Money question...

[280plus]

I have a CD maturing at the end of the month. If I roll it over into another 5 year CD it will have a rate of 5.16% and an APY of 5.30%. Best I could find at Bankrate was 5.6 APY. Should I roll it over where it is now and save all the hassle or is there something else better out there someone would like to suggest? Should I not tie it up so long and take a lower rate?

[BozemanMT]

I wouldn't lock up my money for 5 years for a measly 5%.
Actually, i wouldn't lock up my money for 5 years at all.
I'm getting 4.7% in my money market.
In time of rising rates, you want short duration, in falling rates you want long duration.
I think rates have no where to go but up.

[The Rabbi]

I'm with the Bozeman.  With rates almost certain to go up why lock up for any time?  Money market funds give good returns that can increase and flexibility.  Check for expenses and look for funds with lowest expense ratios.

[280plus]

Yup, that's what I'm thinking on the duration. Soon as I lock in 6 it'll go up and I'll be losing out. I'll look into money market funds, thanks!

[grampster]

Heck, even State Farm has an 18 month CD @ 5.5%

[Phantom Warrior]

I invest with Thrivent Financial, a Lutheran financial company.  I've got money in one of their high yield bond funds and I've been getting a monthly dividend payment that would works out to about 7% APR.  Plus I can pull it out any time I want.  

I have to go with BozemanMT.  I wouldn't lock up my money for five years, period.  Esp when you can get as good or better in a much more flexible investment.

[Jamisjockey]

CD's are bad because you don't have access to the money.   Depending on the amount, start thinking about a real investment with it, like a Mutual Fund.

[K Frame]

Hell, even ING direct has rates that are almost that high at times.

Check their website.

[Jamisjockey]

Hell, even ING direct has rates that are almost that high at times.

Check their website.

We just sold our home a few weeks ago....I've got over 64k sitting in ING right now....

[TarpleyG]

I have a simple savings account with HSBC that earns 5.05% and the money is liquid.  I would look for an option like that if it were me.

Greg