Here are 3 places to earn 4% on your money starting this June In the current economic climate of high inflation and interest rates, traditional savings accounts are losing value. Savers can offset these conditions by moving funds to accounts offering rates of 4% or more, such as Certificates of Deposit (CDs), high-yield savings accounts, or money market accounts. Making this switch can help prevent financial loss and potentially outpace inflation.

• Current economic conditions include high inflation and high interest rates, with softening wages.
• Traditional savings accounts offer low interest rates (around 0.38%) that do not keep pace with inflation.
• Alternative accounts like CDs, high-yield savings accounts, and money market accounts offer rates of 4% or more.
• CD accounts offer a fixed interest rate for a set term, but early withdrawals incur penalties.
• High-yield savings accounts offer competitive variable rates and allow for easy access to funds.
• Money market accounts provide high variable rates, check-writing features, and combine banking needs.
• Switching to these accounts can help savers avoid losing money to inflation and earn a better return.