The failure to research CD rates can cost you a fortune since most that invest casually do rarely obtain the best possible deal with this type of investment. Being a serious investor is hard work that takes dedication to achieve your goals.

Researching the best possible CD rates is not as hard as it may seem. One thing you should avoid is going to a branch office and asking about their CDs in person. This is the slowest and most inefficient way of proceeding with this conservative investment. Most financial institutions that have decent to great rates advertise them on the internet. If a bank does not and suggest you travel to their branch office, odds are that their CD rates are not attractive and they hope to get you into their office where comparing to other financial institutions is no longer available to you.

Remember, knowledge is power so never allow any institution to limit your resources. The use of the telephone or internet is the fastest, easiest, and most cost effective way of obtaining the knowledge on who has the best CD rates in your area.

As a simple example, Chase Manhattan Bank is a nationwide institution with a very good reputation. Their current CD rate on a 1 year CD is .025% APY. Another nationwide bank is ING that currently has a 1 year CD earning an APY of 1.00%. Then, there is Ally Bank with a 1 year CD that is earning an APY of 1.29% APY. By just comparing these three financial institutions, you can see the difference of over 4 times the amount of interest you can accrue from the lowest to the highest.

This is just one example of how your failure to research CD rates can cost you a fortune. Many financial institutions are in business to make the largest profit for them while giving out the lowest possible returns so they make money, not you.

We strive to bring you the latest and most accurate data possible from the home sites of the financial institutions we name. Always remember, the bigger the risk, the larger the reward or loss. Invest with caution.

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Best CDs for Senior Citizens

The best CDs for Senior Citizens would need to fit their needs at this stage in their lives. It is also dependent on how they planned for their retirement. Some retirees need to use their CDs as a source of income. For these individuals, the short term CDs would be best so the capital can be easily accessed when it is needed without the assessing of a penalty.

For those that can live off of the interest that is earned from the CDs, long or short term would suffice. This is when the CD rates play a bigger part of the picture. The better the rate of return, the more they will have to spend.

For those that have a substantial amount of savings, the CD ladder is a wise mechanism for their investment. This allows for the best possible returns on longer term CDs to be invested in while having CDs maturing at regular intervals so the capital can be easily accessed. These intervals can be biannually or annually, depending on the specific needs of the senior citizen.

For the CDs that are part of an IRA program, taxes play a large part of when a person would want to make a withdrawal of the capital that was invested. By reducing the tax liability, more of the senior’s money can be saved and go towards their expenses rather than the US government coffers.

The best CDs for Senior Citizens are wholly dependent on their needs and financial plans for the future. Determining how much a person needs and the time period in which they will need it will determine their best course of action.

We strive to bring you the latest and most accurate data possible from the home sites of the financial institutions we name. Always remember, the bigger the risk, the larger the reward or loss. Invest with caution.

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How to Buy the Right CD for You

How to buy the Best CD Rates for you is determined by your financial goals and needs, in combination with what stage of life you are currently in. For most Americans, the CD ladder is the best financial move they can make. This financial tool allows for constant return on your investment while still having regular access to the principal amounts that were invested.

The specific CD rates for each rung of the ladder are different. Generally, the longer the term, the greater the APY each deposit will earn. When this type of mechanism is started, the lower term CDs will not be earning a very high rate in all cases, but as the terms come due, this will change. If a person invests in a 1, 2, 3, 4 and 5 year CDs to begin with, then each year a CD will be maturing and access to the principal will be possible without any penalty.

With each maturing CD, the principal can then be reinvested in the longest term that has a better CD rate. Within 5 years with this example and all of the maturing CDs reinvested in another 5 year CD, the maximum return on investment can be obtained.

This mechanism is good for all ages of investors. For the people close to retirement, a majority, if not all, of their investment dollars should be done this way. For younger investors, only a portion of their retirement money should be in this conservative type investment, generally 20% to 30%. This approach will prevent a total loss of the investment due to changes in the economic conditions that might negatively affect other types of investments.

This is one way on how to buy the right CD for you. Best of all with this conservative investment, your principal is guaranteed by the FDIC.

We strive to bring you the latest and most accurate data possible from the home sites of the financial institutions we name. Always remember, the bigger the risk, the larger the reward or loss. Invest with caution.

To know more about the Citibank CD Rates, Best CD Rates, PNC CD Rates, highest cd rates, Chase CD Rates, you must visit – http://bestcdratesinformation.typepad.com