If you already have adequate emergency savings, but you want to keep money in a safe place for fixed period of time, putting your cash into certificates of deposit can make you money without having to endure the risk of a volatile stock market, notes the Securities and Exchange Commission
But make sure you won’t need the cash before your CD matures, or you could be subject to a penalty fee for early withdrawal or have to forfeit some of the interest you earned, the SEC says.
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