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However, it’s crucial that you act sooner rather than later to earn the greatest return on yourinvestment.
Read on forher recommendation for the smartest money move you might makethis year and why the timing matters.
The investment vehicle she recommends to get paid a guaranteed 5% is acertificate of deposit.
Why Does Orman Say You Should Make the Move Now?
CD rates crept into the 5.00% annual percentage yield range over a year ago.
So why is Orman urging people to invest in CDs now?
Its because interest rates may be at their peak.
Even if rates only drop slightly,finding CD APYsabove 5.00% could become challenging.
Right now, the highest APY it’s possible for you to find is around 5.15%.
Why Does Orman Recommend a 12- or 18-Month Term?
How Soon Should You Make This Money Move?
Is a CD Right for You?
Depending on the terms of your CD, a penalty could drastically reduce any interest you earn.
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