Storing your $90,000 in a savings account may feel unconventional, but in today's unique economic terrain, taking an unconventional approach may be exactly what's needed. With inflation now at its highest point in three years, elevated interest rates on hold by the Federal Reserve for the foreseeable future and market uncertainty pronounced thanks to the war with Iran, many savers may understandably be looking for alternative ways to protect and grow their money. And that's especially true for those with larger amounts, such as $90,000. It's increasingly obvious, too, that keeping this much money in a traditional savings account, with an average rate of just 0.38% now, is a poor choice.

Fortunately, there are three credible alternatives to consider: a certificate of deposit (CD), a high-yield savings and a money market account. All three have competitive rates that are outpacing inflation right now. And all three will protect your principal while effectively boosting your interest earnings at the same time. But they don't operate identically, and the interest rates on each will differ slightly, too. To better determine which makes the most sense for your $90,000, then, it helps to know the interest-earning potential that accompanies all three right now. 

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$90,000 CD vs. $90,000 high-yield savings account vs. $90,000 money market account: Which will earn more in one year?

CD account interest rates are fixed, making the interest-earning projections easy to complete as the rate will hold through the account's maturity date. Rates on high-yield savings and money market accounts, however, are variable and subject to change to adapt to market conditions. But with higher rates expected to hold for longer, savers can still establish an approximate idea of what they can earn with either. 

Here's how much interest a $90,000 deposit will earn with each over the next year, calculated against the top rates for each and the assumption that the variable rates remain constant and that no maintenance fees or penalties are levied against any of the three accounts:

• $90,000 6-month CD at 4.10%: $1,826.47
• $90,000 high-yield savings account at 4.03% after six months: $1,795.59
• $90,000 money market account at 3.90% after six months: $1,738.21
• Most profitable account: The CD account

• $90,000 9-month CD at 4.00%: $2,686.72
• $90,000 high-yield savings account at 4.03% after nine months: $2,706.77
• $90,000 money market account at 3.90% after nine months: $2,619.87
• Most profitable account: The high-yield savings account

• $90,000 1-year CD at 4.11%: $3,699.00
• $90,000 high-yield savings account at 4.03% after one year: $3,627.00
• $90,000 money market account at 3.90% after one year: $3,510.00
• Most profitable account: The CD account

The CD account is more profitable in two of these three scenarios, then, and unlike the alternative accounts, it guarantees that return as long as savers maintain the account. Still, the interest earnings on the high-yield savings and money market accounts are comparable, if not quite as profitable. 

And, with a money market account specifically, savers will even be able to write checks as needed, which can help streamline their banking needs in a way that a CD or high-yield savings account can't. It's important, then, to evaluate all three options carefully and look beyond just the interest-earning capacity of each to truly determine which fits your needs and goals best.

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The bottom line

A $90,000 CD account will be more profitable than a high-yield savings account or money market account over the next six and 12 months, while the high-yield one will come out on top after nine, assuming today's rates hold. But with the interest earnings on all three accounts similar now, savers should look past what they can technically earn and familiarize themselves with the inner workings of each account. What they may ultimately find is that their $90,000 is better served by being split among two or even all three accounts versus simply sitting in one right now.