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Ken Tumin founded the Bank Deals Blog in 2005 and has been passionately covering the best deposit deals ever since. He is frequently referenced by The New York Times, The Wall Street Journal, and other publications as a top expert, but he is first and foremost a fellow deal seeker and member of the wonderful community of savers that frequents DepositAccounts.

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CD Rate History Review and CD Strategies for 2012

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When 2010 had started it had been over a year since the Fed slashed the Fed funds rate to near zero. So it seemed reasonable that interest rates would probably be going up sometime during 2010. Here's what one deposit account "expert" and blogger said in this Moolanomy blog post:

So what is the best cash strategy for 2010?

If you pay attention to CD rates you know that they’re at the lowest levels since the 80s right now. So it doesn’t make much sense to lock in to a long term CD right now because they’re bound to increase when the unemployment rate drops and the Fed decides to raise interest rates.

As you know, rates have only fallen since 2010. I took a look at some deposit rates at the start of 2010. Here is how some of them have changed in the last two years:

  • PenFed 5-yr CD APY: 3.50% in Jan 10, 2.50% in Jan 11 & 2.25% in Dec 11
  • Ally 5-yr CD APY: 3.10% in Jan 10, 2.40% in Jan 11 & 1.79% in Dec 11
  • Alliant CU 1-yr CD APY: 2.10% in Jan 10, 1.30% in Jan 11 & 1.10% in Dec 11
  • Ally 1-yr CD APY: 1.84% in Jan 10, 1.27% in Jan 11 & 0.99% in Dec 11
  • ING Direct Sav APY: 1.30% in Jan 10, 1.10% in Jan 11 & 0.85% in Dec 11
  • Ally Sav APY: 1.50% in Jan 10, 1.09% in Jan 11 & 0.89% in Dec 11
  • Alliant CU Sav APY: 2.00% in Jan 10, 1.15% in Jan 11 & 1.15% in Dec 11

As you can see, CDs have returned more than savings accounts in the last few years. It's very hard to predict future interest rates. So if you're considering changing your CD ladder plans based on your expectation of future interest rates, be careful. You might be surprised in how interest rates turn out.

Based on the Fed's mid-2013 pledge, I think higher deposit rates are unlikely for 2012. If we do see improvements in the economy and inflation rises, it's possible that we may see some increase in long-term rates. However, as we learned this year, no matter how low interest are, it's always possible for interest rates to fall (except when rates fall to zero).

One reason for choosing a CD ladder is that it doesn't require predicting future interest rates. One change you might want to make to your CD ladders is to choose CDs with mild early withdrawal penalties. That will make breaking CDs less costly if rates do rise substantially before the CD matures. You'll be able to break the CD early and reinvest the money into higher-rate CDs. As we have long discussed, there are risks that the bank could increase the EWP before maturity. Early this month I reviewed this CD strategy with some popular internet banks and all-access credit unions.

Last year I reviewed some CD ladder changes and alternatives. Have you changed your CD ladders this year? Have you gone with longer or shorter terms? Is the bank's early withdrawal penalty an important factor for your CD ladders?

  Tags: CD rates

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Comments
53 comments.
Comment #1 by Anonymous posted on
Anonymous
I am very comfortable with the two cd's that I have commited to in November 2011 60 months 2.83% APY and December 2011 30 month APY 3.00% APY. Both currently have a 180 day early withdrawal penalty and do not have a right to refuse clause. I feel these interest rates are at the high end considering the economic enviorment. There is always some degree of speculation! I feel that 5 years is as far as I personally want to reach out and a 6 month penalty seems reasonable.  

9
Comment #2 by Anonymous posted on
Anonymous
Hi, what was the December 2011 30 month APY 3.00% APY you picked up?  Can you give a link?

4
Comment #3 by Grace (anonymous) posted on
Grace
I would only go long with a CD now.  Even if rates recover to the upside, it will be at least 1-2 yrs. before that happens.  No way it pays to do a .50%-1.5% CD whatsoever.   I have been doing 2.25%-2.85% long-term CD's (5 to 10 yrs.) and that seems like the way to go.  By the way, I have no plans to do an early withdrawal on these.  Even if rates rise, and I hold them to maturity, they seem like a better deal than having short-term lousy-rate CD's.

7
Comment #4 by Shorebreak posted on
Shorebreak
I have lengthened my CD ladder from five years out to seven years to endure this ultra-low interest environment. The EWP has really not come into play as a deal breaker since the laddering will negate the effects if rates gradually increase in the future. I do not expect a rapid rise in rates coming but who knows, with any reasonable certainty, when this bleeding will stop?

4
Comment #5 by Pam (anonymous) posted on
Pam
Shorebreak-

My sister in law and her husband went  to their financial planner for their once a yr. meeting.  He said that even he doesn't know what to tell clients rt now as to how much money they will need in retirement.  If you cant even get 3% in a secured investment/bond/Cd, how much do you need to retire comfortably?  I'd really like to hear what people think of this issue.  We are in our very early 50s and will only do conservative investments.  I have four siblings ranging in age from 45 to 53, all have been hurt very badly in the stock market.  At these rates, how do you retire?  We have no pensions, figure soc. security is many yrs. off.  We live in a relatively high-cost area, so even $2 million at 3% return would not cover the cost of living.  Ken, this would make a good article topic.

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Comment #6 by Apache posted on
Apache
Pam:  If you really believe you can't cover your cost of living with even $2 million with these low rates, I would suggest you really consider lowering your costs even if it means moving after you retire .  No one seems to be concerned by another serious problem.  Whatever we save "may" have to also cover supporting our adult child or children if they lose their jobs.  I always think of the worse scenario when figuring what I need to survive "and" still be able to care for my child when she has financial problems.  One can't just sit on their savings and watch their kids drown in this "no work" economy.  I never thought years ago at our age, we would be "penny pinching" and looking for bargains again.  So you need to try to bring down your "costs" now so you can survive during retirement.  Best of luck!

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Comment #7 by Anonymous posted on
Anonymous
2 million dollars in savings at retirement age?  Far more Millions of people can only dream of being in that financial situation when they retire. 

4
Comment #8 by Apache posted on
Apache
I did not understand the post that she "had" two million dollars.  It was just a figure she came up with.  I think my favorite "Susie Ormond" would tell her she has been "denied" for that great life she wants unless she does some fancy footwork on her finances and her style of living.  She may never reach a "two million" goal but if she redoes her life and way of living "now" she has a good chance of at least getting the "one million".  If she has a partner, they can both work and start sticking every "extra dollar" they have in the longer term CDs, imo.  That way if and when rates ever go up, she will at least have a good chunk of money to store away at the higher rates.  It takes great self-discipline and cooperation from one's partner and family but it can be done.  "Keeping up with the Jones" is not a part of this equation but paying cash for everything you buy or making sure you always pay off your credit card each month and don't charge anything you can't pay off monthly.  Self discipline is the core of financial planning, imo. 

5
Comment #9 by Pam (anonymous) posted on
Pam
Anyone who interpreted my post to meant that we had $2 million in retirement money now, no, that is not correct. I just said that even if a single or couple reaches that goal, it may niot be enough if the safe investments pay 2% or 3%.

And Apache #6:  we and all our friends and rleatives in this area have ALREADY brought down our costs, we are not spenders, we live very modestly but in a HIGH COST state and a HIGH COST area of the country.  IF we had that $2 million now, even at 3%, would equal $60,000.  SORRRRY............not enough to live around here.  Figure two paid-off cars, car insurance, heat and electric, water, GROCERIES, health insurance, etc.  $60,000 PRE-TAX is not much these days honey for an active couple in a metro area.  We are not thinking of moving to the country because we both have lots of family, including parents, around here.  We are very self-disciplined, do not "keep up with the Joneses," etc.   Point I'm making is that these lousy interest rates will make it very hard for people to retire, even with multiple millions in cash.

You do make a good point about wanting to help people when we retire. WE DO -- we want to be able to help our adult children, grandchildren and our parents, who are now in their upper 70s.   Plus, we like to help worthy charities.  $2 million times 3% (if you can get it) - $60,000 pre-tax will not do it.   BIG PROBLEM in our country, for yes, what about the folks who retire with 1/2 or 1/4 of that?????????

3
Comment #10 by Apache posted on
Apache
Pam:  Your letter would make a perfect Petition to the White House.  It is basically what I am saying in all my letter but they just don't seem to care.  We are "already" early retired in our 50's and now are late in life trying to survive with over 40 years of savings and help our DD who lost her job.  We have tons of medical bills to add to our problems.  If you think we are not "very" disturbed at what has happened to our "golden years" just hope that by the time you are in your 70's things will get better.  Washington does not seem to care about those of us who "tried" to save for these years.  I keep writing.  They keep ignoring me.  It will just make it harder for those of you who are younger to even save what you need.  Best of luck!

2
Comment #11 by Pam (anonymous) posted on
Pam
Apache-

best of luck to you also. I am sorry to read about your medical bills.  That is another problem in this country.  In the area in which we live, a routine trip to the dentist, for example, NO CAVITIES, costs $175. And let's not even talk about prescriptions.  This country has tilted toward helping the borrowers, not the responsible savers.  We have a neighbor, good friends, who got in trouble with their credit cards -- to the tune of $17,000!  These are not kids, he is 56 and she is 52.  Long story short, as part of some govt . program the bank forgave most of that debt.  Our family did without, theirs did with.  they got bailed out but still get to enjoy the big-screen TV, etc.  Something is drastically wrong, IMHO.  Happy New Year to you, I hope things improve for you and yours in 2012.

love,

Pam Reade

 

 

 

1
Comment #12 by Anonymous posted on
Anonymous
THE FEDERAL RESERVE HAS DESTROYED THE INTINCOME OF ALL THE GOOD PEOPLE WHO SAVED AND DID THE RIGHT THING> ALL THE FED CARES ABT IS THE DEADBEATS WHO SAVED NOTHING AND KEEP COMPLAING SHUCH AS SOME OF THE IDIOTS ON THIS SITE> IN MOST CASES YOU HAVE NO MONEY BECAUSE YOU TOOK THE EASY WAY OUT NO HARD WORK< NO SAVING < NO TIME OR EFFORT FOR SCHOOL THE FED REWARDS YOU LOSERS

3
Comment #13 by Apache posted on
Apache
Anonymous #12:  Your first sentence says it all!  However, not all people who need the government's help are deadbeats, imo.  Some of these are people who got fired too early in life, can't get unemployment (that's another con-game) and may not have elderly parents to depend upon in their bad times.  Our country is now showing these young people that their parents are being treated like fools for trying to deny themselves things to be able to save.  It's not that the Feds are rewarding the losers but that they are punishing the elderly for "trying" to do what was right.  I spend many sleepless nights now worrying about what is going to happen to us if I can't get close to 3% on the CDs I spent almost 50 years trying to save!    Life is NOT fair but we either strive onward no matter what or we give up and leave it.  What kind of a world are we leaving to our children?

Pam:  Thanks for your good wishes for me and my family in 2012.  You are still young (in your very early 50's) and I do hope your generation will have the initiative and courage to pound away at Washington to help turn this country around.  I wish only the best for you and yours and everyone in this forum just trying to survive financially.  And special good wishes for our Ken who has given us this forum to find help.

Happy New Year to all! 

3
Comment #14 by Pablo Savin (anonymous) posted on
Pablo Savin
Great posts. Now before the negative comments start, just adding my situation. We have managed to save over 3.5 million. I am late 40's , wife early 50's. Will not have to support adult children or elderly parents. Started with nothing, worked hard. One kid, double income, cheap house. 95% of our money is in cd's laddered out ten years. Right now average is 4.5%. Depending on future rates, this will either go up or down. If we retired now may run out of money. If rates stay the same or go up we are good. The health insurance is the big question. My financial "want to be " advisors don't have any answer except we are to conservative. What ever. Anyways if you calculate a 3% return we can draw about $150k a year for 50 years. then we would be broke, but probably dead anyways. How the heck are people going to retire with less than a million at 3% really.?

Happy holidays Ken, would not be were we are at without your site.

3
Comment #15 by Anonymous posted on
Anonymous
I'm 34 with over $2.5 Mil.  I stopped laddering when rates got below 3% given the threat of inflation.  Gov't bonds can pay more, and have preferential tax treatment, but I don't want to own them for 20 or 30 years (or buy on secondary market, and especially don't want to deal with bond funds that will go down in value once interest rates go up).  I could dump it all into an annuity, where from next year berkshire hathaway would pay me $95K for the rest of my life (or $130K for Pablo's 3.5 mil case listed above).  My current long term investment is a dividend stock ETF, where limit orders are used to buy on market drops.  It's already up over 10%, plus pays just over 3% a year in dividends (both taxed preferentially, at least until next year).  Even if the market goes down I shouldn't have to care as long as the dividend yield holds.

2
Comment #16 by Apache posted on
Apache
Pablo:  PLEASE tell me your post is a joke!!   3.5 million and in your late 40's!!  What sin did I ever commit??  Must be some kind of evil "karma" for some bad deed I did in another life!  Oh well, enjoy your millions and if you ever see me in the streets begging for pennies, please drop in one of your millions.  I am really a very nice person and deserve to be rich!  Thanks anyway and I am really happy for you and even more happy for your wife.  She must have been a "saint" in another life.  Happy holidays!

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Comment #17 by Pablo Savin (anonymous) posted on
Pablo Savin
Apache. No, not a joke post. My wife has worked for the big orange box store for ever. Their stock did rather well and that helped. I hope you never have to live on the streets. My wife is a saint, and rather frugal. We have always lived rather cheap. Happy holidays.

2
Comment #18 by Ed (anonymous) posted on
Ed
I get the sense that there is an undercurrent of hostility and/or resentment on this site for any people or couples who have multimillion dollar net worths.  As long as it was not obtained illegally, why is that the case?  Isn't this a capitalist society -- isn't it admirable to work hard, to be frugal, to be enterprising, to accumulate wealth in an honest way?  My wife and I are both 52, have a net worth of $2.2 million.  At 2.5%, we are in BIG trouble if we ever want to retire.  Do the math.  I don't expect sympathy, but on the other hand, we do feel really ****ed because 10 or 20 years ago, we would be really set because we could get 6% or 7% in a safe investment/account and retire.  Now we can't even think about it.  We worked our #@#&!'s off for many years and sacrificed to have our present resources and shouldn't have to apologize for it.  I understand that there are people who reach retirement age with net worths far less, maybe $500,000 or less.  I honestly don't know what they do.

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Comment #19 by Apache posted on
Apache
Ed:  I hope you don't take my post to mean hostility.  I have nothing but admiration for those who have been able to amass such sums of money.  The secret is being dedicated to one's goal and being "frugal" is the secret weapon, imo.  The hostility I am reading seems to be aimed at what has been allowed to happen in our country where we have to struggle to find 2 -3 % CDs instead of the 5 -6% ones we used to get. 

Reading all these posts about how upset others like myself are with what has happened gave me an idea. Are you aware that the White House has a special webpage for "Petitions" so citizens can inform Obama what they are most concerned about.  I am involved with a campaign on another site for medical research but how I would love to see Ken allow us to put up a Petition from the people on this forum concerning what has happened to the interest rates and our savings.   We just need one letter to go up as a Petition and if enough of you will just sign it, Obama can't ignore it.  We have so many people on here with the same concern that I feel we would get the signatures needed to bring this concern directly to him.  "It won't do any good" is the usual mantra but how will we know if we don't try!

Do we just sit back and take this or do we fight back and let them see all the votes they will lose if they don't try to help us?   It's just something I wanted to share.  I have been sending my letters by myself but all they see is a couple of lost votes with them.  Thousands of signatures mean thousands of lost votes!!   I do hope you will consider this.  If not, I fight alone.   Thanks anyway.

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Comment #20 by 51hh posted on
51hh
Thanks for all the "we have accumulated $3M or $4M... and we are doomed" posts.  Nice way to start the new year:D

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Comment #21 by Apache posted on
Apache
BTW, if anyone wants to see some of the other White House Petitions:

https://wwws.whitehouse.gov/petitions#!/petitions

you can go here or just go to whitehouse.gov.

BTW, I don't think we have to be "doomed" that is why I am trying to do something to make a better place for my daughter.  Doing nothing is not a choice for me.  Do something and make it a "Happy New Year!"

1
Comment #22 by Anonymous posted on
Anonymous
I don't believe there is much hostility or resentment about other people have millions to retire with.  Maybe a little envy.  But what really is annoying is reading about people who are fortunate to have accumulated millions and still belly aching, "Oh Me, Oh My, what am I ever going to live on when I retire!"  You just have to learn to live within your means like the less fortunate have learned to do.  Adjust accordingly.

Happy New Year to everyone!

3
Comment #23 by William (anonymous) posted on
William
Someone with 3.5 mil, and still living frugually, no adult children or parents to support, or worry about, and feeling insecure and posting about it?  Unreal!  What a sad situation and I don't envy them one whit but actually feel sorry for their outlook on life and all.....something ****ey going on here. Really hope they can get a life.

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Comment #24 by Anonymous posted on
Anonymous
ANOTHER COMMENT FROM #12 OUR CHIDREN ARE MAKING THEIR OWN LIVES INCLUDING MINE> THEY HAVE GOOD JOBS WITH ALL THGE FREE BENEFITS OF THE FED AND CONGRESS THAT SAVERS PAY FOR>THEY DONT SAVE ONYL SPEND AND THEN CRY TO THE GOVT I SEE IT ALL AROUND US >I JUST CAME BACK FROM DISNEY <EVERY KID ON PLANE HAD A I PAD PLUS BOT $ WORTH OF JUNK ON PLANE< THEY GO  VAC A YEAR PLUS OUT TO EAT  TIMES A WEEK DONT SAVE A DIME> WE SENIOR SAVORS LEFT THEM A GOOD WORLD <THEY ARE DESTROYING IT< THEY ARE ALL OUT OF CONTROL LIVE FOR TODAY FORGET TMW>KIDS COME HOME FROM SCHOOL NO BOOKS AND ON THE CELL PHONE ALL THE TIME LATER LIFE BROKE WANT GOVT TO BAIL THEM THEY AND THEIR PARENTS ARE DESTROYING THEMSELVES AND TAKING THE SAVERS WITH THEM

5
Comment #25 by Anonymous posted on
Anonymous
# 12 AGAIN LOOK ON FACE BOOK INSTRAD OF HOMEWORK THEY TALK NONSENCE < I ASK THEM WHAT IS % OF SOMETHING AND THEY HAVE NO CLUE>I ASK A FOREIGN WHAT IS 110% of 10000 they ans immed 11000,try it on your own kids, our country is failing because of todays parents THIS HAS CAUSED THE FED TO SUPPORT THEIR BAD HABITS AND KILL THE GOOD PEOPLE>IT IS 3 plus yrs of no saving int but payroll tax credits, child care credit, free medical etc to those can work but dont want to , three yrs unemployment LET STOP THE BULL**** ITS THE ECONOMY < ITS THE PARENTS OF TODAY NOT SAVING < NOT DOING THEIR JOB< THE US IS NOT COMPETITIVE SO OUR ECONOMY IS LOUSY<YOUNG AMERICANS WAKE UP BEFORE IT IS TO LATE< CONGRESS DONT SOLVE THE PROBLEM ONTHE BACK OF THE SAVORS

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Comment #26 by Jeanne (anonymous) posted on
Jeanne
I can't understand why my tax dollars are going toward bailing people out of their excessive mortgages and credit card debt.  And why my bank interest rates have been SLASHED TO ALMOST NOTHING so that people can get a good interest rate on their car loan, home loan, etc.  Irony is, NO ONE'S BORROWING ANYWAY, there's little demand for cars, houses right now because the economy/jobs is so weak.  I really hope that the voters put some new people in Washington DC in Nov. 2012.  I'm an Independent as far as voting, no political party, but I am disgusted with what has been going on.

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Comment #27 by Anonymous posted on
Anonymous
# 12 again LOOK AT TODAYS NEWS GM RECALLS NEW SONIC CAR MODEL FORGOT TO INSTILL BRAKE PAD WHY ALL THE WORKERS WERE TEXTING ON THE CELL PHONE<GREAT JOB PARENTS NO PROBLEM YOU WILL ALL GET 3 YRS FREE UNEMPLOYMENT CHECKS RISE UP SAVERS GET RID OF BERNANKE <HE IS AS GOOD AS THE GM WORKER ALSO OBAMA WE ONYL HAVE ONE WAR NOW <GIVE THE SAVINGS TO MANY DEAD BEAT AMERICANS PAY OFF THEIR PAST DUE CREDIT CARDS <AND CONTINUE TO STARVE THE SAVERS<AND TO THINK I FOUGHT FOR THIS COUNTRY

1
Comment #28 by Apache posted on
Apache
Good Morning ALL!  I see we are still angry at the "deadbeats".  We will always have certain deadbeats with us but that doesn't mean ALL our kids are deadbeats.  If I told you the true story of my adult kid you would be in tears on this New Years Eve.  I know we are angry at our government and what has happened to our country but spew it at Obama and Bernanke and those who "allowed" this country to end up like it is.  Don't take it out on your fellow citizen who is trying to survive inspite of the mess we are in.  Take your anger where it belongs.  TO THE WHITE HOUSE!  If you are not willing to fight for what you think you lost then just sit back and let sick elderly people like myself do your fighting for you.  But MY ADULT KID is NOT a DEADBEAT!  WE help support her because she has a chronic disease and after years of working her butt off she was fired!  It's not just Washington who is to blame for our crisis but these big companies who USE people and throw them out like dogs when they are finished with them. It's a joke telling people they can work until 65 or 70.  Where?  Is Walmart's still hiring?

Sorry for my rant but I got tired of crying a long time ago and decided to put my anger and tears to good use.  I am grateful to Ken for giving us this forum where I can find help looking for the CDs I need and I am grateful to all you good people who have struggled to save for your future.  However, I am not grateful for the predicament we are in with these low interest rates.  It doesn't matter whether one has half a million or millions of dollars.  What matters is what has happened to our country that our economy has crashed so badly many think themselves grateful for locking in 2.55% for TEN years!

Just remember, we, on this forum are NOT the enemy.  We are all fighting the same battle.

Happy New Year 2012 and higher interest rates to ALL!

 

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Comment #29 by Anonymous posted on
Anonymous
My CD investment made in 2011 was 3.2% APY for 7 years at Navy Fed on 6/14/2011.

I have another CD at Navy Fed from 9/2/10 for 3.66% APY for 7 years.  So I would say my biggest change has been to invest in longer-term maturity CDs to obtain a higher interest rate.

I invest for my disabled 86 y/o mother.  One of the challenges is trying to decide how much principle she will need for medical expenses, or if the interest will cover it. 

 

 

 

 

 

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Comment #30 by Anonymous posted on
Anonymous
Just an FYI for those who have estates worth more than $1 million.  Did you know that on January 1, 2013, just 12 months from now, the estate tax exemption is scheduled to revert to $1 million, with assets in excess taxed at 55%?  Married couples can leave unlimited amounts to each other with no tax, but then the surviving spouse is left to make the choices. 

2
Comment #31 by Apache posted on
Apache
#30  Oh crap!  I did not keep up with the latest on that!  Maybe we can get it overturned when the new cattle take over from Obama.  Isn't there ANY GOOD news we can find out about?  What a way to enter the New Year.  Thanks for sharing.  I guess we all need to buy giant pillows for any extra money we may have. 

2
Comment #32 by Anonymous posted on
Anonymous
The fact is the majority of people will never have 1 million dollars of accumulated wealth at retiremaent and it is insulting to the majority to whine about how impossible it will be to survive on 1 or 2 million dollars because you may only earn 3% on your cd investments. Here is a dose of reality! Most americans don't have 2 weeks of cash expenses in savings. The people tht I respect the most on this and other similar sites are the ones that are building their wealth from well below 500k by finding the 1/2 to 1 % above the norm.

4
Comment #33 by Anonymous posted on
Anonymous
#32  - Right on. And actually, the 3% multi million dollar complainers here are simply self-serving braggers with very little respect for the rest of us.

3
Comment #34 by Loren (anonymous) posted on
Loren
#32 and #33 are way off base.  My aunt and uncle worked themselves up from nothing for 43 years in a business, no one gave them ANYTHING, they sacrificed and did without, WORKED EVERY WEEKEND, and probably have $2.5 million today in liquid assets at age 68.  #32 and #33 would tell them to 'shut up' and stop complaining about only getting maybe $50-$60,000 in income from CD's on that $2.5 million.  Let me tell you something:  that's just envy and resentment.  If you worked that hard, amassed that amount, and can only generate $50,000-$60,000 because rates are so bad, you have the right to complain.  That interest should be more like $100,000-$125,000 a year.  This all goes back to envying those with money, those who aren't lazy and with their hands out.  That's why we need some good Republicans in office -- they don't **** the successful to help the losers.

2
Comment #35 by Pablo Savin (anonymous) posted on
Pablo Savin
Loren, we are the same way. Work weekends, nights, etc. Have. Followed sports at all. I ask employees if they would like to work weekends every once in a while and usually get: the " the big game is on, no can do". Then next week complaining about bills. Can't be on both sides of the fence. I was not born wealthy, no silver spoon there. Good luck to the youth with the crazy rates. Here's a tip, save the money now, forget about the return, when rates go up you will have the cash to count

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Comment #36 by Apache posted on
Apache
Loren:  Your post made good sense to me until I got to the last part "that's why we need some good Republicans in Office".  PLEASE study what the Republican party is all about before you brag about them.  THEY are for the RICH people.  They care nothing about the struggles of the middle class.  I know Obama has ****ed up our economy royally and will not vote for him again.  But when I ask my Republican officials what can they offer us that is better........I get no replies!  I watched all their debates and made up my mine already.  Don't want to make this a political bashing but since you gave your opinion and opened up the subject, I feel I have a right to give mine.  As for the rest of your comments, I agree.

1
Comment #37 by Anonymous posted on
Anonymous
Loren, sounds like your suckin up to get in your aunt and uncles will. That is hard work!

2
Comment #38 by Anonymous posted on
Anonymous
For you people with ONLY two to three million to retire on, don't worry about the estate tax reverting back to one million.  You stated it wasn't enough to make it last through your retirement years in the extremely low interest rate climate.  So there will be nothing left of your estate to be taxed anyway.  Enjoy it while it lasts.

4
Comment #39 by Anonymous posted on
Anonymous
I agree 99.99% with Loren #34.  Apache, I will take a big leap here and guess you are a retiree living in a sunbelt state (?).  I HAVE studied about the Republican party, and the Democrats, and altho an Independent I can't support the Democrats and would go with the Republicans these days.  Here's a "study":  Remember Al Gore?  His "middle class tax cut," if you looked into it, was for those earning $50,000-$55,000/yr. or less.  If you earned more -- ****ED!  That's the Democrats these days.On a LOCAL level, I have no opinions on Reps. vs. Dems.  But nationally, anyone who works hard, earns, saves, has an estate -- you will be better off with the Republicans. Apache--think and research on your own and don't "Drink the Kool-Aid" based on where you are living and those around you.

2
Comment #40 by Tracy H. (anonymous) posted on
Tracy H.
The Republicans are for the "Rich" people if you think "Rich" is earning over $30K  year and paying taxes.  They may have been for the rich 50 to 75 years ago, but not these days.  I'm a Poli Sci major at Cal Tech -- VERRRY liberal upbringing in Oregon.  My parents supported McGovern, get my drift?  Based on current events, they've been unofficial Republicans for 20 yrs. now.

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Comment #41 by Apache posted on
Apache
People:  I am NOT espounding the greats of the Demos.  I sent them as many stinky letters as I do the Repubs.  I "wanted" very badly to believe in the Repubs because I have a relative who holds a position with them and is "gungho" for his party.  But after what I saw they are trying to give us to replace Obama and how they believe on certain issues, I made up my mine to go "independent".  Neither party is worth voting for, imo.  I just want a good intelligent ,  "moderate" person as my new President and one who isn't afraid to take the reins and LEAD! 

Tracy:  I get your drift but I think your parents are unofficial Republicans because they have no other choice.  If you can't digest the Dems and there is no better Independent to go with then too many people will vote Republican as the only one left.  I can't take that stand.  I will not vote for a party because the others are just as messed up.  I don't have to be a Poli Sci major to know how to research politicians and digest their undigestible nothingness. 

If your parents have felt forced to accept the Repubs for 20 years now , don't you think it is time for them to make this marriage "official"?  Best of luck to our country if people don't see through all this political jargon soon and they give us a real leader to help our country.  I may end up voting for "Wiggletail"!

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Comment #42 by Anonymous posted on
Anonymous
As usual, more false information from the right wing! If you have no need for social security, medicare and any other programs for the old. If you think the top 1% should pay less taxes than the middle class. If you truly believe for the first time in history that the top 1 % are the true job creators (Never have been). If you think that exporting all of our manufacturing over the last 40 years to improve the corporate bottom line was a good move. If you think the Bush tax cuts were fair, than you have the mind set of a repulican/teabagger

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Comment #43 by Anonymous posted on
Anonymous
At least Apache is not for Obama.  Many still are. believe it or not.

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Comment #44 by Helene (anonymous) posted on
Helene
Thing is, in Nov. 2012 we will probably have a choice only between a Democrat or Republican for office.  There's no Perot or other 3rd party candidate that looks like they will emerge.  I am 77 y.o., an FDR Democrat with a capital "D" and I will be voting Republican.  Sorry to say.  Not to do so will give us 4 more years of the same, i.e., Obama, Hillary, Geitner, Bernanke, etc.  Let's all face facts.....That's the truth.  Let's all face up to that.  All the letter-writing in the world will not change that.  It may be a bitter pill, but we need some change in this country. The Democrats will not help this country in 2012-2016 if they are re-elected.

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Comment #45 by Apache posted on
Apache
Helene:  I think you are unfortunately right about what will happen in the election.  Since the Democrats can only offer us Obama, most people will just "bite the bullet", imo and vote Republican.  My conscience won't let me do either so I have no idea what I will end up doing in this election.  However, I think most people will do what you wrote, just out of frustration.  What a sad day for our country!

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Comment #46 by Anonymous posted on
Anonymous
The topic was:

CD Rate History Review and CD Strategies for 2012 Now it has completely degenerated to political bantering.  Well at least it provided entertainment and laughs for the afternoon.  Face it, our country is long past its prime.  It's all down hill from here.  Democrats or Republicans, doesn't really matter anymore.  There should always be an option on the ballot:  NONE OF THE ABOVE!

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Comment #47 by Anonymous posted on
Anonymous
Re: #46:  You are right about this getting "Off Topic."  Now, all we need is some asinine posting from "Lou" showing that he understands squat.  Just my opinion.

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Comment #49 by Anonymous posted on
Anonymous
So is the Apache Doctrine  - NO to Obama, NO to the Republicans as an alternative, YES to covering your head in sand while flooding the beltway with letters, emails and notes? Be sure to let us know how it works out for you. 

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Comment #50 by Artie (anonymous) posted on
Artie
All I know is, under Bush, my community didn't have 10% of its breadwinners out of work, tons of empty stores, houses foreclosed, seniors getting 1.5% on their life savings.  We have had most of that for 3 yrs. now.  No end in sight. I am 62, and besides looking at crappy returns on my savings, my main asset (house) is down 30% in value.  Plus, oil is close to $100/barrel so I can barely afford to heat my home this winter, hardly drive on acct. of $3.50/gal. gas.  None of this was the case 3 years ago.  I'm just lucky that I am working, because i cannot retire and many not be able to until I'm 72 or 74.  There's no way in the world that I will vote for Democrats in 2012.  And I'm registered Democrat.  That is a no-brainer.

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Comment #51 by Apache posted on
Apache
Anony 49:  I have done many things in my life but being an "Ostrich" has never been part of my persona. I cannot stand SAND so you would never see me covered with it.  I would prefer to be an "activist" and DO something about the things I know are wrong with my country than to just SETTLE for something I cannot condone in good conscience.  Since you seem to have no problem with that, then go ahead and vote your Republicans in and then I can come on here and post in big caps "I TOLD YOU SO!!!"   All you have to do is really listen to what their so called "candidates" were saying on all the debates and you would know they are not going to be able to pull us out of this catastrophe. 

BTW, instead of criticizing me for at least trying to do something about our mess, why don't YOU voice your opinions some place besides this forum?   I also do have another opportunity with my vote.  I can do a "write-in" candidate or just vote independent.  I will not be forced to vote for a party I do not want in office just because we supposedly have only two parties. 

Artie:  Please realize that "Bush" did not have to follow "Obama" into office.  If he had, I think you would not be able to post as you did.  For all of you who are voting Republican just because you can't abide another Democrat after Obama, you are throwing your vote away if all that party can give us to select from is the group from the debates.  

Now I hope we can get back to the real reason for this thread.  Trying to survive financially!  Have a good evening folks!

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Comment #52 by Anonymous posted on
Anonymous
#51 - If you want to get back to the real reason for the thread, then maybe  step off your political  soap box and tell us something worthwhile?....and a good night to you too! 

 

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Comment #53 by Apache posted on
Apache
Anony #52:  I'll tell you something worthwhile.  Your name says it all.  Have you heard the old joke about the guy/gal who starts a fight and then runs and hide while he/she blames someone else for doing it?  "I" didn't start the political input, I just joined into it.  Why don't you snap at the others who joined in or is my name just a target for you?  GOOD MORNING TO YOU TOO!

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Comment #54 by Anonymous posted on
Anonymous
Hey #53, just relax, take your own suggestion to heart and try your best to post some constructive 'financial' info. Although your thin skin is still showing big time, it looks like you have at least began to minimize your off-topic political rants. Congrats! Now, the last word is yours.

 

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Comment #55 by Apache posted on
Apache
Anony 54:  I have a "word" but if I post it I will probably be banned from this forum so I'll let you visualize it for yourself.  BTW, if I were truly "thin skinned" I would never be in these forums.  Happy 2012 to all!

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Comment #56 by Anonymous posted on
Anonymous

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Comment #57 by TLaBar (anonymous) posted on
TLaBar
I thought this was a financial information blog.  After reading, never mind.  I do see why people stopped posting, lost site of the issue just like the country.

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