High yield savings accounts
As my kids graduate from college and start their first jobs, they are interested in making the most of their savings. They are taking full advantage of their employer 401k programs, but are wondering how to make the most of the money they are putting into savings. Is a high yield savings account a good idea for them and if so how do they go about finding a reputable one?
Terry Says
They might also want to open a Roth IRA, in addition to the 40lk plan. The can do that if their income is below about $153,000. But assuming they want to keep their savings liquid, perhaps for the purchase of a home or other things, they might as well just use a money market deposit account at their bank. To make sure they are getting a high rate, they should check comparisons here: https://www.bankrate.com/banking/savings/best-high-yield-interests-savings-accounts/
