Are there alternatives to CDs?

Yes! One alternative is a MYGA, which stands for Multi-Year Guaranteed Annuity.

A MYGA is similar to a CD in that it is issued for a specific amount of time with a specific rate structure. Whereas CDs are guaranteed by the FDIC, a MYGA is guaranteed by an insurance company.

MYGA advantages over CDs include:

Higher interest rates offered
Income taxes can be deferred until interest is paid

Disadvantages include:

MYGA are guaranteed by an insurance company. CDs are guaranteed by the FDIC

I offer a no-cost, no-obligation phone consultation to review current rates and answer any questions you may have on how MYGAs can be an asset class to consider for your portfolio.