A high-yield savings account is an excellent option for those who want to earn more interest on their savings without taking on additional risks. These accounts typically offer higher interest rates than traditional savings accounts and are FDIC-insured, providing peace of mind for account holders. Nerdwallet has a most up to date view of their best savings accounts which can give you some comparisons.
When choosing a high-yield savings account, it's important to consider the interest rate, fees, minimum deposit requirements, and other features like customer service and mobile app functionality.
My personal choice is Marcus by Goldman. Because I invest in real estate, and that requires having a significant amount of cash on hand, the high yield savings account allows me to reduce the effect of inflation but also have the security and liquidity benefits I need.
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