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01-29-2006, 05:31 PM
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About CD investing
I was at work today and I was talking about interest rates and she informed me about having the interest from a CD put into your savings account monthly so you can earn interest on your interest I never thought of that I always let the bank keep the interest in my CD. Does anyone else have any suggestions on CD's that I haven't been aware of? I am up for any "Secrets of CD Investing".
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01-29-2006, 06:54 PM
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Re: About CD investing
Gavin, be aware that the advertised APY on the CD assumes that you reinvest the interest. If you take the interest out and put it in a savings account with a lower interest rate, you'll get a lower effective APY.
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