<prompt> Human: My daughter is already 4 years old and I havent been able to start saving until recently several emergencies required my financial support. I have started putting away money from each paycheck into a my savings account last month and will continue to do so as a start. I am curious if my best route is to continue to keep the money in my savings account or if I should invest in something a Certificate of Deposit after accumulating a good amount. I am aware that a CD has a maturity date that means no touching otherwise you face a penalty charge, but I dont know much else about them. Im very new to all of this and only just starting putting money in my savings account so pardon me for any ignorance on any matters.  <response>: Make sure youre saving sufficiently for your retirement first. The best way to save for your kid is to ensure they never need to worry about supporting you. 