MYGA vs CD: Which Pays More and Works Better for Retirement?

Multi-year guaranteed annuities (MYGAs) and bank CDs both offer fixed guaranteed returns — but MYGAs typically pay higher rates, grow tax-deferred (no annual 1099 while accumulating), and can convert to lifetime income. CDs are FDIC-insured but offer no tax deferral and no income option. For retirement savings, a MYGA is often the stronger choice.

Find a licensed SafeMoney advisor who can help you compare MYGA rates to CDs and find the best option.