5.44% CD at Discover Bank - Best CD Rate Update

You can often get higher than advertised rates at your local branch if you do your homework. Print out the "Very Best CD Rate Survey" and bring it in with you. Print out some of the advertisement of rates advertised on your bank's competing web sites so you have proof.

Discover Bank Certificate of Deposit Accounts " as of 9/23/08

Term	Interest Rate	APY
3 months	3.00%	3.04%
6 months	3.10%	3.14%
9 months	3.35%	3.40%
1 year	3.97%	4.04%
1½ years	4.30%	4.39%
2 years	4.41%	4.50%
2½ years	4.27%	4.36%
3 years	4.65%	4.75%
4 years	4.85%	4.96%
5 years	5.05%	5.17%
7 years	5.10%	5.23%
10 years	5.30%	5.44%

Discover Bank

Bottom line: It never hurts to ask the teller if better rates are available when you do your homework!

"Highest CD Rate Survey"

Term	Date	Highest Rate (APY)	Where? (Click link for Full Rate Sheets)
Daily Savings	9/23/08	2.27*%	Vanguard Prime Money Market Fund
Tax Exempt	9/23/08	2.82%	Vanguard Tax Exempt Money Market Fund
Online Savings	9/23/08	3.85%	Corus Bank & 3.25% at HSBC Bank
3-Month Treasury	9/23/08	0.72%	US Treasury Rates
6 Months	9/23/08	4.25%	AmTrust Direct
7 Months	9/23/08	4.00%	Wachovia Bank
1 Year	9/23/08	5.00%	Washington Mutual - WaMu
1 Year Treasury	9/23/08	2.17%	US Treasury Rates
18 Months	9/23/08	4.50%	ING Direct
2 Years	9/23/08	4.50%	Wachovia Bank & 4.52% State Bank of India
3 Years	9/23/08	4.75%	Discover Bank
4 Years	9/23/08	4.96%	Discover Bank & 4.97% @ E-Loan
5 Years	9/23/08	5.17%	Discover Bank
5 Yr Treasury	9/23/08	2.99%	US Treasury Rates
7 Years	9/23/08	5.23%	Discover Bank
10 Years	9/23/08	5.44%	Discover Bank
10 Yr Treasury	9/23/08	3.80%	US Treasury Rates
30 Yr Treasury	9/23/08	4.38%	US Treasury Rates

It costs money to get new accounts so Banks often give you a deal if you are ready to walk out the door with a chashier's check after you close your CD.

Definition: A Certificate of Deposit or CD is certificate from a bank stating that the named party has a specified sum on deposit, usually for a given period of time at a fixed rate of interest. Often there is a penalty for early withdrawal (taking your money out before the specified period of time.)

August 2008 Portfolio Performance

Portfolio Performance

Long-Term "Retirement Advisor" Model Portfolio Performance
The Retirement Advisor Model Portfolio Name	Dollar Value on 8/31/2008	Percent Increase
Aggressive Growth and Income Model Portfolio 1 Initial Value of $200,000 on 1/1/2007	$208,065	4.0%
Moderate Growth and Income Model Portfolio 2 Initial Value of $200,000 on 1/1/2007	$213,219	6.6%
Conservative Capital Preservation Model Portfolio 3 Initial Value of $200,000 on 1/1/2007	$222,454	11.2%

Model Portfolios 2007 Results:

The Retirement Advisor Aggressive Growth and Income Model Portfolio 1 , designed for someone approaching retirement who is interested in a portfolio allocation designed to provide income and capital appreciation while avoiding excessive risk, gained 9.52% in 2007, its first year of existence. This portfolio was 50% in stock index funds and 50% in fixed income index funds (or ETF equivalents.) It benefited greatly from TIPS for inflation protection which we feel allows a lower allocation to equities and a 4% withdrawal rate.

The Retirement Advisor Moderate Growth and Income Model Portfolio 2 , designed for someone who has retired and seeks to maintain their current standard of living, even with inflation, gained 8.48% in 2007, its first year of existence. This portfolio was 30% in stock index funds and 70% in fixed income index funds (or ETF equivalents.) It benefited greatly from TIPS for inflation protection

The Retirement Advisor Conservative Capital Preservation Model Portfolio 3 , designed for someone in the later stages of retirement who wants to avoid any losses in their portfolio and who does not need a lot of inflation protection, gained 8.32% in 2007, its first year of existence. This portfolio was 100% in fixed income index funds (or ETF equivalents.) It benefited greatly from TIPS for inflation protection.