Even during a downturn, the stock market is essential for building wealth.
But that's only if you can emotionally and financially handle the risk.
It's not, however, a good place to put your savings when you can't deal with volatility.
If that's the case, Business Insider reports it's better to store cash in a high-yield savings account, CD, or money-market account.
Interest rates on high-yield savings accounts and money market accounts have dropped even further in the wake of the coronavirus.
However, that's no reason to write them off.
They're both better than a regular savings or checking account when it comes to low fees and earning potential.
And if you feel you can comfortably tie up your money for a number of years, consider CDs, or certificates of deposit.