Are you maximizing your short-term savings return?
If your answer is “I don’t know” or “probably not,” then read this post to find out how to make ‘easy’ money simply by moving shorter-term savings to higher yielding accounts.
Whether you’re saving for an emergency fund or a vacation, improving the return on your savings accounts will help you reach your goals faster.
The difference between leaving cash in a traditional bank or brokerage savings account and investing it in a high-yield savings account can be worth thousands of dollars. Opening and moving money between savings accounts has never been easier, so chasing short-term yields online can be done with a few ‘clicks’.
And with annual inflation currently around 2.4% in the U.S., a short-term savings account yielding over 3% (assuming 20% tax rate) may even increase your purchasing power.
Read on to learn more about maximizing your short-term savings rate and where to find the best accounts.
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