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Jimmy has a good amount of money that he 

feels he doesn't need anytime soon, so he 

decides to invest in a retirement fund. He does 

this buy using a certificate of deposit, also 

known as a CD. A CD is a great way for Jimmy 

to secure his finances.

CD's are like a time deposit, which means 

Jimmy promises to keep his money with the 

bank for a certain amount of time. 

in return of Jimmy's promise, he earns 

interest, which means his bank pays 

him back a certain percentage because 

they know that they can use his money 

for things like loans. 

Jimmy made a great decision by 

investing in a CD because its one of 

the safest investments to make. 

Erin wants to save up for a new car, so 

she puts her money in a savings 

account. A savings account is made to 

help people save money over a period 

of time, like a CD, Erin also earns 

interest, but not as much as Jimmy. 

In return to Erin investing in a savings 

account, she gets easy access to her 

money, unlike Jimmy who can't touch it. 

But, Jimmy does get more interest. 

Jimmy picked a great way to start a retirement 

fund by investing in a CD because hes putting 

back money he has to spare. Since Erin is just 

trying to save up for a car, a savings account 

was a great idea because in case of an 

emergency, she can withdrawal money from 

her savings. 

What do you think, would you chose to invest 

in a CD or savings account if you needed to 

save up for something?

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