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As people edge close and closer to retirement age, they begin to long for fixed, low-risk investments to put their money in. After all, it is much harder to recover from an investment loss experienced at age 65 than one experienced at age 35. At 35, not only do you have time for the market and your investment to rebound but you also have many more years ahead of you to increase your earnings. At 65 you are definitely at a disadvantage.
As you begin to transfer out of high-risk positions in your retirement, it is not a good idea to leave your cash uninvested. Instead, you might consider doing some CD rate comparisons to find an attractive interest rate with a CD term that you feel you can stick with. Remember, you will be penalized if you take money from the principal of your CD before the term is up so be sure to leave enough cash or other highly liquid investments in your retirement account to cover any required minimum distributions (RMDs) you may have or any emergency cash needs you could encounter.