$100,000 CD vs. $100,000 high-yield savings account vs. $100,000 money market account: Here's which will earn more interest now
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A $100,000 deposit into a high-rate savings account could make sense for some savers right now. michael balderas/DNY59/ A $100,000 investment is considerable no matter the type. …
A $100,000 deposit into a high-rate savings account could make sense for some savers right now. michael balderas/DNY59/ A $100,000 investment is considerable no matter the type. Whether those six figures are invested in real estate , stocks , bonds, precious metals or a mix of all four, taking this much money out of your savings account and transferring it elsewhere always needs to be done judiciously. And even more so in the economic climate many are contending with currently. With inflation surging in the most recent report, overseas conflicts causing volatility in the market and higher interest rates on pause for the foreseeable future, where you put your $100,000 is more important than usual. For many savers, however, investing it in this climate is understandably not attractive. Instead, the value of select savings accounts may instead be worth exploring. Certificate of deposit (CD) , high-yield savings and money market accounts can each protect your principal while growing your interest at a rate of 4% or higher right now. And while you may be able to earn a bigger return with a stock or two, you could also lose money should the market swing in reverse. That's not a concern with these three account types. To better understand the value each offers savers now, it helps to know how much interest each could earn with a $100,000 deposit. Below, we'll crunch the numbers that savers should know. Start earning more interest on your money with a top savings account today . …
Original source: CBS News Top