A CD bullet strategy can be a workaround: You can get shorter CDs over time, almost like a reverse CD ladder, to earn more interest on funds that you saved up since the initial CD.

Following the CD bullet strategy, you would set a goal to purchase a new $2,000 CD every year. The first one you purchase would have a 5-year term, followed by 4-, 3-, 2- and 1-year terms.

CD ladders Let's say you're earning 4% on your savings in a long-term CD. It's a solid return, but if rates climb, you could be missing out on even higher earnings. On the other hand, if you go ...

Another option is the CD bullet strategy, which involves opening several CDs that will mature around the same time. For example, you might open a 5-year CD now, a 4-year CD next year and a 3-year ...