The financial strategy of creating a CD ladder may promote liquidity in your portfolio.
your savings in CDs with varying maturities and interest rates. This approach may provide the opportunity to take advantage of higher rates on longer-term CDs while maintaining a portion of your funds in shorter-term CDs that will be more readily available, said Matthew King, a wealth planner for Wilmington Trust.
"Often, the penalty may entail a fixed fee to break the CD contract as well as a penalty based on a number of days of interest calculated at the current rate on the CD," King said. "These penalties can vary based on the term remaining until the stated maturity of the CD."By creating a CD ladder, you are investing your CDs to mature at different dates.
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