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Depending on your financial goals and priorities, there are various bank accounts that will make sense for you.
Also see seven reasons you shouldnt keep more than $3,000 in a checking account.
Your money will be working hard for you while remaining easily accessible, should you need it.
These typically pay out higher dividend rates as well as a bonus perk for leaving the funds there.
And a CD is a great option.
They have a penalty for withdrawing it early.
This option typically appeals to individuals who dont need the funds immediately, Calkins said.
While a CD typically offers higher rates, the funds are more liquid with a money market account.
This account will help you grow your retirement nest egg so that youre prepared to exit the workforce someday.
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