Yik Yak logo
Download TikTok Instagram X
Yik Yak icon
Join communities on Yik Yak Download
Personal Finance icon
Personal Finance 17w
just renewed my CD and interest went from 4.78 to 3.6 😕 what is gonna happen to future rates?
comment

19
upvote 3 downvote
default user profile icon
Anonymous 17w

Might as well just keep it in an HYSA and dump into index funds once rates drop

upvote 3 downvote
default user profile icon
Anonymous 17w

Why use a CD?

upvote 2 downvote
default user profile icon
Anonymous 17w

Honestly pray they continue to fall school is way more debt than I have in a cd or hysa so lower rates mean better debt long term rates right now are painful

upvote 1 downvote
default user profile icon
Anonymous 17w

Welp, interest rates going down a bit. So less incentive for banks to offer rates to get customers to invest If interest rates keep going down then interest rates like CD/HYSA should go down too. Vice versa I think

upvote 1 downvote
default user profile icon
Anonymous replying to -> #1 17w

Just open a HYSA

upvote 2 downvote
default user profile icon
Anonymous replying to -> #1 17w

Lock in a rate

upvote 0 downvote
default user profile icon
Anonymous replying to -> #2 17w

I understand locking in a rate but if it’s a short term CD there really isn’t that much of a benefit

upvote 0 downvote
default user profile icon
Anonymous replying to -> #1 17w

i’ve never found an hysa with better rates. i also keep the rest in a hysa so i can access it

upvote 2 downvote
default user profile icon
Anonymous replying to -> #1 17w

Not everyone is a broke college student. If I had 100k in investable cash that i dont need currently I’d rather take my talents to a 7 month CD at 4% rather than a HYSA at a slightly higher or lower rate stripping out the risk of falling rates

upvote 1 downvote
default user profile icon
Anonymous replying to -> #2 17w

I’m not a broke college student lmfao

upvote 1 downvote
default user profile icon
Anonymous replying to -> #2 17w

Cash I spend goes in a HYSA and gets transferred instantly to check when I need more long term money I want to grow goes into VOO

upvote 1 downvote
default user profile icon
Anonymous replying to -> #2 17w

A CD is more considered a savings instrument vs an investment.

upvote 1 downvote
default user profile icon
Anonymous replying to -> #1 17w

Congratulations we are debating different things. You decided to go the personalized route I took the route of why someone might use a cd over an hysa answering your initial question

upvote 1 downvote
default user profile icon
Anonymous replying to -> #2 17w

I didn’t debate at all I just said you are wrong for assuming I’m a broke college student. And also in your reply you said “If I had 100k” so you are personalizing it too shocker personal finance is personal 😳

upvote 1 downvote
default user profile icon
Anonymous replying to -> #1 17w

It was an example to show why someone would use a CD. It’s clear you had zero intention on learning why someone would use the instrument. Honestly you probably already knew why they’re used and just wanted to push your HYSA strategy which I completely agree with. There’s no reason to ask the question in the first place

upvote 1 downvote
default user profile icon
Anonymous replying to -> #1 17w

Personally I don’t touch this trash I yolo into ionq and fartcoin

upvote 2 downvote
default user profile icon
Anonymous replying to -> #2 17w

You are more right with your third sentence. I asked the question because context matters to give good advice I don’t know anything about OP’s personal life or what their goal is. There could be a few reasons why they would use CDs but you’d never know with the lack of information given hence why I asked “Why CDs”

upvote 1 downvote
default user profile icon
Anonymous replying to -> #1 17w

“Why use a CD”*

upvote 1 downvote
default user profile icon
Anonymous replying to -> #1 17w

We are on the same wavelength now always have been probably

upvote 1 downvote