To all my mathematical truckers....Certificate of Deposit talk.

My opinion, its not 30 years ago. Wanna save money at a decent percent? Stop borrowing it. Larger gain than my Trucking, stock, and housing. Quit paying interest in this market is the best gain you will find. Now I hardly have much more than a HS education. But my rual grammer school math tells me this. Spend less than you make goes along way.

 

Saving money isn’t always a good thing. If your savings isn’t beating inflation then you are losing.

 

A 401k company might be able to grow your money.

 

My local bank offers more than that on a checking account. I didn’t know that exists anymore but it does.

 

Considering inflation rate you loose money either way

 

If you earned 5mil I'm sure you know better options to multiply your investment

 

To understand CD's you have to first understand the fed interest raising and lowering process.
I.E, is there more confidant money or scared money being spent right now. Then you have to have a basic understanding of this money will be spent in the future.
Not to many seen this boom coming. Espeacialy after the "big pandemic" so to have gotten in to cds a few years ago might not be bad. How ever now that the boom is here and people (general consumers) are spending freely you would you to invest in tangeable assets.
Since your time frame for investing in said cd is only ninety days. You would be better trying to flip a car truck or boat.
Also CD's are not garuntee to go up. You could lose twice the percent you plan on trying to make.
CD also known as a certificate of deposit is literally you giving the bank a loan. In your example your willing to take pennies on the dollar loaning money to an organisation that will make a loan on it to me for any where from 3 to 8.4 percent.
Also your mature date, if its not closed with in 7 business days they will automatically reinvest it for another 90 days.
I commend you for wanting to tie it up some where. If spending is your issue. Put it in a safety lock box. But don't tell them your putting cash in there because that is also not allowed.
I don't any more. But I used to save with ing. About 2010 to 2014 some where in there they where paying 1.2% interest. If you seek digital savings account. Don't put 100% of your money in them in case they get hacked. Being a gambler I had to "secure my money" and it takes 2 days with ing to get cash.

 

@TravR1 may know.

 

APY is interest earned after compounding over a time period.
APR is the annual interest rate over a year but may be compounding daily or monthly.
Interest Rate is the Juice on a loan.
The Vig is the weekly payment due on a loan to cover gambling debts with a bookie.

 

Just go by a simple US Saving Bond you can get an "I" Bond that will go up if inflation goes up. Pays more than any US Bank. If more then 10K buy a US treasury Bill due in 2, 5, 10, 20, years again pays more than a bank cd.