I never had an IRA (I am participating in a employer sponsored 401(k) program).

With interest rates being that high, and me not wanting to have to pay taxes again on interest on which I already paid taxes on, I want to open a Roth IRA.

Since I am starting, am over 50 years old and have the funds, I could put my maximum allowed contributions in full right away into a Roth IRA CD ($7,500) and get a 5% guaranteed rate, for a term anywhere between 9 and 12 months.

My question is: Should I start with a Roth IRA CD (for which I can can get a fixed 5.0% APY), or a Roth IRA Savings for which I can get a variable 4.3% APY?

I guess the gamble is whether the Roth IRA savings account rates stay about the same, or will go down significantly. I do not think they will go up significantly. And that, just in case I need the money (which I wont), I can withdraw my contributions (not earnings) from the ROTH IRA Savings at any time without any penalty nor taxes.

Eventually, in 2024, I will have to have both accounts. The IRA CD would be the one with the fixed rate, and the IRA savings which allows me to make contributions throughout the year up to the allows maximum, as I wont have any larger amount available to put into a CD right away.

What is your opinion on this?