This week, I’m talking about 5 types of bonds to own now. 

Today, I want to turn to a very important question that I get asked all the time, and it goes something like this: “Ashley, I’m saving up for a house remodel, to buy a new car, for my daughter’s wedding - whatever this big expense is - and I have my money in a savings account that’s earning me $12 of interest a year. What can I invest in that will earn me a better return? 

When you have money set aside for a specific goal, it’s important that you invest this wisely and base your investment choices on how long from now you’ll need the funds. 

And that’s why I still like short term CDs and why I would still buy them for clients who have specific time-based short-term savings goals. If you’ll need funds for a specific purchase within the next 6 months to 2 years, it’s not wise to risk losing those funds, but you’re leaving money on the table if you just leave the money in cash. With a CD that matches the timing of when you’ll need funds, you’ll at least earn a little bit of interest without risking losing your investment.

That’s it for today. Thanks for listening. My name is Ashley Micciche and this is the One Minute Retirement Tip.

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