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I picked up a CD this morning with Fidelity. A little longer term than I usually do, though. (15 months) @ 5.50%. Pays monthly and I like that too. Interest payments will go back into the Fidelity cash account that earns 2.65% so I'll be earning interest on interest. Ca-ching
I have a 5.8% 5 year cd that I bought back in November, first call date has come and gone. I suspect it will be called sometime this year though.
Wow. I haven't seen one with that high of a rate, but I guess I have only looked at non-callable CDs. I picked up one that has a coupon rate of 5.55%, but lately only short-term CDs have coupons around 5.0-5.1%, and anything out beyond 12 months is below 5.
As expected, my callable brokered CDs got called in April, 6 months after opening them. My non-callable CDs continue until their maturity dates.
The timing is actually good, as I don't want to generate too much taxable interest in my regular brokerage account.
Will be deciding on ETFs to purchase now that the CD funds have swept back in.
Maybe as an alternative do CD ladder. Choose between 1yr, 2yr, 5yr ladders. Need $4k for 4 CD 1& 2 yr or $5k for 5 CD 5yr ladder. In the 1yr have 3,6,9,12 month CD to start. Every 3 months convert 3 month into 1yr. You will have to look up current interest rates. At least you would not have CD mature early. Yes, is a good product for some.
Thanks, yes I'm aware of CD ladders, which I even discussed upstream, which was in 2023.
Now, I need to generate less or no more federal and state taxable income in that account for the rest of 2024, which is why I'm looking towards redeploying into tax efficient funds.
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