Can I lose money in bank cd's? - MoneyMakerGroup Forum

ADVERTISE ON MMG. Contact Us Via E-mail at: MMGAdvertising@gmail.com - AIM at: MMGAdvertising - Yahoo Messenger at: MMGAdvertising@ymail.com - MSN Messenger at: MMGAdvertising@live.com - ICQ at: 441470611

MoneyMakerGroup Forum » MoneyMaking: Markets, Real Estate, Banking, and Investments » Personal Finance » Banking, Savings, CD’s, Money Markets, Bonds & Retirement Planning

Info & Tools:

Current highest paying savings accounts:

Tools:

Can I lose money in bank cd's?

Options

Riley95 View Member Profile	Dec 21 2005, 01:45 PM Post #1
New MoneyMaker Group: Member Posts: 21 Joined: 21-December 05 Member No.: 15,451	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.

Paid Advertisement

sgm10 View Member Profile	Jan 7 2006, 06:52 PM Post #2
MMG Member Group: Member Posts: 596 Joined: 4-January 06 Member No.: 17,442	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.

PEEPs View Member Profile	Jan 23 2006, 09:43 PM Post #3
MMG Member Group: Member Posts: 52 Joined: 23-January 06 From: NYC Member No.: 22,622	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.

ADC Services View Member Profile	Jan 29 2006, 12:23 AM Post #4
MMG Member Group: Member Posts: 53 Joined: 28-January 06 Member No.: 25,532	Well, you can't lose money, but it can feel like you have. It's called inflation. And it's everywhere. -------------------- Turn 50¢ into $1,500!! MegaMoney2006!

bullseye View Member Profile	Jan 29 2006, 09:57 PM Post #5
MMG Member Group: Member Posts: 125 Joined: 12-January 06 Member No.: 19,244	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. -------------------- Practice investing for free and win actual Cash Prizes!

mr_p()()p View Member Profile	Feb 14 2006, 09:55 PM Post #6
MMG Member Group: Member Posts: 305 Joined: 5-March 05 Member No.: 3,491	no but it's not really worth it -------------------- Interested in a discount gas program? look here

e-stocker View Member Profile	Feb 15 2006, 12:35 AM Post #7
MMG Member Group: Banned Posts: 77 Joined: 14-February 06 Member No.: 30,727	generally no ! Hope you luck

the_exchangist View Member Profile	Feb 17 2006, 02:48 PM Post #8
MMG Member Group: Banned Posts: 40 Joined: 17-February 06 Member No.: 31,431	i did

Donzey View Member Profile	Mar 28 2008, 01:48 AM Post #9
MMG Member Group: Member Posts: 35 Joined: 6-October 05 Member No.: 10,101	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

mikego View Member Profile	Mar 29 2008, 06:53 PM Post #10
MMG Member Group: Member Posts: 822 Joined: 20-June 05 From: Philippines Member No.: 5,645	CD's may have low returns but they are the safest from of instrument around. -------------------- Turnkey Websites \| Turnkey Websites \| Poker

jeff2008 View Member Profile	Apr 8 2008, 12:08 PM Post #11
New MoneyMaker Group: Member Posts: 17 Joined: 8-April 08 Member No.: 139,941	This bank cd safe but be careful...Good luck. -------------------- Unexpected Medial Bills,Loans up tp $1000, Instant Approval Free Loan For 1st Time Customers! Up To $1000! No Credit Check! Get A Free Loan! Fast!