{
  "slug": "cd-ladder",
  "name": "CD ladder / money market",
  "aliases": [
    "cd ladder",
    "certificate of deposit ladder",
    "money market fund",
    "mma vs hysa",
    "treasury money market"
  ],
  "family": "cash",
  "heat": "high",
  "talk": "Lots of talk",
  "mostDiscussed": false,
  "firstLine": "A CD ladder staggers certificate maturity dates. Money-market comparisons can involve either bank deposit accounts or investment funds, which have different protections and withdrawal mechanics.",
  "whyLine": "Cash comparisons turn on when money becomes available, the terms for leaving early and whether someone wants to manage staggered maturities or keep a simpler savings balance.",
  "feelWords": [
    "cd ladder",
    "money market",
    "cash parking"
  ],
  "commonPicture": [
    {
      "lead": "Record each maturity and renewal instruction",
      "why": "The calendar determines when a deposit becomes available and what happens next. [community]"
    }
  ],
  "watchFor": "A quoted rate is not a promise about every future renewal. Compare when each deposit becomes available and the cost of leaving early; savings accounts and Treasury bills have different access terms.",
  "whatPeopleSay": [
    "**The job:** park cash they will need, with a known-enough rate. [community]",
    "**r/Bogleheads cash comparisons:** high-yield savings accounts, money-market products, certificates of deposit and Treasury bills are compared for yield, access and administrative work. [community]"
  ],
  "howPeopleRunIt": [
    "**They start with the spending date:** money that may be needed immediately calls for a different access arrangement from a deposit they can leave until maturity. [community]"
  ],
  "amountsPeopleUse": [
    "**The amount follows the purpose:** an emergency reserve and money for a known future bill can need different maturity dates and accessible balances. [community]"
  ],
  "howPeopleKeepIt": [
    "**A maturity calendar if they ladder.** [community]"
  ],
  "howItFeels": [
    "**Boring on purpose.** [community]"
  ],
  "howLongPeopleRunIt": [
    "**Until the rate or the bill changes.** [community]"
  ],
  "deepDive": [
    "**Compare the access arrangements:** a high-yield savings account avoids managing a maturity schedule. A Treasury-bill ladder also staggers dates, but uses securities with their own purchase and early-sale process. A CD comparison needs the institution’s withdrawal and renewal terms, not only the advertised rate. [community]"
  ],
  "watchForLong": [
    "**Locking emergency money in a long CD.** [community]"
  ],
  "related": [
    "hysa",
    "t-bill-ladder",
    "starter-emergency-fund",
    "full-emergency-fund"
  ],
  "researchPointer": [],
  "housePointers": [],
  "playPointer": null,
  "sources": [
    "r/Bogleheads CD/MM/HYSA 2026 threads"
  ],
  "disclaimer": "Community talk. May contain inaccuracies. Not financial, tax, legal, or investment advice. No return or outcome is promised.",
  "quickAnswerHistory": [
    {
      "field": "communityPicture",
      "rows": [
        "Cash threads pick lock versus liquid, shop 2026 rates and keep emergency money out of a long lock. Not a return promise."
      ]
    },
    {
      "field": "commonPicture",
      "rows": [
        {
          "lead": "Rungs vs a pile",
          "why": "CDs lock; MM / HYSA don’t. [community]"
        },
        {
          "lead": "2026 rate shopping",
          "why": "The whole plot. [community]"
        },
        {
          "lead": "Not a T-bill ladder",
          "why": "Different product. [community]"
        }
      ]
    },
    {
      "field": "firstLine",
      "rows": [
        "A CD ladder staggers certificate maturity dates. Money-market comparisons can involve bank deposit accounts or investment funds, with different protections and ways to withdraw."
      ]
    },
    {
      "field": "whyLine",
      "rows": [
        "A CD ladder staggers certificate maturity dates. Money-market comparisons can involve bank deposit accounts or investment funds, with different protections and ways to withdraw."
      ]
    },
    {
      "field": "watchFor",
      "rows": [
        "This is not a return promise. HYSA and T-bill ladder are neighbors. Not $STUD."
      ]
    },
    {
      "field": "whatPeopleSay",
      "rows": [
        "**r/Bogleheads cash threads** mix HYSA, MM, CDs, T-bills. [community]"
      ]
    },
    {
      "field": "howPeopleRunIt",
      "rows": [
        "**They pick lock vs liquid first.** [community]"
      ]
    },
    {
      "field": "amountsPeopleUse",
      "rows": [
        "**A pile with a job** — emergency vs known bill. [community]"
      ]
    },
    {
      "field": "deepDive",
      "rows": [
        "**HYSA and T-bill ladder** are the other parking cards. [community]"
      ]
    }
  ]
}