$50,000 short-term CD vs. $50,000 money market account: Here's which will earn more interest now

Short-term CDs and money market accounts should be carefully evaluated by savers now. Getty Images/iStockphoto There are multiple viable ways for savers to accumulate $50,000 in their savings accounts. But in today's uncertain economic climate, there are few clear ways to protect and grow that money further. Stock market performance has been strong, for example, but market changes there are known to be abrupt and damaging. With inflation surging, wages softening and borrowing costs high thanks to elevated interest rates , the incentive to protect this money is particularly strong now. Two effective ways to do just that are via certificate of deposit (CD) and money market accounts . With a short-term CD, for example, savers can lock in a fixed rate on their money without having to give up extended accessibility, as the account will mature in 12 months or less. With a money market account, meanwhile, savers will be able to earn a similarly competitive rate without sacrificing access to their funds at all. They can even write checks from the account, streamlining their banking needs in a way that a CD will not structurally allow. To better determine the value each represents for savers with $50,000 now, it helps to know the interest-earning potential associated with both. Below, we'll do the math that savers need to know before getting started. See how much interest you could be earning with a high-rate CD account here . $50,000 short-term CD vs. …