Picking the Best 10-year CD
If you are unsure about CDs vs T-Bills, seek advice
October 18, 2023
When picking the best 10-year CD, consider more than the interest rate.
“Weigh factors such as minimum deposit requirements, fees and early withdrawal penalties,” said Michael Ashley Schulman, chief investor officer at Running Point. “Fees and penalties can easily water down the interest you earn.”
…from an October 18, 2023 USA TODAY article by John Egan and Jenn Jones, “Best 10-year CD rates of October 2023”
Some banks and credit unions may offer promotional rates for new customers or for a limited time; therefore check if the CD has a promotional rate that may change.
Also note that regardless of how long you lock up your money for in a CD, you have to pay #tax on any CD interest the year it was earned💸. For example, on a 5-year or 10-year CD, you’ll pay taxes annually for quite some time on income that you can’t access! Therefore, don’t forget to consider the flexibility and security of T-BIlls and Treasuries💰
If you are unsure about which CD term to choose or investment to make, consider seeking advice from a multifamily office or fiduciary who can provide you with personalized recommendations based on your financial goals and risk tolerance.
https://www.usatoday.com/money/blueprint/banking/cds/best-10-year-cd-rates/
Disclosure: The opinions expressed are those of Running Point Capital Advisors, LLC (Running Point) and are subject to change without notice. The opinions referenced are as of the date of publication, may be modified due to changes in the market or economic conditions, and may not necessarily come to pass. Past performance is not indicative of future results. Forward-looking statements cannot be guaranteed. Running Point is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about Running Point’s investment advisory services and fees can be found in its Form ADV Part 2, which is available upon request. RP-23-105
