240322 CORPA Financial Education Videos Q2 2024 CDLadder FA

Rising interest rates don’t always mean bad news. For savvy savers, they’re an opportunity to maximize the return on your savings.

One savings option is a certificate of deposit, or CD. This type of account usually offers a higher interest rate than a regular savings account because you leave the money untouched for an agreed-upon period.

However, you don’t have immediate access to your money, and if you withdraw it early, you may be charged a penalty. A CD ladder model could help you get the best of both: save over a period and still have access to some funds along the way.