COVERITLIVE.COM

11:14

rebekahmonson - Good Morning. Our live chat will get underway momentarily. We have Matt Saneholtz, a certified financial planner from Tobias Financial Advisors in Plantation, here to answer your questions today.

11:15

rebekahmonson - Our phone lines are also open. Call 305-810-5040, 561-454-6940 or 954-356-4940 to speak with a financial planner about your money questions. You can begin submitting questions now.

11:23

[Comment From Joe in Tamarac]
Which Bank or Credit Union would be the safest, Iwill like to put my money on CD, what do you recomend?, for no more than l year at a time.

11:25

Matt Saneholtz, CFP(R) - In order to protect your investment, you should only buy CD's from banks and credit unions that offer Federal Deposit Insurance Corporation (FDIC) insurance or that are backed by the National Credit Union Share Insurance Fund (NCUSIF). Once you verify this, then your next focus is getting a high interest rate on the CD. You should compare CD rates by using a website such as www.bankrate.com or by looking in your Sun-Sentinel.

11:26

[Comment From Erick in Ft Lauderdale]
Is it a good time to buy I bonds and TIPS?

11:33

Matt Saneholtz, CFP(R) -

I-Bonds and TIPS are securities that are designed to keep up with inflation. Many experts debate whether the current economic environment will create inflationary pressure. I would suggest that these inflation-protected securities should be a part of your diversified portfolio.

11:33

rebekahmonson - Readers, the CD rates from Bankrate appear in the SunSentinel on Monday in the Your Money section. Remember that our phone lines are also open at 305-810-5040, 561-454-6940 or 954-356-4940

11:33

[Comment From Gary-Wilton Manors]
I met with a planner that said lots of great things about annuities. I've seen lots of bad press about them. What's you opinion(s)?

11:39

Matt Saneholtz, CFP(R) - Annuities are great in certain situations but they are not for everybody. First, you must familiarize yourself about the many different type of annuities (variable, fixed, immediate) and the benefits and options they offer. You must understand if there are any penalties and tax consequences if you need to withdraw your investment for an emergency. In short, make sure you understand your annuity and how it works before entering into the annuity contract.

Page 1 Next >