Maximizing Your Savings in Today's Market

High-yield savings accounts are becoming increasingly popular due to the topsy-turvy stock market, looming recession fears, and aggressive interest rate hikes. While no specific threshold earns an account the moniker of "high-yield," the enhanced savings from such accounts can prove substantial, with some offering as much as 5% annual percentage yield. However, the yields on savings accounts could shift downward if the Federal Reserve reverses its policy of rate hikes, and prospective consumers should make sure that an account offering retains government insurance protection.