There's no shortage of CDs offering APYs in excess of 5-6%, but just because they’re available doesn’t necessarily mean you should jump at the chance to invest in one, or even that you can take advantage of them. As the Fed futures point to likley interest rate cuts in 2024, should you invest in high yielding CDs today?
CBS MarketWatch spoke with Ark Royal Wealth Management's Managing Principal Mike Palmer about how investors should approach CDs. Palmer emphasized that any CD purchase should fit into one's overall financial plan: "Before locking yourself into a CD you should take into consideration what the maturity of the CD is, how much you’re investing and what other sources of liquidity you have," said Palmer.
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