Assessing Options: Evaluating a 5.5% CD Rate and Exploring Alternative Investments

Receiving a windfall of $100,000 can be both exciting and overwhelming, especially if you’re unsure about how to invest the money. With zero-risk investments being your preference, a 13-month certificate of deposit (CD) with a 5.5% interest rate seems like a good option. But is it a good rate in comparison to others? And do you need to report the interest on your tax return? In this article, we will explore these questions and outline alternative zero-risk investment options for your inheritance.