Is a CD the Safest Place for an Investment?

Ramsey Everyday Millionaires

Ramsey Network

Careers, Investing, Business

4.6 • 3.6K Ratings

🗓️ 24 January 2024

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

Listen to how ordinary people built extraordinary wealth - and how you can too. You’ll learn how millionaires live on less than they make, avoid debt, invest, are disciplined and responsible! Featuring hosts from the Ramsey Network: Dave Ramsey, Ken Coleman, Rachel Cruze, John Delony, George Kamel & Jade Warshaw. Helpful Resources: Need Help with your investments? Click here to connect with a SmartVestor Pro. To learn more about how to plan for Retirement click here To learn more about Investing click here Create a college savings plan for your child’s future. Click here to connect with a SmartVestor Pro. Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Transcript

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0:00.0	This episode is sponsored by SmartVester. Connect with an investing pro for free at Ramsey Solutions.
0:11.0	Com slash invest.
0:22.0	You're listening to Ramsey everyday millionaires where we talk investing, retirement, building wealth, and outrageous generosity. Juliet is with us in Greenville, South Carolina as promised.
0:27.0	Hi Juliet, how can we help?
0:28.0	Well, I wanted to ask her opinion.
0:31.0	Me and my husband last year had about $250,000 and we invested at a CEE at a credit union and it has maturedures and we're wondering if we should go back to the same thing
0:49.6	invested in the CD and are to look elsewhere and we're we really don't want to take a
0:58.7	risk and with the money so we're both 80 years old and we didn't feel like we wanted to take a risk in the stock market,
1:08.8	but we wanted your opinion of what you thought we should do.
1:14.0	I would go right back and renew that CD.
1:16.9	You would.
1:17.9	Yeah.
1:18.9	It doesn't pay very much.
1:20.0	It's not a very good long-term investment, but it gives you a lot of peace and you told me three times you didn't want risk.
1:28.0	And I heard you.
1:30.0	And I heard you.
1:31.0	Okay.
1:32.0	Okay. So I'm you. Okay. Okay. So I'm 63 and I don't have any CDs all of mine is
1:37.8	invested in mutual funds in the stock market but I'm comfortable with that risk and I can tell by talking to you
1:45.8	that if you did that with your 250,000 you would be awake at night scared.
1:51.8	You're probably exactly right.
1:53.8	And the last thing I want to cause is a sweet 80 year old person to be awake at night.
	...

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