Best Savings Vessels Right Now with Aaron Caid

Certificates of Deposit (CDs): Locked-in Rates

U.S. Savings Bonds: Safe, But Long-Term

U.S. savings bonds offer another secure savings option backed by the U.S. government. A unique benefit is that earnings are often exempt from state and local taxes, and some bonds adjust with inflation, providing a hedge against rising costs. However, bonds are a long-term commitment with maturities typically lasting 20 to 30 years. While they’re less liquid, with penalties for early withdrawal, they can be a solid option for those with a long time horizon.

Choosing the Right Option for You

So, how do you choose the right savings vehicle? There are three key factors to consider:

• Time Horizon: How long can you let the money sit before you need it?
• Liquidity Needs: Do you need immediate access to your funds?
• Risk Tolerance: Are you comfortable with the stability of your savings, or are you seeking higher returns with more risk?

Why Choose Christian Community Credit Union?

On Today’s Program, Rob Answers Listener Questions:

• I've got a couple of IRAs, a 403(b) from when I was in the ministry, and a 401(k) that I'm actively contributing to at work. I'm almost 60 and unsure when I want to retire, but it probably won't be at 67. Should I start looking for more safe investments? And how should I go about combining these different accounts?
• My husband's company offers him early retirement at 62, with a lump sum payout of over $900,000 or a monthly income of $72,000 per year for life. We're concerned about the tax implications of each option and how it would affect us if he later decides to take Social Security, even though he's planning to wait to do that.
• Someone told me I could collect on my husband's Social Security, even though I'm 68, and he's 61 and still working. My benefits are low since I was a stay-at-home mom and only had a little work experience outside the home. Is it true that I can get up to 50% of his Social Security benefits?

Resources Mentioned:

• Christian Community Credit Union
• List of Faith-Based Investment Funds
• Look At The Sparrows: A 21-Day Devotional on Financial Fear and Anxiety
• Rich Toward God: A Study on the Parable of the Rich Fool
• Find a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)
• FaithFi App