Submitted by itsthebestlife t3_127zmmm in personalfinance
itsthebestlife OP t1_jegr1gv wrote
Reply to comment by homeboi808 in Need advice on putting money into a CD, don’t know where to start by itsthebestlife
No I don’t! I don’t even know where to start, this is mt first time even looking this. My cpa just told me about CDs. I’ll do this!
homeboi808 t1_jegrk8v wrote
I use Fidelity, but others are just as good.
itsthebestlife OP t1_jegt1br wrote
Thanks so much!
homeboi808 t1_jegt2jo wrote
One thing to add:
With CDs the taxes on earnings are on your income tax bracket, unless bought in a retirement account like an IRA.
With stocks/funds, if you own it for more than 1 year then when you sell the taxes on earning are lower (15% for people in the ~$40k-$400k income range). Selling them in under 1yr has earnings taxed on income tax bracket just like CDs.
itsthebestlife OP t1_jegt6pr wrote
Thank you so much.
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