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I have a trust fund of 15,000$ for m16 yr child. i have to invest in cd's. should i go with 3, 6, or 1yr? |
this money was from an insurance pymt. she was was injured at 6 yr. old. well ever since that time the rates continued to decline. so i have been doing the 6 month cert. i really dont know what i am doing. she expects this money at 18. i sure was wishing she could have made a little money after all these years. If you are going to do a CD right now, I'd do a 3-month as their rates are higher than 6-months, as crazy as that sounds. Cd's are one of the worst things to do with money, they barely beat inflation... go with a year..rates will continue to drop this year so lock in the best you can. If you are planning on a CD, then I would suggest puting your money in the longest term possible to fit your needs. Generaly speaking, of course, longer term CD's offer higher annual interest rates which gives you more money. |
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