Low Interest Rates Got You Down? How to Boost Your Returns on Cash Savings

If you’ve got a lot of money sitting in cash, it could be worth looking into using a cash management system to find a better rate of return. Let it do the work while you reap the rewards.

A woman holds up some $50 bills and smiles.
(Image credit: Getty Images)

Most investors are far more devoted to keeping an eye on their stocks, bonds and real estate than their cash reserves. After all, why shop around for a better bank account or CD just to increase your rate of return by, say, 50 basis points (or 0.50%)? Yearly, that’s only $50 extra on $10,000.

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Taylor Schulte, CFP
Founder and CEO, Define Financial

Taylor Schulte, CFP®, is founder and CEO of Define Financial, a fee-only wealth management firm in San Diego. In addition, Schulte hosts The Stay Wealthy Retirement Podcast, teaching people how to reduce taxes, invest smarter, and make work optional. He has been recognized as a top 40 Under 40 adviser by InvestmentNews and one of the top 100 most influential advisers by Investopedia.