Did you know that IRAs can hold CDs (Certificates of Deposit)? If you are nearing retirement and are tired of fretting over your nest egg, your best and safest return may be with a federally insured bank (FDIC) or credit union (NCUA) CD. Although many brokers offer CDs for IRAs, the rates available are generally much lower than what you can find direct. You may have to do a little more searching and a little more work up front but you could earn $500 - $1000 more each year. Direct IRA CDs also have other advantages. First, you are in complete control of the funds. The CD is opened up under your title and social security number. You are not just a numbered account at the bank. Secondly, many banks waive early withdrawal penalties on IRA CDs. As a result, if your "Best" rate, is no longer the best, there is a good chance you can move your funds to another IRA CD with a higher rate. Finally, as of April 1, 2006, the FDIC (banks) and NCUA (credit unions) raised the insurance limit for IRAs to $250,000 per institution. Now you can put even more of your funds at the bank or credit union with the best rate. How can it get any better? Best Rate, Best Service, Flexibility, & Control. Please visit our IRA rates Page |
