CD laddering can help you maximize your returns and ensure liquidity, but is the right move to make today?
CD laddering is a popular savings strategy in which savers spread their CD investments across CDs with different maturities. For example, instead of opening a $5,000 5-year CD, you may decide to open five different CDs, like a 1-, 2-, 3-, 4- and 5-year CD, each with a $1,000 deposit. As each account matures over time, you have options: You can either use the money for something you need or open a new 5-year CD and continue earning.
A few weeks ago, it appeared that there may not have been enough time before the potential Fed rate cuts for CD laddering to make sense, according to Willer. 'But some mixed signals from the inflation front may give Powell and the Fed pause to punt the rate decrease toward the end of 2024 as they digest more data,' Willer says.In turn, CD laddering may still be a smart option.
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