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By Spencer Tierney | NerdWallet

Certificates of deposit work as a short-term savings vehicle for goals such as upcoming home or car purchases. If you’re near or in retirement, you might wonder if CDs fit there too.

For risk-averse folks, CDs can be appealing. Safety is central to them: CDs offer predictable returns, federal deposit insurance and no volatility in value such as in the stock market.

“CDs are like that big, comfortable hug in the investing world,” says Noah Damsky, chartered financial analyst and founder of Marina Wealth Advisors in Los Angeles.

But CDs aren’t the most flexible among low-risk savings options. Here are some quick tips for what to do and not do when using CDs for retirement.

Do: Focus on short-term excess funds for CDs

Whether you’re near retirement or not, an emergency fund is a primary goal for short-term savings. Having three to six months’ worth of living expenses, or more, in a regular savings account tends to be a common recommendation. read more

Hanna Webster | (TNS) Pittsburgh Post-Gazette

From the driver’s seat of his parked truck, Lewis recalled what it felt like to take opioids.

He was prescribed Vicodin after getting his wisdom teeth removed at age 15, he says, which jumpstarted an addiction he’s battled for nearly two decades. (Lewis’ last name has been omitted for concerns regarding his medical privacy.)

“I just remember it took all the worries away,” said the Pennsylvania native during a September interview over Zoom. “It gave me a feeling almost like I didn’t have to be afraid.”

He eventually started experimenting with stronger opiates, namely Percocet and Oxycontin, and progressed to heroin a couple years later. He said it was “the worst decision” he’s ever made.

“I lost everything,” said Lewis, who is in his early thirties.

In recovery since 2021, he credits a virtual telemedicine business, Ophelia, with helping him get back on track: “It’s literally changed my life,” he said.

Ophelia partnered with Highmark Wholecare last March to provide telehealth addiction services to its patients, which includes Pennsylvania-based Medicaid and Medicare members; in April, it was designated as Pennsylvania’s first virtual Center of Excellence for opioid use disorder. Centers of Excellence are designated treatment centers deemed official by the state Department of Human Services. read more