Earlier than making a step stool or ladder, savers must also contemplate whether or not they have the time to handle certificates at totally different banks with totally different maturities, Ms. Costa mentioned. Except you might be shifting a big sum of money, she mentioned, the trouble will not be value the additional yield.

For many individuals, Ms. Costa mentioned, selecting a high-yield financial savings account could also be the most effective method — even when it means getting a considerably decrease return in your financial savings. The net financial institution Marcus, the buyer arm of Goldman Sachs, is providing 4.5 p.c on a financial savings account, for instance, and Ally Financial institution, one other online-only financial institution, is paying 4.35 p.c. You’ll have to hyperlink the financial savings account to your common financial institution to switch cash out and in.

Listed here are some questions and solutions about C.D.s and financial savings:

Why not go away my cash in a high-yield financial savings account?

For emergency funds that you could be want on quick discover — say, for an sudden automobile restore — financial savings accounts are a great match. However banks can, and do, change the charges they pay on such accounts at any time, in order that choice might turn out to be much less engaging if charges fall. That shouldn’t be a giant concern, nevertheless, in case your cash is supposed for emergency bills, Ms. Benz mentioned. For a rainy-day fund, she mentioned, “the objective is return of principal quite than return on principal.”

What about money-market funds?

Many brokerage corporations have been paying round 5 p.c on money-market mutual funds, low-risk funding accounts. However money-market funds are usually not federally insured. And the speed on these accounts can change at any time.

Ought to I transfer extra of my investments to money, whereas financial savings charges are nonetheless engaging?

Paul Brahim, a monetary adviser on the Wealth Enhancement Group in Pittsburgh, mentioned he heard that query from purchasers eyeing engaging yields on low-risk money automobiles. He mentioned he usually suggested purchasers to maintain cash in money based mostly on their spending wants for the subsequent six months to 3 years, together with an inexpensive reserve for emergencies.

However when you transfer an excessive amount of cash out of long-term investments, Mr. Brahim mentioned, market timing turns into extra of a threat, and you would miss out on vital funding positive factors. “Money is a good concept for everybody,” he mentioned. “But it surely’s vital to have a rational allocation.”