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Originally Posted by clavus
USAA offers a home equity line of credit at prime minus .36. HOWEVER, it has a rate of 3.5% for the first six months.
Everbank offers a 6 month CD at 4.15%.
Sooooooooo if you use the money from USAA to invest in a CD from Everbank...free money.
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You are forgetting about the inflationary rate and it's effect on the whole deal. Say you get your money back but now you need more of it to do anything with.
Also with CD's you pay taxes on the Growth. Consider annuities for tax free growth.