In an ideal world, investors look for investments that provide high returns and low risk. However, investments with high returns are often associated with increased risk and vice versa.
High yield savings accounts are great if you’re saving up for something big or if you’re temporarily storing the cash you earned with your high-income skills.
Certificate of Deposits (CD) are closely related to the savings accounts but have higher interests. The FDIC also insures Cds. That means they are practically risk-free.