In my mid-seventies. Own mortgage-free home valued at about $250K.
Have about $80K in individual stocks I plan to leave for daughter. Have only about $40K in IRA. Federal government retiree. Pay off credit card each month. Live comfortably on annuity.
I have over $200K that I took out of the stock market a few months ago and want to get a few CDs or put in high-yield savings account.
I have used the same bank (USAA) for 40 years. They are super but have very low CD interest rates compared to Synchrony (which I just discovered today). Synchrony has a horrible reputation based on internet reviews but I don't plan to use them as my "regular" bank.
I don't think CDs with 5-7 year maturity are a good idea since the interest rate will surely go up in the next year or two and I don't want money tied up for that length of time.
Synchrony will pay 1.05% in high yield saving account and have best CD rates. I'm thinking that maybe $100K in their saving account and purchasing $100K in CDs. I have no plans to use this money in my lifetime.