A certificate of deposit ladder may provide a good way to gain a step up on the personal finance climb. It involves setting up CDs at different maturity periods, allowing an investor to take advantage of interest rates spread out over time. Once the first CD matures after a year, it can be reinvested as a new ladder rung. If you're interested in how a CD ladder works, several websites offer good information.
CDRateGuide.com • Discusses the basic approach to building a CD ladder portfolio, at http://bit.ly/19wkYNg.
Interest.com • Provides brief CD ladder overview and calculator, at http://bit.ly/11cyQYr.