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Guardian Investment

Video Credit: WDEF CBS Chattanooga, TN - Published
Guardian Investment

Guardian Investment

Gary Thurman with Guardian Investments explains investing in bank CDs.

They're safer than stock investments.

Guardianinvcpa.com @guardianinvestmentsandaccounting

Always keeping your money safe is mr. garry thurmond guardian investments great to see you again see you how are you doing well so this morning we're talking about cds besides the music certificates of deposits at the bank is what we want to talk about so why do people often invest in cds of course at their local bank right right some of the main i think the number one reason especially older folks invest them to cds is number one they're safe so you know they know their money's gonna be there they it's not going anywhere it's covered by the fdic for up to two hundred and fifty thousand dollars so i think the number one reason is that it's safe and and there's somewhat liquid you know based on which cd they they choose they can get their hands on that money pretty easily if they need to there's probably a level of convenience there as well level convenience and again the number one reason is safety they don't want to lose that money so that's the biggest reason people invest into cds so security is a good reason security are there any other good things about cds and what about the drawbacks yeah good and bad right so again the good is that it's covered by the fdic and it's covered up to $250,000 and it's at your local bank so you can go down have a conversation with someone about that money the drawback to cds honestly is there's just not a lot of growth you know you're not going to make a lot of money on your cds as a matter of fact i ran some numbers an average in tennessee a two-year cd average is one point five three percent so not a lot of interest going on there and the biggest thing i want folks to understand is that that money is taxable so any when you make that 1.5 3% you're gonna get a 1099 on that money every year so you're actually gonna pay taxes on those gains right and that's not always gonna be favorable and advantage no nobody likes to pay taxes no what do we have to write yeah so talk about what our alternative options are proceeding yeah so there's other products out there so if you're used to doing a 1 3 5 year cd you know we do some products called fixed annuities so the fixed annuities are the same term three to five years they're going to give you anywhere from a two and a half to four percent interest guaranteed which i really like the biggest difference in that is that it grows tax-deferred and what i mean by that is you're not gonna get a 1099 so more money stays in the account for the growth of the next year and then we have other things like fixed indexed annuities which i really love it if you're not gonna need to get your hand on the money anytime soon a fixed indexed annuity you know our average return our now is anywhere from five to seven percent on fixed indexed annuities so that's two of the good options other than doing a cd we have some other options as well we've worked hard for our money let our money work for us that's right you listen growth you want some growth and i just don't see the i think there's a place for a cd you know i do i think there's a place for a cd but i do think that you need to look at some other options if you want to see your money grow better and so this is a couple of the options as well i mean is that the program or the course of action you would recommend i mean i know it's may be customized strategy may be yeah teach person but now we do have a program with a company that i absolutely love and i'd like to talk a few minutes about that why don't love about this particular program it's actually a life insurance policy okay so what's neat about it is there's no risk just like in a cd our average growth has been just over six percent wow in the program which is another strong feature now here's what i really like let's say someone puts a hundred thousand dollars in this cd well they get like a hundred and fifty thousand dollar death benefit so god forbid something happens to that person their family is going to get fifty thousand dollars more then they actually put into the cd so it grows well it's safe and it's 100 percent liquid so if they need to get their hands on that money they can reach in and get it at any time three days after they start it or three years after they started the money is 100 percent liquid now is there i mean you mentioned the program it has a lot of benefits outside of regular cd is there anything extra i think it's a carrot on top people this particular program also has a long-term care feature wow so if you have someone that's up in age and they're a little bit worried about long-term care and that's why they have that money sitting in the back this program actually will give them some long-term care benefits for for free i mean there's no cost to these long-term care benefits so if they need the money for health care it's there if they don't we can just let them money continue to grow and they can pull it out at any time so someone's looked at cds and said now what our needs and created this program perfectly suit our lifestyle i just think it's it's one of the best financial products on the market today because it gives you everything that you're looking for including long-term care so if someone's got some cds at their local bank and they have a couple questions yeah maybe if they can change up their strategy to benefit them a little better in the long run how do we get started don't come see me just give us a call eight nine two four six nine three want to make sure that everybody knows our first meeting there's no obligation whatsoever it's absolutely free we can look at your current cds and see if we can find some alternate situations for you make it work a little better make it work better all right thanks so much for joining us we're gonna talk to you again here




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Guardian Investments [Video]

Guardian Investments

Garry Thurman at Guardian Investments talks about an investment option that is safe like bonds but offers more rewards. guardianinvcpa.com @guardianinvestmentsandaccounting

Credit: WDEF CBS Chattanooga, TNPublished