If you want to make sure that you have secured your future as much as you can, you will want to find someone who can give you intelligent, unbiased personal financial advice. There are many people around who claim they are financial advisors but you want to be careful who you hire. You have to not only be able to trust them but you also want to be able to like them so you can work closely with them.

When you first start your search you should probably ask for a recommendation right at your local bank or credit union. More than likely they can give you a referral. One word of warning though, they will likely have many of their own products that they will try to sell to you. That may not be bad but in order to make an informed decision make sure you ask a lot of questions and don’t buy any product or service, unless you’re sure it’s a perfect fit for what you are trying to accomplish financially.

Asking friends, family, and co-workers is another way you can get a referral to a good financial advisor. You may be surprised at how many people you know actually enlist the aid of an advisor. Many people mistakenly believe that only the rich have advisors. A good advisor will be able to help you protect the assets you already have as well as find ways you can potentially grow those assets.

Once you’ve got a few recommendations go around to them and start ‘interviewing’ them. Again, it’s your money you have the right to ask a lot of questions of whoever you’re considering asking to manage your money. Make sure you check the credentials of any advisors you are considering hiring.

Also find out if they are ‘tied’ or independent. A tied agent is one who can only sell the products and services of one company. They can still help you but it’s important that you know that they do have limitations of which products they can sell to you. That way you can make sure that the product they are selling you is the best product to help you achieve your goals and not just the best product their company has for achieving your goals. There is a big difference.

An independent agent may sound like a better choice, but it can have it’s landmines too. For example, even though an independent agent can sell products from many companies they will often push a product from the company that offers them the highest commission, not necessarily the best product for you and your needs.

Knowledge is power, so now that you know what the potential issue can be for both a tied and independent agent you can ask questions and avoid them.

If you want to make sure you protect your future, hiring someone who can provide you with top notch personal financial advice can really help. There are many elements to your money. Everything from insurance to estate planning. Make the most of your money by finding a professional to help you navigate all the resources available to you.

Certificate of Deposit accounts are a an extremely safe situation for you to deposit your money. Educating yourself about CDs is a benefit to you if you want to keep your money safe and sound.

On one hand there are a couple of facts that you need to know about a CD from the onset. One is; they force you to leave your funds in the bank for a particular amount of time. In addition, they commonly have a higher interest rate than savings accounts.

Most banks want all of your money deposited with them. If they are not offering a good rate after you’ve shopped around, speak with an area manager. Sometimes to keep your money with them, they will make an exception. If not, move your money.

As you are about to open your CD Account, you will be given an option: length of time you want to ‘tie’ up your money. Remember, you are agreeing to leave your money in the CD for a certain period. This can be anywhere from 7 days to 7 years or more.

The rationale banks use; if you assign them your money to have and you assure not take it out before the end of the term, they can take that money and invest it. This makes them a bundle of money. So, they are willing to pay you a high interest so that you will choose to leave your money with them for a long time.

An addition to leaving your money for a certain term, there will also be a minimum amount to open your CD. Unlike a savings account, you can not add to it. You can expect some minimum amounts to open an account like this can be as much as $1,000.

An additional fact to find out is how your bank pays interest. Is is simple or compounded? Compounded means you are getting interest on interest plus principle. How often does your bank pay. Monthly, quarterly?

Many banks will offer you the opportunity of having the interest deposited into another account, such as your checking, but if you are trying to make and save money this isn’t recommended. If you let the interest accumulate, you can wind up with a substantial amount after the term is up.

Also, keep in mind if you withdraw your interest along the way, you now have a different interest rate. If you leave it, it is annual percentage yield. If you keep withdrawing interest, this will affect the Annual Percentage Yield for the CD. Talk to your banker or accountant about this.

Once the agreed upon time frame is up, the money plus interest (if you did not take it out) is now yours to do whatever you want with. However, there is a ‘grace’ period after maturity, usually 7 days. So after the CD matures you have a certain amount of time to go to the bank and get your money. If you don’t, the CD will renew itself. If you try to get it after it renews itself after the ‘grace’ period, you will be penalized.

CD (Certificate of Deposit Accounts)

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Ric Dalberri is a graduate of Columbia State University & has been involved in his own business (sold) employing over 100 people. Ric was also a top producer as a Financial Specialist for over a decade with one of the largest financial institutions in the U.S.
Ric is the founder of Retirement USA which provides complete solutions for your lifestyle. Please visit and sign up for the free newsletter.