When it comes to saving money, most people start with a basic savings account. Then, they move straight into market-based investments, such as stocks and bonds.

While retirement may seem like a lifetime away for many, making smart investing decisions early is the best move to ensure you can retire comfortably down the road. There are several retirement accounts to consider, such as Roth IRAs and 403(b) accounts, but one of the most popular options for many is a 401(k) plan.

With a multitude of investment options available, one popular option is a certificate account. While banks often refer to these accounts as certificates of deposit or CDs, credit unions typically refer to them as certificate accounts.