Why Invest in Certificates of Deposit?

Video Transcript

"This is Financial Advisor Patrick Munro talking about why should you invest in certificates of deposit. I look at someone's financial life like a triangle. On the very bottom is savings. Moving up we move into a bigger world of risk, perhaps mutual funds and stocks. Moving up higher we have annuities and things of that nature which are designed for later in retirement. The bedrock of any good retirement is a good core bedrock of cash savings in the form of certificates of deposit. These form a great basis for an emergency fund as well, not just retirement money, because in life things come up that you may need emergency money for, and putting money away for, well for a rainy day as they say, is oftentimes best achieved by using a certificate of deposit. These are available from various banks, and of course you can use the Internet to enhance your search results for the very best rates on your money. Bankrate.com is a great place to find the best rates for certificates of deposit. This is Financial Advisor Patrick Munro talking about why we should invest in Certificates of Deposit."