It’s a struggle for any investor trying to make money on Wall Street these days. It is a big risk investing in stocks and I think the average investor should stay away from stocks in the year 2009. An interest bearing account is your best move right now, so you do get some earnings coming in this year and don’t risk any exposure to a fragile marketplace right now. I think bank CDs is your safest bet right now and the highest interest you will find out there. The bank CD rates do change often, but you can lock in a certain interest rate that you like for 6 months, 1 year, 2 years, or even 5 years. Every bank is a little different on the time frame for their CD rates, so check around to see which banks has the right CD for you.

Normally bank rates are the lowest out there for investors; when you compare it to the typical interest rates you can get from stocks or a mutual fund. These aren’t normal times and the old investing rules don’t apply anymore these days. You can find websites online that show you various banks and their CD rates. This can be a useful tool to investors who are searching for the best CD rates available. It is simple to invest in a CD and you just take a small sum of money and get your bank to start a CD investment for you. If you choose to take a 1 year CD; then you can collect your money in 1 year or invest more money into it in 1 year. If you withdraw early; then there are strict penalties. For those investors that can leave the money alone, this is a good way to grow your money; while you wait for your CD to mature. The bank CDs are your best choice to make money right now and for the remainder of 2009.

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Tags: bank cd rates, bank cds, bank rates, best cd rates, cd rates

This entry was posted on April 7, 2009 at 2:24 am. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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