savings account

According to the Federal Reserve’s most recent Survey of Consumer Finances in 2022, the median savings account balance for U.S. households was $8,000.

What to do instead: Save what you can into a high-yield savings account, so your funds are both accessible and earning interest.

Some conservatives have pushed to privatize the program and create personal savings accounts in their place.

I also have $60,000 in a health savings account that is invested in a mutual fund.

Let’s say you want to benefit two relatives equally, and are leaving a savings account to one and a brokerage account to the other.