Reading the numbers before you commit
The 30-year fixed mortgage is America’s default for a reason — the payment is predictable for the life of the loan — but the 15-year’s lower rate plus shorter clock cuts lifetime interest dramatically: on a typical loan, choosing 15 years roughly halves the total interest even though the monthly payment rises by well under double. The mortgage calculator shows both sides of that trade; run it with your own numbers and look at the total-interest line, not just the payment. Remember the payment the lender quotes excludes property tax and homeowner’s insurance, which escrow adds on top.
For the 401(k), one rule dominates every other decision: contribute at least enough to capture your employer’s full match before optimizing anything else — a 50%-of-6% match is an immediate 50% return no market will offer you. The annual employee contribution limit shown above resets each year with IRS inflation adjustments, and catch-up contributions apply from age 50. Traditional-vs-Roth is a tax-bracket bet: pre-tax contributions win if your bracket in retirement will be lower than today, Roth wins if it will be higher.
CDs are the American cousin of the term deposit: a fixed rate for a fixed term, with an early-withdrawal penalty usually quoted in months of interest. FDIC insurance covers deposits up to $250,000 per depositor, per bank, per ownership category — the reason a high CD rate at an online bank is as safe as one at a national brand within that limit. And on the tax page, remember the bracket you see is marginal: crossing into the 24% bracket taxes only the dollars above the threshold, never your whole income.