What are the top 7 reasons why I should not open a CD?

Thinking about putting your money in a Certificate of Deposit (CD)? Wondering if it's the best option for your savings? In this episode of The Ask Ralph Show, Ralph Estep Jr. breaks down the Top 7 Reasons Why You Should Not Open a CD and highlights the potential risks and opportunity costs. From limited liquidity to inflation risks, Ralph provides the insights you need to make an informed decision. Tune in to learn how to align your savings strategy with your financial goals while avoiding common pitfalls.

https://www.askralphpodcast.com/should-not-open-a-CD/

Podcast Timestamps:
00:00 Episode Overview
00:51 Listener’s Question: Should I Open a CD?
01:59 Bible Verse: Matthew 25:14-30 – The Parable of the Talents
04:53 Real-Life Story: Martha’s CD Dilemma and the $6,875 Penalty
06:44 Key Reasons Why CDs Might Not Be the Best Option
06:59 #1 Limited Liquidity
07:44 #2 High Early Withdrawal Penalties
08:16 #3 Lower Returns
09:12 #4 Tax Implications
09:35 #5 Opportunity Cost
09:57 #6 Inflation Risk
10:40 #7 Reinvestment Risks
14:29 Call to Action
16:57 Actionable Steps to Evaluate a CD as an Investment
18:10 Closing

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