Investing $10,000 in a CD: How Much You Could Earn in a Year
A Certificate of Deposit (CD) can be a great way to hold cash in a relatively low-risk investment for fixed expenses in the future.
Investing $10,000 in a CD: How Much You Could Earn in a Year
By: Scott Sturgeon, JD, MBA, CFP®
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By investing $10,000 in a Certificate of Deposit (CD), you could earn different amounts of interest depending on the type of CD you buy and which bank or financial institution you buy it from. Currently, CD yields span from around 1% to 5%, which could earn you up to $500 in a year. Remember, banks charge early withdrawal penalties on CDs, so you need to make sure you can have your money locked up for a set period of time.
In a recent article on SuperMoney, Founder & Senior Wealth Advisor Scott Sturgeon discussed the pros & cons of holding cash in CD’s and how a CD could be a fit in your overall financial plan.
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