Ah, but I think the point of the "maturing every three months" thing is that once the first one matures (after the first three months), you replace it with a 12-month CD. But then perhaps you know that. And perhaps you wanted a monthly ladder.
In any event, this *did* get through to the carnival submission mailbox. 
Why don't you do a 3mo, 6mo, 9mo. For the months after those periods. So you can gain a little over the savings rate, so now open a 1 year, 3-3mo, 3-6mo and 2 9months. Then september you can do as planed and open a 1 year. October open a 1 year, the for November rollover the first 3 month one to a year, December the same thake the second 3 month and rollover.
Wow, Carl, great idea. Except that I feel some sort of odd compulsion to start them on the first of the month. So maybe on Sept 1 I'll open a bunch of shortish term ones like you suggest.
Sometimes the obvious simply doesn't occur to me.
Oh! I guess I didn't realize you wanted to open CDs that matured monthly, which ING doesn't have currently. It's a good option for every three months, but if you wanted them monthly, they don't have that product currently. Sorry!
However, they have been really great about having new CD products. Used to be they only had like 3 CD choices - 1, 3, and 5 year. So they are definitely increasing options. I'd keep an eye out, or even send an email to their sales department. You may not be the only one who's looking for that!
I guess I misunderstood the first post. I have opened a series of 6 & 9 month CD's that rollover *almost* monthly. It's working out pretty well. I like the automatic renewal and option.
Oddly, I opened mine at the end of the month, around the 24th, so that I can forecast the upcoming month and decide to renew or not. I see the point of doing the first of the month, but I got the urge one month to open the CD and next thing you know, I'm opening all of them between the 23rd and the 27th. There must be something about the way I review my finances each month that makes me realize I have a surplus at the end of the month.
Hi Claire,
You may want to consider opening an Emigrantdirect account which is currently paying 5.15% on their money market account.
Another option would be to consider laddering 28 day treasury bills. You can open an account at www.treasurydirect.gov
The interest paid is higher than most money market accounts and may be higher than what you can get with a CD because the interest from a treasury bill is not taxable by the state while the interest from a CD is. Whether this makes sense for you depends on your state income tax and whether you could be subject to the alternative minimum tax which I suspect you won't.
Douglas
Douglas, thanks, these are really good suggestions.
If you were willing to move your money to the highest-rate savings account, you'd be better off without the trouble (and potential penalties) of a CD ladder.
CD Ladders are Stupid
So what did you end up doing?
Commenting by HaloScan
