An added advantage is that long-term CD rates generally exceed standard savings account interest rates.

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How about putting that money in a long-term CD or bond fund for your kids?

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When you start, you can choose a short-term CD for a few months, then choose longer periods in the future.

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In particular, a long-term CD can be a good choice when you want to give a teenager the option of using the money on something other than education, yet you want to discourage them from spending it right away.

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The aforementioned Journal article specifically cited the struggles of Forrest Yeager, a 91-year old World War II veteran who, thanks to short-term CD rates paying less than 1% interest, has been forced to dig deeper into his principal in order to get by on a monthly basis.

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Do you have some of your long term money in a CD?

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One excellent way to mitigate these risks while still buying longer term (and thus higher paying) CDs is to assemble a CD ladder.

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Furthermore, we believe the DVD (and broader optical disk) category has already entered a long-term decline (analogous with peak-to-trough decline of VHS and CD categories), caused by rapid growth in on-line streaming and a la carte rentals (though we admit that UV has been a bit of a disappointment, so far).

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