 TITLE: How Much Money Should You Keep in Checking and Savings? CONTENT: Best Places to Store Additional Cash\n------------------------------------\nOnce your checking and savings accounts are amply funded, it may be time to explore additional options. With basic transaction and savings needs covered, opportunities to earn more may be available to you. Consider:\n*   **Money market and CD accounts**: Money market accounts are similar to high-yield savings accounts. They often come with minimum balance requirements and transaction limits, but they typically offer competitive interest rates. Certificates of deposit, or CDs, can pay higher interest still. Rates and terms vary depending on the amount of money you have to deposit and the predetermined length of time you choose to keep your money in the account. CDs aren't great for emergency funds: If you end up needing the money before the CD matures, you may lose the interest and pay a penalty. For \"extra\" money you don't intend to spend, however, CDs may earn you a bit more in interest without much additional risk.\n*   **Retirement or education accounts**: If you'd like to save toward major life goals like retirement or paying for college, explore the tax advantages of traditional and Roth IRAs or 529 education plans.\n*   **Investments**: Because investing in stocks, bonds or mutual funds comes with additional risk, the time to open an investment account is usually after you've covered your checking and savings needs and are funding a retirement account or college account. If you're interested in investing, take the time to learn more about your options. In addition to considering an experienced financial advisor, you may be able to start out with app-based investing or a robo-advisor. END