Many people leave too much money in their high-yield savings account instead of investing it.
Most experts recommend keeping at least three to six months of expenses in a dedicated savings account as an emergency fund.
Ideally, these funds are kept in a high-yield savings account that earns enough interest to keep up with inflation and then some.
The fact is, interest rates for savings accounts and CDs fluctuate based on market conditions.
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Persons:
—, Lawrence, Regina McCann Hess, Hess, Jeff Rose, Will, Shinobu Hindert
Organizations:
Service, Nasdaq, Vanguard, Fidelity