There are many investment options out there. Knowing the pros and cons of each will help you make the right decision about which one is right for you.
The pros of investing in a CD rather than other investments (stocks, money-market accounts, 401ks, etc.) or just keeping it in savings are the following:
The cons of investing in a CD would be:
If you need a place to put your money, and you aren’t interested in living through the precarious highs and lows of the market, CDs are a great option. You must make sure, however, that you can look far enough ahead to know that this is money that you will not need until the CD matures. Make sure to do your research and look around at banks and brokerage firms. These are competitive times, and you should take advantage of that while you can.
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