? Hardly a good investment.

Originally Posted by retiredguy123 (Post 2155945)

OP, you need to shop around. That is not a great rate. Fidelity Investments is offering 12 month CDs that are paying 4.7 percent and 24 month CDs paying 4.9 percent. They are new issue FDIC insured, non-callable, bank CDs. No fees at all. If you open a Fidelity brokerage account, they will buy the CDs and manage them in your account. And, they have an office in Lake Sumter. Stay away from local banks for CDs.

Originally Posted by dewilson58 (Post 2155940)

Overview of Edward Jones CDs
Edward Jones is a brokerage service. When it comes to CDs, that means Edward Jones is not creating its own CDs the way traditional banks do. Instead, it buys CDs from other banks in large volumes and then resells them to customers at competitive rates. The CDs that Edward Jones sells are known as brokered CDs.

One advantage of brokered CDs is that it’s possible to buy CDs from multiple banks through Edward Jones. The FDIC will insure your CDs up to $250,000 at every institution you bank with. So getting CDs from multiple banks (through Edward Jones) will allow you to insure potentially more than $1 million. This isn’t relevant to everyone, but it provides some more security if you are putting a lot of money into CDs.

Edward Jones has 10 CD term options available. Term lengths range from three months to 10 years. As with most brokered CDs, the interest rates are competitive. However, it’s important to note that Edward Jones does not compound your interest. You will receive interest payments based on how many days you hold a CD and the annual percentage yield (APY).

If your CD term is one year or less, you will receive an interest payment when your CD reaches maturity. If your CD term is more than one year, Edward Jones will send you an interest payment monthly, quarterly, semiannually or annually (as well as when your CD reaches full maturity). The exact schedule for your interest payments will depend on your CD. Make sure to check the schedule before you open an account.

When your CD earns interest, payments will go straight into your money market account (MMA) or another bank account that you have with Edward Jones. The interest payment will send on the same day that it is paid. Similarly, Edward Jones will transfer your principal to another account when your CD reaches maturity. This differs from traditional banks, which renew your CD for another one of the same term length after your maturity date.

There are also some potential fees you should consider. Unlike with traditional bank CDs, brokers sometimes charge a commission for buying and selling CDs. These fees often come out of your interest payments and can cut into your earnings.

Originally Posted by Kenswing (Post 2155943)

Also make sure the cd is call protected. The last thing you want is for rates to drop and your cd called early.

Originally Posted by Paper1 (Post 2155937)

In today's Sun I see an advertisement by Edward Jones offering 12 month CD's with a rate of 4.65%. Is anyone on the forum familiar with this offering and how they can offer so much more than a bank. Thank you in advance.