When you hear the word “investing,” you probably think of the high-risk, high-reward world of the stock market. But investing can take a number of different forms, from mutual funds and ETFs, to bonds, to even more conservative vehicles like certificates of deposit (CDs).
CDs offer a guaranteed interest rate that’s typically higher than a savings account, and you get the safety of FDIC insurance to ensure your money will be there when you need it. They’re not right for every situation, but they can be an effective way to save for short-term goals or create a predictable stream of income..
