CDs comes down to interest rates and your ability to withdraw funds. Savings accounts provide less interest than CDs, but your money stays liquid. In other words, you’re allowed to withdraw money at any time. Unlikely savings accounts, CDs have higher interest rates, but don’t have the same liquidity.

Interest Rates CDs pay more interest than traditional savings accounts. In return for your promise that you’ll keep CD funds at the bank for the contracted period, your financial institution will pay you a higher interest rate. In most cases, the longer the term of the CD, the higher the interest rate it pays.

Typically, the rate (APY) on a CD is higher because you must keep your funds in your CD account for the specified duration or term of the CD.

Money market accounts are better than CDs if you’re looking for a more accessible account. MMA rates are typically higher than basic savings accounts and short-term CD rates. CDs can have higher rates than a money market account, but those are often the long-term accounts from two years and upward.

Money market investing can be very advantageous, especially if you need a short-term, relatively safe place to park cash. Some disadvantages are low returns, a loss of purchasing power and that some money market investments are not FDIC insured.

Money market accounts are insured by the Federal Deposit Insurance Corp. (at banks) and the National Credit Union Administration (at credit unions), so you won’t lose your deposits even if the financial institution goes out of business.

5 Things to Invest in When a Recession Hits

1. Seek Out Core Sector Stocks. During a recession, you might be inclined to give up on stocks, but experts say it’s best not to flee equities completely.
2. Focus on Reliable Dividend Stocks.
3. Consider Buying Real Estate.
4. Purchase Precious Metal Investments.
5. “Invest” in Yourself.

Bond Funds Federal bonds are regarded as the safest investments in the market, while municipal bonds and corporate debt offer varying degrees of risk. Low-yield bonds expose you to inflation risk, which is the danger that inflation will cause prices to rise at a rate that out-paces the returns on your investments.

5% to 8%

Your employer can remove money from your 401(k) after you leave the company, but only under certain circumstances. If your balance is less than $1,000, your employer can cut you a check. Your employer can move the money into an IRA of the company’s choice if your balance is between $1,000 to $5,000.

7 Ways to Double Your Money (Fast)

1. Open an account with a trading service such as Robinhood or Webull, which offer free stocks for opening or funding an account or for inviting friends to join.
2. Buy IPO stock.
3. Flip sneakers purchased on Stockx on eBay or via the Snkrs app.
4. Sell freelance services on the Fiverr platform.

Here is a look at the top 10 investment avenues Indians look at while saving for their financial goals.

• Debt mutual funds.
• National Pension System (NPS)
• Public Provident Fund (PPF)
• Bank fixed deposit (FD)
• Senior Citizens’ Saving Scheme (SCSS)
• Pradhan Mantri Vaya Vandana Yojana (PMVVY)
• Real Estate.
• Gold.

Historically, the three main asset classes have been equities (stocks), fixed income (bonds), and cash equivalent or money market instruments. Currently, most investment professionals include real estate, commodities, futures, other financial derivatives, and even cryptocurrencies to the asset class mix.