Freaked Out By The Market's Gyrations? Here Are Some More Sedate Options

Freaked Out By The Market's Gyrations? Here Are Some More Sedate Options

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.