<prompt> Human: So I have some money in a savings account just sitting there earning next to nothing. I had a conversation with a co worker who told me I could put it all in a CD for an agreed amount of time and get a guaranteed return that would be much higher than letting it sit in my savings. So basically its free money? Is this accurate? And why wouldnt everyone do this? Thank you!  <response>: And why wouldnt everyone do this?Youre locked out of the money for the term of the CD, more or less. Youre basically being paid not a lot to lend money to the bank that they dont have to pay you back for six months to a year.If you really dont need to access the money, though, there are higher-interest things you can do with it. Investments, for instance. 