Recently a woman online told me that its possible for me to lose money in bank cd's is this true? Because I plan on putting alot of my money into a cd and just live off the interest.

No, your principal is safe as long as it is insured up to whatever amount is stated by the institution through which you deal, around $100,000. The FDIC insures the principal back and the interest payments. However, they don't keep pace with inflation and tax increases as the interest rates are very low.

Please correct me if I'm wrong, my Macroeconomics 102 isn't exactly up to snuff

Good luck, not that you need it if you have enough money to live off the interest of a CD

P.S. - Probably best you ask the bank or whatever institution you're dealing with also.

Current CD rates are pretty awful. It may or may not keep up with inflation depending upon the rate of inflation. But your money is safe with CDs. You are better off with an I-bond in my opinion.

Well, you can't lose money, but it can feel like you have. It's called inflation. And it's everywhere.

The only way you could really lose money is if you withdraw it early because there are penalties for doing that. Other than that though it's one of the safest (though low yieding) investments you could make.

no but it's not really worth it

generally no !
Hope you luck

i did

Investing in CD's is a safe and secure option. If you looking to strike it rich and get 20-30%+ returns are year your in the wrong league.

However a lot of people who work their whole lives and save 30+ years and are left with a massive amount, its only natural for those people to settle with a 5-6% ROI.

If you have that sort of money to live off the actual interest from the COD. I would suggest looking into a managed fund. Which is what you and a professional both have control over. The financial advisor would take you through safe/secure options for you capital and im sure you will get a higher ROI with little or no more risk involved.

RD

CD's may have low returns but they are the safest from of instrument around.

This bank cd safe but be careful...Good luck.