Maximizing CD Earnings: Pros, Cons, and Tips

Certificate of deposit (CD) APYs are currently higher than they've been in decades, making them an attractive option for savers. While 5-year CDs offer impressive guaranteed returns and the safety of FDIC insurance, they lack accessibility and come with interest rate and inflation risks. However, considering the current interest rate and inflationary environment, the potential returns on a five-year CD are hard to ignore, with minimal risks compared to previous years.