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Spencer Tierney

Senior Writer & Content Strategist
Expertise
  • Certificates of deposit •
  • Deposit accounts •
  • Neobanks or fintech firms
How I Think About Money “My best money decisions happened when I wasn't rushed or stressed. I write about finance to help people recognize what a good bank account looks like and how to manage money in smart ways.”
12+ Years of Experience
120+ Articles Written
1.9M+ Readers Reached
Education
  • B.A. in English from University of California
  • Berkeley
Spencer Tierney is a consumer banking writer at NerdWallet. He has covered personal finance since 2013, with a focus on certificates of deposit and other banking-related topics. His work has been featured by The Washington Post, USA Today, The Associated Press and the Los Angeles Times, among others. He is based in Oakland, California.
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CD Accounts Explained: Use For Strong Fixed Returns | NerdWallet
10:30
Featured video

CD Accounts Explained: Use For Strong Fixed Returns | NerdWallet

Why should you consider opening a CD? CDs, or certificate of deposit, are a good option for earning interest, especially now that interest rates have bounced back. But be mindful of the drawbacks to CDs that you should know, like penalty fees for early access. We share the pros and cons to CDs so that you are able to accurately weigh your options when considering opening a CD. Suggested Articles: Are CDs Worth It?: https://www.nerdwallet.com/article/banking/cds-right-now Ask a Nerd: When and Why Should I Open a CD?: https://www.nerdwallet.com/article/banking/when-why-to-open-cds Chapters: 0:00 - Intro 0:28 - Benefits of Opening A CD 3:13 - Downside of Certificate of Deposit 4:55 - Initial Deposit Amount for a CD 5:36 - No Penalty CD Account Explained #NerdWallet #CD #CertificateOfDeposit Subscribe to NerdWallet - https://bit.ly/3wGvVf3 About NerdWallet: We’re NerdWallet. And we’re not your typical finance company. We believe that everyone should be able to make financial decisions with confidence. We’ve built a team of Nerds with the knowledge, passion, and skills to make that happen. Thanks to our Nerdy experts, see side-by-side comparisons and objective reviews of the best credit cards, bank accounts, and so much more — so you can get even more financial clarity. It’s the smartest decision for all your financial decisions. Disclaimer: This video is for informational and educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks or securities. Any comments posted under NerdWallet's official account videos are not reviewed or endorsed by NerdWallet or representatives of financial institutions affiliated with the reviewed products unless explicitly stated otherwise. Avoid disclosing personal or sensitive information such as bank accounts or phone numbers. NerdWallet employees do not offer personalized financial advice and will not respond to posts here. Connect with NerdWallet: Follow NerdWallet on TikTok: https://tiktok.com/@nerdwallet Follow NerdWallet on Instagram: https://instagram.com/nerdwallet Follow NerdWallet on Twitter: https://twitter.com/NerdWallet Follow NerdWallet on Facebook: https://facebook.com/NerdWallet NerdWallet Website: https://nerdwallet.com CD Accounts Explained: Use For Strong Fixed Returns | NerdWallet https://www.youtube.com/c/nerdwallet

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