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[–] billdred ago 

Multi-Year Guaranteed Annuity. It's like a CD, but it's sold by insurance companies instead of the bank. Hence the higher return rates.

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[–] Peynus [S] 0 points 1 point (+1|-0) ago 

You're gonna hate me now. What's a CD?

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[–] billdred ago 

Certificate of Deposit. It's like a savings account, with a slightly higher interest rate, but you can't touch your money until the period of time you buy for is up. Anywhere from 1 to 5 years, sometimes as much as 10.

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[–] barset ago 

I'm hazy on it because they aren't as widely used as they once were, but if memory serves correctly it's a Certificate of Deposit and had a modest but secured rate of return if left alone sort of like buying a bond back in the day.