The key is to use the right tool for the right job, otherwise you’re vulnerable to heartache. Certificates of deposit (CDs), which are time deposit accounts that hold your money for a specific ...

you could open a new 2-year CD with that chunk of your savings (assuming you don’t need to use the money for another purpose). Opening a new CD would continue the cycle — permitting you access ...

The CD laddering strategy balances higher yields with liquidity. By dividing your money and putting it into CDs with ...

Then, in 2030, you'll have the returns of all three CDs to use to your advantage. "This helps you stay disciplined when trying to achieve a specific goal by a specific date," Roske says.

Instead of depositing all of your cash in one CD account, you'd spread your funds across several accounts with different term lengths. For example, if you have $5,000 you'd like to grow toward a ...