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A high-yield savings account is a smart move you can’t ignore. Details inside on growing your l
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A high-yield savings account is a smart move you canât ignore. Details inside on growing your liquid cash.
Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  Í â  â  [the ascent](~/AAQRxQA~/RgRnlAB3P0SNaHR0cHM6Ly93d3cuZm9vbC5jb20vdGhlLWFzY2VudC8_bWFpbGluZ19pZD0zYTBmOGI1Ni00ZWVjLTQxNmYtYmNjYy1hMTJhNmQ5MTgzMGImdT0yMDM3MTYyOTYxJnV0bV9zaXRlPXRoZWFzY2VudCZ1dG1fbWVkaXVtPWNwYyZ1dG1fc291cmNlPXNvVwNzcGNCCmWxd3uxZUNG3sJSG3RyaXN0cmFtYmFsZHdpbjkyQGdtYWlsLmNvbVgEAAAB-Q~~) While it's good to keep some cash around in case of emergencies, you probably don't want to have too much in your wallet or your home. There could be a robbery, or you could misplace your wallet, and those stressful situations are even worse if you wind up losing a large sum of money. Banks are definitely much safer places for you to store your extra cash. But just because that money is sitting in a bank account doesnât mean it has to earn paltry interest rates. You can actually earn big, risk-free rates on that liquid cash while itâs just sitting there â with a [high-yield savings account](~/AAQRxQA~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). Why? The APYs on savings accounts offered by traditional banks are not even in the same arena as those offered by online banks. If you havenât made the switch to an online high-yield savings account yet, you might as well be throwing money away. Take [this expert pick](~/AAQRxQA~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), for example. Its APY is over 9x the national average. Just to put that in perspective, letâs say you have $10,000 in the bank. If you didnât add a dime to it for 5 years, you would earn $237.22 with a traditional brick-and-mortar bank at the current national deposit rate of 0.47%. But, if you had your $10K in this [top-rated online savings account](~/AAQRxQA~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) you would earn $2,372.64* over that same time period. Thatâs QUITE the difference! Now, why am I taking the time out of your day to tell you about this? Here at The Ascent, our goal is to help you find what we think are the best offers to improve your finances. And [this high-yield savings account](~/AAQRxQA~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) is one of those select offers. I honestly believe it could help you reach your money goals faster. 9x faster! So, take a moment to [learn more with our in-depth review](~/AAQRxQA~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). Inside you'll get our full rundown on why this account is a top pick that could exponentially boost your savings for years to come. [Learn more & apply today](~/AAQRxQA~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) Hereâs to your financial ascent *This calculation is based on a $10,000 principal earning 4.35% APY compounded daily. If rates increase, then it makes the difference of a high-yield savings account even larger. P.S. You should know that we are committed to helping you improve your finances. To that end, if we wouldnât recommend a savings account to a close family member, we wouldnât recommend it to you on The Ascent either. How did you like this email? [Positive](~/AAQRxQA~/RgRnlAB3P0SaaHR0cHM6Ly93d3cuZm9vbC5jb20vbW1zL21hcmsvc2EtcG9zdC1zdXJ2ZXk_bGlkPWZ1c3R1cmEzczJ6aiZvcD0xMTE4NSZ1PTIwMzcxNjI5NjEmbWFpbGluZ19pZD0zYTBmOGI1Ni00ZWVjLTQxNmYtYmNjYy1hMTJhNmQ5MTgzMGImbWFpbGluZ19uYW1lPVZhcmlhbnQgMVcDc3BjQgplsXd7sWVDRt7CUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAfk~) [Negative](~/AAQRxQA~/RgRnlAB3P0SsaHR0cHM6Ly93d3cuZm9vbC5jb20vdmlwL2ludmVzdG9yLWFsZXJ0L3NvLWVtYWlsLXN1cnZleS1mcm93bi8_bGlkPXo2eGJqdXVkaWRpdSZvcD0xMTE4MyZ1PTIwMzcxNjI5NjEmbWFpbGluZ19pZD0zYTBmOGI1Ni00ZWVjLTQxNmYtYmNjYy1hMTJhNmQ5MTgzMGImbWFpbGluZ19uYW1lPVZhcmlhbnQgMVcDc3BjQgplsXd7sWVDRt7CUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAfk~) The Ascent is reader-supported: we may earn a commission from offers we mention here. It's how we make money. But our editorial integrity ensures our experts' opinions aren't influenced by compensation. 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