If I have $17,000 to invest in CD's would it be better to have one CD or many CD's? What makes more money?

Question

24 months is the longest I'd like to keep the money in the CD.

Answer 1

Research the best rates available on bankrates.com.  This will list the rates and the time period required to earn the rate.  As far as multiple CDs, you may want to have different CDs with different maturity periods, such as 6 months, 1 year and 2 year.  In this way you can reinvest at better rates if/when the market rates improve.

Answer 2

I assume you're worried about bank failures, which is very common today.

Other than that, there's no reason to spread your deposits around if you're under $100,000. Each CD account is insured by FDIC up to $100,000 (but your interest is not).

So, best to keep it in one place, shop for the best rate (I personally wouldn't settle for less than 10% a year, but that's just me).

If you are willing to take time and spread money around, you might as well spend some time doing some risky investments. This may (or may not) give you more money in the end of two years, keep in mind, that the economy is very unstable, so gambling can be fun! (with that said, no advice from me, be careful!)

Answer 3

I would never go over 1 year, because you don't know, when inflation blows up interest rates.

Often, as more money you can place in one CD, as higher the yield is.

See, if you can invest with a bank, which has ties to the caymans, luxemburg, bermuda or so, you know why.

Answer 4

depends on what your investing the cd in

Answer 5

It would be better to have many high-yield CD's. The best of 24 month CD's will pay you 12-13% per year. Email me at Pupking [at] LuckyMail [dot] Com for a professional advice.

I wish you success!

Answer 6

just forget that you have money