We have all heard about Certificate of Deposit accounts where you lock up your money to the bank for a certain amount of time to make a few extra bucks from interest. You may be wondering if this is a good investment and the answer is it can be.
This probably isn’t the answer most of you wanted to hear, but just like any other investment account; you can’t just toss you money anywhere and hope it doubles. In order to make CD investments work for you, you have to do your part.
Before you sign up for a CD, there are a few basics you will need to know. First of all, your money is locked up, at least for you use, for the period of the CD. If you are not in a situation to lock up your savings, don’t use a CD.
If you can definitely afford to lock up your cash, you might just consider dropping it into your IRA or other type of retirement account. For those financially stable enough to put you money away for long periods of time, this could be your answer.
The second thing you need to understand is the interest rate. Banks will advertise […]
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Apparently there’s a big debate going on in scientific circles. Swimmers and surfers from around the world are coming up with stories that they have somehow been ‘rescued’ by dolphins and scientists are having trouble accepting that. If someone says ‘I was half a mile from the beach and got into trouble, but then a dolphin appeared, swum under me and lifted me up’, the scientists can’t accept it. They don’t believe that dolphins are clever enough to work out that the human is having problems and then planning something like a ‘rescue’. Why not? Dolphins have brains that are just about as big as ours. They communicate, using a complex language of grunts, hoots and whistles. They are a social animal, just like human beings, and biologists argue that it was living in colonies that forced us to develop big brains. Ah, apart from the fact that dolphins are mammals in water and we are mammals on land - oh, and they don’t have arms. Does that make them stupid?A very interesting programme on BBC last night gave two well documented examples. In both cases, there were many witnesses so there was no dispute about what actually happened. In […]
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Young investors have a huge advantage that will allow them to secure their financial future without much effort. There are basic lessons that will help secure your future and allow you to have more fun now.Social Security and pensions probably won’t be around when your teenager reaches retirement age. In the last ten years we’ve experienced a large reduction in pension plans offered to employees. Employers are replacing pension plans with contributory retirement programs. Unfortunately, according to a report of the National Association of State Boards of Education, “most workers with access to these contributory programs are not participating sufficiently to allow them to retire in their sixties without suffering a great decrease in their standard of living.”This may mean that everyone under age 30 will need to self-fund their own retirement. In order to be financially prepared, it is important they start investing young and avoid financial pitfalls that plague many of their peers. This requires they learn the basic financial education skills so they are financially prepared.To be financially prepared for retirements today’s youth will need to have over a million dollars to be fully financially prepared for a self-funded retirement. After calculating the […]
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