Why CDs Are Great for Short-Term, Terrible for Long-Term

Ramsey Everyday Millionaires

Ramsey Network

Investing, Careers, Business

4.6 • 3.6K Ratings

🗓️ 27 September 2023

⏱️ 6 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 Smart Vestor.
0:07.2	Connect with an investing pro for free at RamseySolutions.com slash invest.
0:15.2	You're listening to Ramsey Everyday Millionaires, where we talk investing, retirement, building
0:19.7	wealth, and outrageous generosity.
0:23.1	Madison is in Los Angeles, hi Madison, welcome to the Ramsey show.
0:26.9	Hi.
0:27.9	Hi, what's up?
0:28.9	Thank you for taking my call.
0:30.3	Sure.
0:31.3	I am newly married and we're just attempting to kind of figure out our finances.
0:37.0	We both have zero debt.
0:39.8	We own our cars and have about $125,000 sitting in a savings account.
0:45.6	So we are saving to buy a home.
0:47.5	We're currently renting, but we are just not sure what to do with that money sitting
0:52.2	in the savings account.
0:53.2	And if we should invest into some CDs, or what your recommendations for that would
0:57.4	be.
0:58.4	Okay, CDs are certificates of deposit.
1:02.4	It's not an investment.
1:03.4	It's just a savings account.
1:06.0	So should you put it in savings or should you put it in an investment, when are you going
1:09.5	to buy?
	...

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