Tip For High Yield Mid-Term Savings
If you have a mid-term goal that you need to save for, it might be best to invest in CDs right now. With the recent interest rate hikes from the Federal Reserve, the yields on short-term CDs are now the highest they've been in about 5 years.
The downside to CDs is that your money is tied up for a specific amount of time with steep penalties for early withdrawal. The average one-year CD rate is now 5.04% according to the best rate search website, bankrate.com. The highest one-year CD rate is 5.65% APY. These are some great yields.