Tuesday, June 14, 2011

CDs Offer You More for Your Money

Call Sterling Van Dyke Credit Union at 586.264.1212 for an appointment to discuss ways we can help you plan your investing.Consider these helpful guidelines:

Identify your needs and goals up front. Do you need income now or later? Plan your investing to meet your needs and goals.

Choose the longest term you can afford. The longer the term, the higher the interest rate.

Allow the interest to compound. If you are not relying on the interest as part of your income, don’t spend the interest when you receive it. Let it build up so that you can earn interest on your interest.

Determine how much liquidity you need. Keep only the amount of money necessary to cover short-term needs in a short term CD. Keep the rest in longer-term, higher-interest CDs.

From LoveMyCreditUnion.org

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