A high-yield savings account has never looked so good
1. A high-yield savings account is usually a safe betis a great place to keep money when markets are falling — your money can grow with a low interest rate, but is still liquid and sheltered from the volatility of the market. , says high yield savings accounts are a good place to keep money out of the storm. "Online savings accounts are looking pretty interesting, and a lot of them do pay higher yield than some of the Chase, Bank of America types," she says.
as the prime rate set by the Federal Reserve changes. But with a high-yield savings account, you'll certainly earn more than you would with a typical savings account. Despite all the ups and downs in the market, your retirement account is still a relatively safe place to keep money if you still have many years before retirement.
"The capital markets have been one of the greatest wealth generators of all times," Sipes says. "It does require confidence, which is difficult in a situation like this. But, I have to think that you will be rewarded given some discipline and patience."
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