I was reading an article on the FDIC website the other day. It's called "Certificates of Deposit: Tips for Savers."
Interestingly, according to the FDIC, many investors neglect to find out the exact maturity of their CD and are then unpleasantly surprised to find out that it's much longer than they had thought.
In the May 20 Interest Rate Roundup, I wrote about a Los Angeles Times article that detailed the struggle of one CD investor who accepted an offer to roll over his CD to a new 30-month CD at prevailing rates. He did not take the time to find out that the prevailing rate was an astonishing 0.65 percent.
Have you ever blundered in your CD investing and neglected to note the maturity or annual yield? What did you do?