Here's where retirees should keep $20,000 right now (and where they shouldn't)

Retirees should evaluate their savings account options closely before making a $20,000 deposit now. Miljan Zivkovic/Miljan Živković/Getty Images The average total return on a stock market investment has typically been around 10%, and over the last 10 years, that's increased to as high as 16%. So, for savers looking for a home for their money, it often makes sense to try their luck with stocks, bonds, and maybe even real estate. And that could be especially true now, considering the recent record stock performance many investors have benefited from. At the same time, stocks are also known for big, sometimes overnight losses, and that's something older adults and retirees on fixed incomes have little cushion to absorb. With inflation rising again and higher interest rates keeping borrowing expenses elevated, these retirees need to be even more judicious with where they keep their money. That's especially true for larger, five-figure amounts such as $20,000. Fortunately, there are still viable savings accounts for these retirees to explore now. But not every savings vehicle will be a fit, especially for those who need to maintain access to their funds in case of an emergency . Before getting started, it can be helpful for retirees to know where their $20,000 is actually worth keeping right now … and where it may not be. Start by seeing how much interest your $20,000 could earn in a high-yield savings account now . …