You could consider multi year guaranteed annuities (MYGAs). These products are sometimes called “CD annuities”, because they pay guaranteed interest for a fixed period of time. Currently, you can get higher than 5% for terms of 3-7 years from well rated insurance companies. MYGAs generally pay higher interest rates than CDs of the same duration.
Many insurers allow you to withdraw interest monthly.
MYGAs carry heavy penalties for withdrawals beyond certain limits before the interest guarantee period is over. So you should only use MYGAs for money that you’re highly confident that you can tie up for the interest guarantee period.
My favorite site for learning about MYGAs and viewing a large number of products is Blueprint Income, which calls them “fixed annuities”. Here’s a link. https://www.blueprintincome.com/resourc ... -annuities
Post back with questions.
Many insurers allow you to withdraw interest monthly.
MYGAs carry heavy penalties for withdrawals beyond certain limits before the interest guarantee period is over. So you should only use MYGAs for money that you’re highly confident that you can tie up for the interest guarantee period.
My favorite site for learning about MYGAs and viewing a large number of products is Blueprint Income, which calls them “fixed annuities”. Here’s a link. https://www.blueprintincome.com/resourc ... -annuities
Post back with questions.
Statistics: Posted by Stinky — Thu Jul 25, 2024 8:05 am — Replies 4 — Views 237