A Certificate of Deposit(CD) is a way to place money into a bank account for a fix time and will recieve interest. The usual holding periods are Six months, One year, and Five years. Also, the usual interest on CD's are around 5%. This is a very secure way to hold your money and you will recieve the amount back, but you will most likely in the end come out even. The taxes that are charged and the inflation rate will cause it to come out even. This method is a great way to make sure to keep this money and not spend it, but most of the time the money will come out even in the end.
