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What to do if your CD matures this September
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While decades-high inflation and elevated interest rates have burdened borrowers in recent years, they resulted in exponentially higher returns for savers. From high-yield savings accounts to certificates of deposit (CD) accounts to even high-yield checking accounts, savers were positioned to earn interest rates many times higher than they could have secured just a few years earlier.
But the interest rate environment is changing once again.
Now, inflation has cooled significantly, dropping for the fourth consecutive month in July. A cut to the federal funds rate, which has a strong influence on what rates lenders offer savers, is expected to be cut in September. Additional reductions via the Federal Reserve could follow in November and December, too. So savers will need to adjust their strategy accordingly.
For those with CDs set to mature in September, specifically, a nuanced approach will be required to prevent the loss of interest-earning potential. Below, we’ll detail three things to do if your CD matures this September.
See how much more money you could be earning with a top CD here now.
What to do if your CD matures this September
Do you have a CD account set to mature this September? Then be sure to take the following steps:
Don’t let it automatically rollover
Many lenders will give savers a grace period to decide what to do with their matured funds before automatically rolling them over into a new account. But since rates are falling now, that new account could come with a rate significantly lower than the one you opened earlier in 2024 or before. And you’ll need to pay an early withdrawal penalty to regain access to those funds once they’ve formally rolled over. So don’t wait for that to happen, tell your lender now that you’re planning on accessing the funds.
See what new CD rates and terms are available to you online today.
Shop around for rates and lenders
Because rates are in flux right now and because those rates are unlikely to be as high as they were a year ago, it’s critical to shop around for the highest rates and best lenders for your money now. Remember that you don’t need to use the current lender that operates your CD once it matures. You’ll be free to do what you want with those funds, including moving them to an online lender, which tends to offer higher CD rates than those banks with physical locations. But start shopping now so you’ll know which lender you want to use once the money becomes accessible again.
Move it into a long-term CD
Long-term CD rates haven’t been quite as high as their short-term counterparts in recent years – a direct reversal from historic trends — but that doesn’t mean that these accounts don’t have competitive rates. You can still lock one in the 4% to 5% range now and, unlike short-term CDs, you’ll be able to earn that rate for years to come, even as interest rates are cut across products. This is a major feature right now when multiple rate cuts appear possible. But you’ll need to act quickly, as rates on long-term CDs won’t be immune from reductions either. So be prepared to move your money into a long-term CD right after it matures in the current account.
The bottom line
If your high-rate CD is set to mature in September, don’t worry. But don’t procrastinate, either. Start by telling your lender that you don’t want the funds to automatically roll over and take whatever steps are necessary to ensure that doesn’t happen. Start shopping for new lenders and rates, too. And look to long-term CD options, specifically, to guarantee high returns for the years to come, even if rates are cut in the interim. Just be sure to only deposit an amount that you feel comfortable leaving in the long-term CD for the full period, or you could wipe out any interest earned when hit with an early withdrawal penalty.
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U.S. Air Force gives update on new B-21 stealth bomber: “Nobody on the planet can do what we’re doing”
Air Force leaders gave an update on the B-21 Raider, a futuristic aircraft that is expected to become the United States’ next nuclear stealth bomber.
The aircraft can deliver both “conventional and nuclear munitions,” according to a news release from the Air Force, but will be “critical to deterring conflict” around the world. Gen. Thomas Bussiere, commander of the Air Force Global Strike Command, said the stealth bomber will help the United States keep pace with threats worldwide.
“We are the free world’s only bomber force. … Nobody on the planet can do what we’re doing right now,” Bussiere said, adding that there will likely be an increased demand for the support the stealth bomber can provide in the coming years.
Air Force Global Strike Command
Currently, the stealth bomber remains in the test flight stage, and is doing two such flights a week, according to Thomas Jones, the Northrop Grumman Aeronautics Systems sector president. A photo shared by the Air Force shows one of the bombers during flight testing.
“We’re really starting to strike up quite a cadence … when we started this journey, we made a vow that we were going to design this system to be a daily flyer,” Jones said, according to the release. “It’s been a phenomenal year of progress, and we hope to continue that through the next year.”
A recent notable test confirmed the stealth bomber’s structural design and integrity, according to officials. The plane is now going through a fatigue testing campaign.
Once the planes are tested, some of the aircraft will be delivered to the Ellsworth Air Force Base in South Dakota to help train Air Force squadrons on the stealth bomber. When the B-21 enters the service, this site will be the main operating base for the stealth bomber.
Whiteman Air Force Base in Missouri will be a secondary base, and Dyess Air Force Base in Texas a third.
The stealth bomber is set to replace the B-1 Lancer and B-2 Spirit bombers in the Air Force’s fleet.
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Whether you’re barreling down a mountainside or taking a leisurely ride along your local trail, a great mountain bike is key. But what exactly does a great mountain bike look like, in terms of features? It depends on the kind of terrain and riding style you do.
The best mountain bike for long, cross-country rides will have very different specs than a downhill bike. Some offer full suspension for a smooth ride on bumpy trails. Some have wider tires that are better at gripping wet or sandy terrain. Some are designed for maximum pedaling efficiency and serious stopping power so you can climb steep mountainsides without wearing yourself out. No matter where you and your new bike are headed this fall, we’ve rounded up the best mountain bikes for every rider and every terrain in 2024. Don’t forget to strap on your bike helmet.
Best mountain bike for beginners: Giant Talon 29 1
Mike’s Bikes
The Giant Talon 29 1 is a solid entry-level mountain bike at a reasonable price point. With its balanced frame geometry and high-traction tires, it’s great for a comfortable, stable ride on most trails. While that means it’s not specialized for uphill climbs or cross-country speed, the balanced design is great for beginners or casual riders who aren’t planning to tackle those more challenging technical trails just yet.
With 80mm to 100mm of suspension travel, this hardtail mountain bike strikes that perfect balance of pedaling efficiency and shock absorption.
Riders can also adjust the suspension within that range by adjusting the air spring and the rebound damping. That gives you improved steering precision and a better ride feel since you can tailor it to your needs. If you’re a beginner, it may take some trial and error to fine-tune those settings, but playing around with them is a great way to learn how suspension impacts your ride.
Get this reliable entry-level mountain bike at Mike’s Bikes for $950.
Top features of the Giant Talon 29 1:
- Grippy tires offer great traction in any trail conditions.
- The balanced frame geometry makes this a comfortable bike for most riders.
- The adjustable suspension fork allows you to fine-tune this mountain bike for your needs.
Best trail bike: Santa Cruz Tallboy C R
Backcountry
A full-suspension mountain bike with 120mm and 130mm suspension travel on the rear and front, respectively, it doesn’t get cushier than the Santa Cruz Tallboy C R (at least, not at this price point). Built for cross-country or trail riding, this bike’s design allows you to glide through rocky terrain almost as if you were just cruising on a paved road. That suspension also helps cushion the impact on pops and short drops so you can build up speed while navigating the trail with confidence.
With that said, it can be a little sluggish on uphill climbs. But if you typically stick to more straightforward trails, you won’t have to deal with that issue. For those just-for-fun weekend trail rides, this is the mountain bike you want.
Get this comfortable, agile trail bike at Backcountry while it’s on sale for $3,849 (reduced from $4,799).
Top features of the Santa Cruz Tallboy C R:
- Boasting full suspension, this mountain bike is a comfy ride no matter how bumpy the terrain.
- The carbon C frame is both lightweight and stiff for better control and improved agility.
- The four-piston brakes offer excellent stopping power.
Best fat tire mountain bike: State 6061 Trail+
State Bicycle Co.
For wet or sandy trails, traction is everything, which means you need a fat tire bike like the State 6061 Trail+. With 4.5-inch wide tires that can handle running even at low PSI, this mountain bike can grip the trail no matter how loose or slippery.
Whether you want to cruise along sandy beaches or power through snowy mountain trails, the stability of this fat tire bike is the key to doing so safely and confidently. You won’t be building up much speed, but you’ll have a lot of fun plowing through trails that a standard trail bike couldn’t even touch.
Get this fat tire bike directly from State Bicycle Co. for $1,000.
Top features of the State 6061 Trail+:
- Thick 4.5-inch tires provide extra grip for wet or loose terrain like snow, sand and mud.
- With low PSI capabilities, you can lower the tire pressure to widen the surface area even further to maximize your grip on soft, slippery trails.
- The alloy frame is stiff and strong without adding any more bulk than necessary.
Best mountain bike under $500: Huffy Stone Mountain
Amazon
The Huffy Stone Mountain is a hardtail mountain bike that is lightweight and offers good traction for navigating trails. The budget-friendly bike is missing a lot of the features you’ll find on the more advanced mountain bikes listed above. However, if you’re just starting out and just want to get out on a trail to see if you like mountain biking, this is a good bike to start with.
While you can’t take it on any serious trails, it’s got the basics you need for easy local bike trails. Use it to get a feel for the sport and then upgrade to a mountain bike better suited to the kind of trails you want to tackle. Then, pass this Huffy Stone Mountain on to a friend or teen who’s curious about mountain biking.
A bestseller on Amazon, this budget mountain bike is available for as low as $200.
Top features of the Huffy Stone Mountain:
- This budget entry-level bike is great for casual rides on easy bike trails.
- A wide variety of frame and wheel sizes allows you to get the right fit for your height.
- The lightweight, high-traction design is just enough to let you get a feel for mountain biking before committing to a higher-priced mountain bike with more advanced features and customizability.
Shop more top-rated mountain bikes:
What type of mountain bike should a beginner get?
The best mountain bike for a beginner is a balanced, versatile one. Since you’re probably not tackling steep inclines and declines yet, opt for a trail bike that offers great traction, strong brakes and easy maneuverability along bumpy, muddy trails. That means grippy tires and responsive steering so you can confidently control your bike over tree roots, up hills and on descents.
If the trails you’re eager to go on are largely uphill, look for a bike that’s lightweight with a firmer pedaling platform. Those two features will improve climb efficiency so you’re not wearing yourself out on those uphill stretches.
Do I need a full-suspension mountain bike?
You don’t need a full-suspension mountain bike, but they are nice to have. Unlike hardtail mountain bikes, which only have suspension in the front, full-suspension mountain bikes have suspension in both the front and rear. That extra suspension helps absorb shock, cushioning the impact as you hop over bumps or navigate downhill jumps and drops.
That cushier feel can be nice even on milder trail rides, but they tend to be significantly more expensive and require more maintenance than a hardtail mountain bike. So it might not be worth the extra expense and care if you don’t usually do technical trails or downhill riding.
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