Comments on: How to Easily Open a CD Ladder at ING Direct http://financefreelancelife.com/2008/09/02/how-to-easily-open-a-cd-ladder-at-ing-direct/ Fri, 19 Mar 2010 13:56:41 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Toni Chasmar http://financefreelancelife.com/2008/09/02/how-to-easily-open-a-cd-ladder-at-ing-direct/#comment-62454 Toni Chasmar Fri, 04 Dec 2009 02:12:59 +0000 http://financefreelancelife.com/?p=881#comment-62454 Are deposits with ING Direct insured? I guess the question is : are these cd deposits covered by the Canada Deposit Insurance Corp. - as in up to $100,000? .-= Toni Chasmar´s last blog ..<a href="http://www.driptips.ca/index.php?option=com_content&view=article&id=32:commentary&catid=2:uncategorized&Itemid=5" rel="nofollow">Ongoing Commentary</a> =-. Are deposits with ING Direct insured? I guess the question is : are these cd deposits covered by the Canada Deposit Insurance Corp. – as in up to $100,000?
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]]> By: The 2009 Personal Finance “How to” Roundup | AllFinancialMatters http://financefreelancelife.com/2008/09/02/how-to-easily-open-a-cd-ladder-at-ing-direct/#comment-49298 The 2009 Personal Finance “How to” Roundup | AllFinancialMatters Mon, 06 Jul 2009 16:05:33 +0000 http://financefreelancelife.com/?p=881#comment-49298 [...] 2. How To Open a CD Ladder at ING Direct [...] [...] 2. How To Open a CD Ladder at ING Direct [...]

]]> By: CD Laddering: A Different Way to Save | Prime Time Money http://financefreelancelife.com/2008/09/02/how-to-easily-open-a-cd-ladder-at-ing-direct/#comment-46112 CD Laddering: A Different Way to Save | Prime Time Money Wed, 20 May 2009 20:22:53 +0000 http://financefreelancelife.com/?p=881#comment-46112 [...] How to Open a CD Ladder with ING DIRECT at Mrs Micah [...] [...] How to Open a CD Ladder with ING DIRECT at Mrs Micah [...]

]]> By: $7500 HomeBuyer Credit: What Should I Do With It? http://financefreelancelife.com/2008/09/02/how-to-easily-open-a-cd-ladder-at-ing-direct/#comment-40923 $7500 HomeBuyer Credit: What Should I Do With It? Fri, 13 Mar 2009 11:01:19 +0000 http://financefreelancelife.com/?p=881#comment-40923 [...] this option, you may want to put it in an interest-earning vehicle, such as an FDIC-insured CD (here’s how to do a CD ladder). While CDs have early withdrawal penalties, they’re usually 3 month’s interest (which [...] [...] this option, you may want to put it in an interest-earning vehicle, such as an FDIC-insured CD (here’s how to do a CD ladder). While CDs have early withdrawal penalties, they’re usually 3 month’s interest (which [...]

]]> By: CD Ladder Explained : Moolanomy http://financefreelancelife.com/2008/09/02/how-to-easily-open-a-cd-ladder-at-ing-direct/#comment-34462 CD Ladder Explained : Moolanomy Fri, 26 Dec 2008 05:01:19 +0000 http://financefreelancelife.com/?p=881#comment-34462 [...] a step-by-step guide on how to start a CD Ladder by Mrs. [...] [...] a step-by-step guide on how to start a CD Ladder by Mrs. [...]

]]> By: Reader Help: Building A CD Ladder | Free From Broke http://financefreelancelife.com/2008/09/02/how-to-easily-open-a-cd-ladder-at-ing-direct/#comment-31199 Reader Help: Building A CD Ladder | Free From Broke Fri, 21 Nov 2008 15:00:44 +0000 http://financefreelancelife.com/?p=881#comment-31199 [...] How To Easily Open A CD Ladder At ING Direct [...] [...] How To Easily Open A CD Ladder At ING Direct [...]

]]> By: Eliza http://financefreelancelife.com/2008/09/02/how-to-easily-open-a-cd-ladder-at-ing-direct/#comment-30764 Eliza Mon, 17 Nov 2008 22:16:53 +0000 http://financefreelancelife.com/?p=881#comment-30764 I like the idea of CD laddering for an emergency fund. We are currently in the process of opening a $1k CD every two weeks for a year--each CD will run 12 months, so we are getting a better-than-savings rate, and the fact that the money is locked up in CDs reduces the temptation to spend it on something-or-other. So I would say that there is a psychological value to CD laddering, as well, especially if you are saving and paying off debt at the same time--locking the money up in a CD helps me to keep my commitment to myself and actually start saving. I like the idea of CD laddering for an emergency fund. We are currently in the process of opening a $1k CD every two weeks for a year–each CD will run 12 months, so we are getting a better-than-savings rate, and the fact that the money is locked up in CDs reduces the temptation to spend it on something-or-other. So I would say that there is a psychological value to CD laddering, as well, especially if you are saving and paying off debt at the same time–locking the money up in a CD helps me to keep my commitment to myself and actually start saving.

]]> By: Put Your Savings on Steroids with Certificates of Deposit ? Get Rich Slowly http://financefreelancelife.com/2008/09/02/how-to-easily-open-a-cd-ladder-at-ing-direct/#comment-29565 Put Your Savings on Steroids with Certificates of Deposit ? Get Rich Slowly Mon, 03 Nov 2008 12:00:53 +0000 http://financefreelancelife.com/?p=881#comment-29565 [...] As each CD matures, you immediately invest your money in a new five-year CD, effectively maintaining the one-year stagger, or ladder. You won’t earn the best possible rate of return, but you will earn a good one, and your income will be relatively constant. The CD ladder is also a form of diversification: you’re not betting all your money on one interest rate. (Mrs. Micah has an introduction to laddering CDs at ING Direct.) [...] [...] As each CD matures, you immediately invest your money in a new five-year CD, effectively maintaining the one-year stagger, or ladder. You won’t earn the best possible rate of return, but you will earn a good one, and your income will be relatively constant. The CD ladder is also a form of diversification: you’re not betting all your money on one interest rate. (Mrs. Micah has an introduction to laddering CDs at ING Direct.) [...]

]]> By: Mike http://financefreelancelife.com/2008/09/02/how-to-easily-open-a-cd-ladder-at-ing-direct/#comment-27825 Mike Thu, 09 Oct 2008 06:19:40 +0000 http://financefreelancelife.com/?p=881#comment-27825 Thanks for a great discussion of CD ladders. There is also also a visual diagram of how this works here: http://www.cdladders.com/how-to-start-a-cd-ladder Thanks for a great discussion of CD ladders. There is also also a visual diagram of how this works here: http://www.cdladders.com/how-to-start-a-cd-ladder

]]> By: Danielle http://financefreelancelife.com/2008/09/02/how-to-easily-open-a-cd-ladder-at-ing-direct/#comment-26990 Danielle Wed, 01 Oct 2008 22:02:22 +0000 http://financefreelancelife.com/?p=881#comment-26990 I have a friend that did this for his emergency fund, but didn't do it in the same manner you describe, having different terms and a CD maturing every 3 months. He instead opened a CD with 1 months expenses (or close to) every month for 6 months. In this manner a CD was maturing every month and until he needs to tap it the interest can just be reinvested. I don't think this method would apply to the dollar cost averaging part of this discussion, just thought I would share the CD ladder method I heard of first. I have a friend that did this for his emergency fund, but didn’t do it in the same manner you describe, having different terms and a CD maturing every 3 months.

He instead opened a CD with 1 months expenses (or close to) every month for 6 months.

In this manner a CD was maturing every month and until he needs to tap it the interest can just be reinvested.

I don’t think this method would apply to the dollar cost averaging part of this discussion, just thought I would share the CD ladder method I heard of first.

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