Many people think that a CD is a safe investment. When it comes to personal finance a lot of people choose to do different things with their money especially when they are looking to protect and grow their savings. A CD or a certificate of deposit is a lot less intimidating that investing in the stock market if you are a big saver. Having cash on hand gives you options to store or invest your money and is part of what it means to have good money management.
In the last couple of years, high yield savings accounts have been popular choices for holding cash for long and short periods of time. Gone are the days of just leaving your money in a savings account or CD or certificates of deposit.
If you are looking to build your wealth and grow your money there are other places that may work better for you than locking up your money in a CD like t-bills or brokerages like fidelity, charles schwab, or vanguard.
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