Hello:
I`d like to get some of the economist`s opinion on whether or not I should put a majority of my savings account into a certificate of deposit (CD)? I know pretty much nothing about economics and today`s economy, so i`m a little unsure if its a wise decision or not. I am one of the people at the bank who only deposits, never withdraws from their savings account. I had though of doing it a year ago, but since I was going to buy a car, decided aganist it. Now that I have my car, and don`t see myself needing money from account for quite some time, i`m wondering if nows a good time to put it in a CD. I do keep hearing from people that the market will eventually jump, which could really screw me up if my money is at a fixed interest rate.
So any advice on this topic? My one friend was telling me to put it in a mutual fund, but I`m not to sure on how they work. I`m not looking to get rich of the CD, just a little extra. I definately want the safest route, i`m not at a point where I can "gamble" with my money.
I think i`m going to sit down at the bank either tommorow or Friday, but until then any information on the topic would be greatly appreciated. :2thumbs:
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