If you've been meaning to move your cash into a high-yield account or CD, this is your wake-up call. I've been writing about banks for years now and know how many people are just leaving money on the table.

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We're still in a golden window for savers, but it's shrinking fast. Top high-yield savings accounts are paying up to about 5.00% APY, and 1-year CDs are hitting 4.25% or higher at some banks. These are the kinds of rates we haven't seen in two decades. And once the Fed makes its next move, they'll start to disappear.

Why this matters right now

The Federal Reserve has held interest rates steady for most of 2024 and into 2025. But the signals are clear -- rate cuts are likely coming later this year.

Once the Fed starts cutting, banks won't waste time lowering what they pay on savings accounts. That means this moment where savers hold the upper hand won't last.

You don't want to look back six months from now and wish you had moved sooner.

CDs vs. savings accounts: Which should you pick?

If you don't need instant access to your cash, locking in a CD now could protect your yield longer. CDs offer guaranteed returns for anywhere from three months to as long as five or even 10 years, shielding you from the potential of falling rates.

On the flip side, high-yield savings accounts give you flexibility, and the best ones still offer impressive APYs for now. If the Fed delays its cuts, you can still benefit longer term.

Most people wait too long -- don't be one of them

It's easy to miss windows like this because the shift doesn't happen all at once. Rates dip a little, then a little more, and by the time you notice, you've lost your edge.

Banks don't send out alerts when they slash their savings rates. They just quietly do it.

If you've got extra cash sitting in a checking account earning next to nothing, that's dead weight. Even a few thousand dollars moved into a high-yield account now could mean real money by year-end without taking on any risk.

The hardest part is just doing it. But once it's done, your money's finally pulling its weight.

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When most people think about inheritance, their minds go straight to the obvious: real estate, investment accounts, maybe a family business or art collection. These are the assets that, understandably, get top billing in estate plans.

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But for wealthy families, the most valuable thing you can pass down might not be measured in dollars at all.

It's the plan behind the wealth. And it's what keeps fortunes intact across generations.

The asset most families forget

We're talking about something far less tangible yet far more powerful: your financial blueprint. That includes your estate documents, instructions, passwords, advisor network, family values, and everything else your heirs will need to make smart decisions after you're gone.

In other words, the asset that turns a windfall into a legacy.

It sounds simple, but too many high-net-worth families neglect this part of their estate -- and end up costing their heirs time, money, and emotional strain.

When the money's there, but the plan isn't

Consider this: A family inherits $10 million across accounts, properties, and business interests. But no one knows where the documents are. The executor isn't sure who manages the trust. One adult child wants to sell the vacation home, the other wants to keep it. Accounts get frozen. Lawyers get called. Probate drags on.

Now contrast that with a $10 million estate where everything is in a trust, instructions are clearly documented, and the heirs have already met with the family's advisors. The process is fast, tax-efficient, and drama-free.

That's the difference a plan makes. Looking for an advisor? You can use this free tool from our partner SmartAsset that can match you to a fiduciary advisor.

What this overlooked asset actually looks like

It's not a single document but a framework that ties your entire estate together. Think of it as the owners manual for your wealth. At minimum, it needs to include:

• A clearly written and updated will.
• Trust documents that reflect your current goals.
• A consolidated list of accounts, policies, logins, and other places where valuables and documents are stored, like safe deposit boxes and safes.
• Letters of instruction for your executor or trustee.
• Contact info for your estate attorney, tax advisor, and wealth advisor.
• A simple explanation of how you want your heirs to use the wealth -- whether that's preserving it, donating it, or growing it.

For families with significant assets, you might also include a mission statement, a legacy letter, or even a private video explaining your vision. These aren't just sentimental, but they help unify heirs around your intentions.

How to build and maintain it

Creating this kind of clarity doesn't have to be overwhelming. Here's how to start:

1. Get organized

Pull together your documents and financial account info into a central file or secure digital vault. Make sure your executor knows where it is and how to access it.

2. Work with a team

Coordinate your estate attorney, tax professional, and wealth manager. Make sure they're on the same page and that your heirs know who to call if something happens. Don't have an advisor? The advisors on our partner SmartAsset's platform have been rigorously vetted through their proprietary due diligence process.

3. Update regularly

Life changes. Laws change. Make it a habit to revisit your plan annually or after any major life event.

4. Communicate with your heirs

Consider hosting a family financial meeting or creating a legacy document. Even if you don't share exact dollar amounts, communicating your goals helps prevent misunderstandings. This is also especially helpful in letting heirs express their wishes about inheriting non-financial property like family heirlooms, jewelry, photo albums, and other items of nostalgic value.

Don't just leave money -- leave a map

With estate tax exemptions currently set to shrink after 2025, high-net-worth families will soon face more complexity and higher stakes. Without a clear framework, your wealth is more vulnerable to taxes, fees, and family conflict.

This type of planning doesn't just protect your assets. It protects your vision.

You've worked hard to build something meaningful. But if your heirs don't have a plan, even the best investments can lose value.

So treat your instructions, your relationships, your philosophy, as part of the inheritance itself. It could be the most powerful gift you ever give.

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You've done everything right: built a strong portfolio, invested in real estate, maybe even created a thriving business. But when it comes to passing that wealth on, capital gains taxes can quietly undo decades of smart financial planning.

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And for affluent families, the stakes are especially high. A mistimed transfer or a misunderstood tax rule can mean six- or seven-figure bills for your heirs. The good news is it can all be avoided. But it starts with knowing how capital gains really work when wealth changes hands.

What most families get wrong about inherited assets

Here's the core issue: If you give appreciated assets -- like stock, property, or even collectibles -- to your kids while you're still alive, the transferred assets retain your original cost basis. That means when they eventually sell, they're on the hook for capital gains taxes on the full difference between what you paid and the current value. It's worth mentioning that this only applies to assets that have gained value. Gifting assets at a loss is usually not a smart thing to do.

Now consider this: If those same assets are passed down after your death, your heirs may qualify for a step-up in basis, which adjusts the asset's value to the fair market value at the time of your passing. It's one of the most powerful, and overlooked tools for preserving inherited wealth.

A quick example:

• You bought stock for $200,000 that's now worth $1.5 million.
• If you gift it during your lifetime, the cost basis remains $200,000 for the recipients. When they sell, they could face a $1.3 million capital gain -- and a steep tax bill to match.
• If they inherit it after your death, their basis steps up to $1.5 million. Sell it at that value, and the taxable gain? $0.

It's a dramatic difference. And it's one that could easily mean hundreds of thousands of dollars in savings.

Afraid you're not set up for success? The advisors on our partner SmartAsset's platform have been rigorously vetted through our proprietary due diligence process.

What to do instead: Strategies that keep your heirs richer

Here's how to avoid letting capital gains chip away at your legacy:

1. Understand the step-up in basis

Before transferring any assets, talk to a tax advisor about whether those assets would qualify for a step-up in basis at death. In many cases, it's better to hold appreciated investments in your name and let heirs inherit them -- not gift them during life.

If you want to find an advisor but need a place to start, this no-cost quiz from our partner, SmartAsset, makes it easier to find a fiduciary financial advisor.

2. Use gifting strategically

If you do want to give while living, focus on cash or assets that haven't appreciated much. You can also explore using trusts to manage future appreciation in a tax-smart way.

3. Review your estate plan regularly

Tax laws change. Your estate plan should change with them. With the current estate tax exemption set to drop after 2025, now's the time to revisit your strategy.

4. Coordinate with professionals

Work with a financial advisor, estate attorney, and CPA who understand how to navigate capital gains in large estates. Coordination matters -- especially when your portfolio includes a mix of real estate, private equity, and market investments.

The goal is to keep your money

Your generosity should be a gift, not a tax problem. By planning ahead and understanding how capital gains apply to your estate, you can help your family keep more of what you've worked so hard to build.

Don't leave it to chance. A few smart moves now could save your heirs a fortune later.

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How much money do you really need to retire comfortably? For the average American, the answer is $1.26 million, according to the 2025 Northwestern Mutual Planning & Progress Study. That number might feel ambitious -- and for many, it is.

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The study found that 1 in 4 Americans with retirement savings have just one year's worth of their current income saved -- or less. Even more concerning, 51% of U.S. adults say it's likely they'll outlive their savings.

So why is there such a massive gap between what Americans think they need and what they actually have?

1. People start saving too late

On average, Americans don't begin saving for retirement until age 31. That leaves just 30-some years to build a seven-figure nest egg. While Gen Z is starting earlier (around 24), older generations got a much later start, and it shows in their savings.

If you're getting a late start, don't panic. There are still ways to build real momentum. Consider ramping up your 401(k) and IRA contributions, taking advantage of employer matches, or using catch-up contributions if you're over 50.

Want a clear snapshot of where you stand? Use this no-cost quiz from our partner SmartAsset to get matched with up to three fiduciary advisors so you can get professional advice.

2. Rising costs are outpacing savings

Inflation has pushed everyday expenses higher. Healthcare, housing, and long-term care costs are all rising faster than many Americans can keep up with.

That's why today's retirees need more money saved up than previous generations. A $1 million retirement fund doesn't go as far as it did a decade ago, especially if you're planning for a 30-year retirement.

3. Too much focus on growth, not enough on protection

According to the study, 61% of Gen Z and 60% of millennials say they focus heavily on growing their assets but neglect protecting them. That means things like life insurance, long-term care planning, and even budgeting often fall by the wayside.

But building wealth is only half the equation. Protecting what you've worked for is just as important. For example, people routinely lose out on interest by keeping their savings in a traditional savings account instead of a high-yield savings account (HYSA). HYSAs pay up to 10 times the national average rate.

If you need help striking the right balance between growth and safety, you can use this free tool from our partner SmartAsset that can match you to a fiduciary advisor.

4. Many Americans still rely on Social Security

Nearly half of Gen X worries Social Security won't be there when they need it -- and yet, many still plan to rely on it as a primary income source in retirement. Social Security is very likely not going to disappear completely, but payouts could drop.

Social Security is meant to supplement your savings, not replace them. Building up personal assets through 401(k)s, IRAs, and other investments is key to having control and security in retirement.

Don't delay any longer

Americans might know what they need to retire comfortably -- but knowing isn't the same as doing. If you feel like you're falling behind, now is the time to act.

With the right tools, advice, and a little urgency, it's possible to close the gap.

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A high-yield savings account is one of the best places to let your money grow while keeping it within reach. The top interest rates are between 4.50% and 5.00% right now, which is more than 10 times the national average.

Looking for a secure place to grow your savings? See our expert picks for the best FDIC-insured high-yield savings accounts available today - enjoy peace of mind with competitive rates.

We've done the hard work for you and researched the top banks to compile the best options with the highest rates available today.

Below is a list of savings accounts with the best APYs we've found.

Why we chose these savings accounts

• Attractive returns. Enjoy some of the top APYs available to boost your savings quickly.
• Easy start. Some accounts require little or no minimum deposit to open and begin earning interest.
• Digital convenience. Open and manage these accounts fully online from your phone or computer.
• Nationwide access. Open an account from anywhere in the U.S. without needing to join a local credit union.

Want to grow your money without locking it up?

High-yield savings accounts combine flexibility with competitive interest. If you value easy access to your funds and no long-term commitment, an HYSA may be the perfect fit.

Explore more options:

• Best High-Yield Savings Accounts -- See our top picks today
• Banks With Savings Buckets -- Track your savings goals separately
• Safest Banks in the U.S. -- Sleep peacefully at night knowing your money is safe

Should you open a high-yield savings account?

If you have extra cash in an account that's earning you very little, it's a great time to make a change. High-yield savings accounts offer strong rates now, helping your money grow.

Consider opening one if you:

• Need low-fee, easy online access
• Want freedom and flexibility from your bank account
• Seek higher returns without locking funds away
• Value the safety net FDIC insurance provides

These accounts provide better returns while keeping your cash accessible. They're perfect for home and auto repairs, vacation planning, or providing cushion in the event of job loss. Click here to compare the best high-yield savings accounts and open one today.

How to open a high-yield savings account

Getting started with a high-yield savings account is easy and usually takes just a few minutes:

1. Compare your options. Look for the best APY, but also consider fees, ease of access, and minimum balance rules.
2. Apply online. Most accounts can be opened from your phone or computer -- no paperwork required.
3. Fund your account. Link an existing checking or savings account and transfer the amount you want to deposit.
4. Set up recurring deposits (optional). Some accounts offer higher APYs when you make regular monthly contributions.
5. Track your balance and earnings. Interest usually compounds daily and is paid monthly, helping your savings grow faster over time.
6. Keep an eye on your APY. Bank's can raise or lower APYs at their discretion. If you see yours decrease substantially, it may be time to look around for a new account.

Sick of monthly deposit requirements?

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We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.American Express is an advertising partner of Motley Fool Money. Ally is an advertising partner of Motley Fool Money. SLM is an advertising partner of Motley Fool Money. HSBC Holdings is an advertising partner of Motley Fool Money. Wells Fargo is an advertising partner of Motley Fool Money. Discover Financial Services is an advertising partner of Motley Fool Money. Synchrony Financial is an advertising partner of Motley Fool Money. JPMorgan Chase is an advertising partner of Motley Fool Money. Bank of America is an advertising partner of Motley Fool Money. Charles Schwab is an advertising partner of Motley Fool Money. Citigroup is an advertising partner of Motley Fool Money. The Motley Fool has positions in and recommends Axos Financial, Bank of America, Goldman Sachs Group, JPMorgan Chase, PNC Financial Services, and U.S. Bancorp. The Motley Fool recommends Barclays Plc, Charles Schwab, Discover Financial Services, and HSBC Holdings and recommends the following options: short June 2025 $85 calls on Charles Schwab. The Motley Fool has a disclosure policy.

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High-yield savings accounts now offer rates up to 5.00%, which makes them an excellent option for growing your money.

Looking for a secure place to grow your savings? See our expert picks for the best FDIC-insured high-yield savings accounts available today - enjoy peace of mind with competitive rates.

But keep in mind, savings account APYs can differ widely between banks. It's important to compare accounts so you don't miss out on what could be hundreds more in interest earnings per year.

We've searched around to bring you the best options. Check out our top picks for high-yield savings rates today.

Why we picked these savings accounts

• Competitive APYs. These are among the highest interest rates available, helping your money grow faster.
• Low barriers to entry. Some of these accounts have low or no minimum deposit requirements to open or earn interest.
• Online convenience. Every account listed can be opened and managed entirely online from your phone or computer.
• Available nationwide. These banks let you open an account from anywhere in the U.S. without needing to join a local credit union.

Want to grow your money without losing access and flexibility?

High-yield savings accounts combine flexibility with competitive interest. If you value easy access to your funds and no long-term commitment, an HYSA may be the perfect fit.

Explore more options:

• Best High-Yield Savings Accounts -- See our top picks today
• Banks With Savings Buckets -- Track your savings goals separately

Should you open a high-yield savings account now?

Got extra cash sitting in an account earning next to nothing? It's a great time to boost your earnings. Right now, high-yield savings accounts are offering competitive rates.

Opening a high-yield savings account could make sense if:

• You want to earn more interest without locking up your money
• You value safety -- most accounts are FDIC insured
• You prefer flexibility over committing to a fixed term
• You want an account with no or low fees and easy online access

High-yield savings accounts let you earn a competitive return while keeping your money accessible. That makes them ideal for emergency funds, upcoming expenses, or savings goals you want to reach in the next year or two.

How to open a high-yield savings account

Opening a high-yield savings account is simple and quick. You can often do it in minutes.

Here's how to begin:

1. Shop around. Look for the best APY. Think about fees, access, and any minimum balance needs.
2. Utilize online applications. You can open most accounts on your phone or computer without any physical paperwork.
3. Add funds. Connect a checking or savings account and transfer your chosen deposit amount.
4. Set up recurring contributions (optional). This ensures your balance will continue to grow automatically over time.
5. Keep an eye on your APY. Bank's can raise or lower APYs at their discretion. If you see yours decrease substantially, it may be time to look around for a new account.

High-yield accounts offer a simple way to grow your cash with little effort. There's really no reason not to take advantage of the benefits they provide. Click here to compare the best high-yield savings accounts and open one today.

Prefer to skip the monthly deposit requirements?

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We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.American Express is an advertising partner of Motley Fool Money. Ally is an advertising partner of Motley Fool Money. SLM is an advertising partner of Motley Fool Money. HSBC Holdings is an advertising partner of Motley Fool Money. Wells Fargo is an advertising partner of Motley Fool Money. Discover Financial Services is an advertising partner of Motley Fool Money. Synchrony Financial is an advertising partner of Motley Fool Money. JPMorgan Chase is an advertising partner of Motley Fool Money. Bank of America is an advertising partner of Motley Fool Money. Charles Schwab is an advertising partner of Motley Fool Money. Citigroup is an advertising partner of Motley Fool Money. The Motley Fool has positions in and recommends Axos Financial, Bank of America, Goldman Sachs Group, JPMorgan Chase, PNC Financial Services, and U.S. Bancorp. The Motley Fool recommends Barclays Plc, Charles Schwab, Discover Financial Services, and HSBC Holdings and recommends the following options: short June 2025 $85 calls on Charles Schwab. The Motley Fool has a disclosure policy.