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Best Low-Risk Options to Put Your Cash

Audio version available here:

Length: approx. 1 min. 20 sec.


Attention money savers and those with an excess of cash! Take advantage of the opportunity to have a great return on your money, especially in a time where outpacing inflation is incredibly difficult. Here are some low-risk options to gain the most return for funds you plan to use in a few years. 


One option would be to open a high-yield online savings account. Presently, these accounts on several online FDIC-insured banks offer upwards of a 5% yield. For those who plan to spend a large amount in a couple of years, these accounts are an ideal place to deposit your money. 


If you do not wish to create an account with a new bank, your current bank may offer a money marketing account. Not to be confused with money market mutual funds, a money marketing account provides a higher yield than a typical savings or checking account. These accounts do require a “higher minimum deposit”; however, the money is more accessible with the potential to provide the “highest yields available”.


Another option would be a certificate of deposit. Brokerages such as Charles Schwab and Fidelity are currently offering the best returns. They give customers the ability to “comparison shop” and the option not to “set up individual accounts”, making it an efficient option. 


While looking for the best opportunity to get a high return, keep in mind this important precaution: “don’t chase yield”. Give yourself the ability to easily access this money if necessary while also hoping for the best yield. If you need some more guidance on this topic, please read our source article or reach out to our financial experts at XQ CPA.


Phone: 832-295-3353



pink cartoony piggy bank surrounded by stacks of cash.

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