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2024 Savings Options Amid Rate Uncertainty
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Amidst uncertainty about interest rate cuts in 2024, investors are exploring short-term savings options like CDs, penalty-free CDs, Treasury bills, and money market mutual funds. CD rates are expected to decrease as the Fed prepares for rate cuts, while penalty-free CDs offer lower interest rates but penalty-free early withdrawals. Treasury bills, backed by the U.S. government, provide terms from one month to one year, and money market mutual funds pay roughly 5.5% but are subject to specific terms and conditions.
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How do the liquidity differences between these savings options affect an investor's overall investment strategy?
How might the potential interest rate cuts in 2024 impact the overall investment landscape?
What are the potential risks associated with investing in short-term savings options like CDs and money market mutual funds?
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