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EP 27: CD Rates Are Over 5%: Should You Buy Them?

Dec 1, 2023

Beginning in March 2022, the Federal Reserve began raising interest rates in an attempt to mitigate high inflation. Over the course of the last two years, the Federal Reserve has raised interest rates 11 times resulting in targeted interest rates that are 5.25% higher than they were at the beginning of 2022. In this episode, we discuss how the rapid increase in interest rates has resulted in certificates of deposit (CDs) paying over 5% to savers. With the increase in CD rates, the advertisement of CD specials has exploded with nearly every bank marketing their attractive CD rates to the public. Naturally, this has led many individuals to ask the question whether CDs are right for them. If you are interested in learning about CDs and points to consider when determining if they are appropriate for your situation as well as alternatives that may make more sense in specific cases, we think you’ll enjoy this episode. Thanks for listening! For more details on certificates of deposit, check out our blog post covering the same topic at https://pw-wm.com/learn/investing/cd-rates-are-over-5-should-you-buy-them/.

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For more details on certificates of deposit, check out our blog post covering the same topic.

About The Podcast Hosts

Steve & Nathan

Steve and Nathan have a passion for teaching others about finances and how to build the financial independence that is achievable with the proper planning. In their roles at Prairiewood Wealth Management, both Nathan and Steve focus on providing comprehensive financial advice to ensure their clients have a coordinated plan that covers all aspects of their finances including their investments, insurance, estate plan, and charitable giving goals.

As Certified Public Accountants (CPAs), both Nathan and Steve believe that one of the most overlooked aspects of financial advice is the tax impacts that result. Accordingly, a core focus of the advice they give centers on integrating tax strategy into the overall financial advising process.

Steve and Nathan are excited to share their knowledge through this podcast as well as their blog with the goal of helping you effectively manage your family’s wealth and ensure you have a comprehensive and coordinated plan for your future.

About Steve & Nathan