![]() ![]() However, rather than go to your local bank and open up a regular CD, I’d like to introduce you to a more effective strategy called CD laddering. However, now that the Fed seems to be returning to an environment of high-interest rates, this may be a good time to shake the dust off of them. ![]() This is because CDs have paid next to nothing since interest rates flat-lined ever since the Great Recession of 2008. ![]() If you’re a younger investor, chances are that you’ve probably never heard of a CD. In return, you’ll receive a fixed rate of interest that’s comparatively higher than the APR you’d receive from a high-yield savings account. A CD or “certificate of deposit” is simply an agreement with a financial institution to lock up your money for a certain number of months or years. While that will have some short-term negative effects on business and the stock market, the good news is that this may be a once-in-a-decade opportunity for conservative investors. Federal Reserve has been communicating that high-interest rates might be here to stay for longer than most financial experts previously believed. Thanks all.With high inflation becoming stubbornly persistent, the U.S. I will definitely give it a spin within the next few months. I may still pursue that route but time constraints prohibit me at this time. The runner up in this process is definitely GnuCash. They aren't the greatest either as they have hiccups regarding their updating process but for me, a person nearing retirement, there are several tools that will be helpful. For my portfolio, I've decided to go with Personal Capital. The downside is that they don't appear to be investment oriented regarding stocks although they have the capability. They have a youtube presence, not a large one but worthwhile videos to view. It's very inexpensive ($30) with no subscription or add on fees. It is how I would design an app if I could code. Some may see this as an odd choice but there are a few things that sealed the deal. Well, for anyone who finds themselves in my position regarding AceMoney or those who are curious as to what my investigation has resulted, the winner is: Moneyspire. There are also options that will allow you to connect it to your back account, but I didn’t want that anyways, so I import my transactions with a CSV. There are options for automatically getting stock prices, to update your portfolios. Once you have your accounts set up how you want, you should be able to easily import your current data into GnuCash. It allows you to set up your account how you want, allowing you to generate reports that meet your needs. There is a learning curve, but it is also flexible. You could also store them locally if you don’t want anything in the cloud. I store my data files in Dropbox so it’s always backed up and accessible from multiple computers. I first stumbled upon it looking for an offline option that doesn’t require bank connections. but damn, it’s fantastic and it’s free!!! It is not the prettiest software, and may require more manual entry, and will require a very basic understanding of double entry accounting (or willingness to learn), and there is no phone app. Never used AceMoney before, but if you want an offline software GnuCash is the way to go.
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