Author name: Allison Sakounthong

Understanding the Different Types of IRAs

Individual Retirement Accounts (IRAs) are essential for building a secure financial future. They offer tax advantages that can significantly enhance your savings over time. Choosing the right type of IRA depends on your financial goals, tax situation, and income. Traditional IRA A Traditional IRA allows you to contribute pre-tax income, which can lower your taxable …

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Millennial Financial Planning

Why Millennials are Rediscovering CDs: A Smart Move for Financial Planning

As a millennial navigating the complexities of personal finance, Duncan Taylor always sought ways to balance risk and reward. Growing up in a world marked by economic uncertainty, he learned to be cautious with his money. Enter the Certificate of Deposit (CD)—a seemingly old-school investment tool that’s been finding new relevance among younger generations. In …

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CDFI CD Benefits

The Benefits of Opening a Certificate of Deposit (CD) with a Community Development Financial Institution (CDFI) 

In a time when financial decisions can impact personal finances and community well-being, choosing where to open a certificate of deposit (CD) can be a significant opportunity. One option that stands out for its dual benefits of financial returns and social impact is a CD with a Community Development Financial Institution (CDFI).   What is a …

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CD Valet Ratewatcher: The Top CDFI CD Rates of August 2024

What if your savings could grow your wealth and drive positive social change? Community Development Financial Institution (CDFI) certificates of deposit (CDs) make this possible. CDFIs can be surprisingly high-rate payers for CDs and while some offers are geographically restricted, there are also nationwide CDFIs with attractive rates that are worth a look. A CDFI …

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Taxes and Certificates of Deposit: What You Need to Know 

When do we not think about taxes? We certainly think about taxes when we consider how we invest our money. And taxes are also top-of-mind at the end of the calendar year.    Certificates of Deposit (CDs) have gained popularity this year, given their low risk and high return relative to other options. But as you …

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Ratewatcher Picks July 2024

CD Valet Ratewatcher: The Best 3-Month CD Rates

In recent months, more savers may be exploring 3-month CDs, likely due to banks and credit unions offering higher rates for shorter terms before the Federal Reserve possibly drops rates in the coming months. This may reflect a growing preference among savers to remain flexible and responsive to economic fluctuations, especially in a climate where …

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CD Scams

Don’t Get Had with These Certificates of Deposit Scams

Savers are no strangers to the growing number of fake high-yield CDs offered by scammers. The criminals are getting more savvy at making fake CDs seem legitimate and using them to steal personal and financial information. This makes it more difficult for consumers to decipher whether they’re being tricked or if they’ve found a legitimate …

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Ratewatcher Picks of the Week

CD Valet Ratewatcher Top 6-Month Rate Picks of the Week

Despite the FOMC forecasting three rate cuts in 2024, the Federal Reserve Committee predicts rates as high as 5% sticking around for longer due to the slower-than-expected drop in inflation rates. Higher interest rates have been the Federal Reserve’s strategy to lower inflation. However, despite the most recent report showing April’s inflation rates dropping to …

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