Look at CDs as "Super Passbook" savings accounts, higher interest rates, and more requirements. In 2007, I feared for the market and started to convert my stocks to mostly CDs of 6 mos or 1 year. Some I rolled over on expiration, some I cashed out. Since the rates plummeted during the crash, most of them expired and I just kept the cash so when I jumped back in, I was about 90% cash and 10% stocks I had chosen to hold. I just consider CDs as a useful place to park cash for a limited amount of time. Of course, right now, due to the immoral, unethical, and corrupt activities of The Fed and the DoT, it doesn't make any sense to even consider CDs.