A three year CD in it's second month is a different story. It still has 2 years and 10 months to maturity. Cashing it in at this juncture may be costly. In some cases, you receive less than what you put on deposit. Bills are considered safe.
Risk also comes in gradations of low, medium and high.
I've just mentioned 3 examples in the low end of the spectrum. Medium risk examples would include common stocks and some types of real estate. High risk, on the other hand, are some types of real estate, options and penny stocks. My personal investment model classifies common stock as low risk. Yours might classify common stock as high risk.