$100,000 short-term CD vs. $100,000 high-yield savings account: Which will earn more this year?

A $100,000 deposit will grow differently in a short-term CD compared to a high-yield savings account. tolgart/ Investing $100,000 into the stock market or alternative investments may make sense in a traditional economic climate. But reports this week showed that that's far from where many savers find themselves right now. With inflation surging for the second month in a row and now sitting at its highest level in three years, savers may understandably be looking to protect as much of their money as possible. And while, in a different time, investing a six-figure sum of money may have made financial sense, right now, protecting it with a high-rate savings account may be preferable. And there are two viable ways to do just that in today's still-elevated interest rate climate: a certificate of deposit (CD) and a high-yield savings account . A short-term CD, in particular, can be advantageous now as it won't lock up your money for more than a few months. That will allow you to earn a big return while still allowing you to shift your savings strategy before the end of the year. A high-yield savings account, meanwhile, won't require you to lock your funds at all, allowing you to maintain the same level of access you've been accustomed to with a traditional savings account. Between the two options, then, which will actually earn more interest this year – a $100,000 short-term CD or a $100,000 high-yield savings account? Below, we'll crunch the numbers. …