THE BARON INSIGHT (Best Places for Your Cash)

William Patterson
William R. Patterson
With inflation at a 17-year high, it is important to keep the cash you will need short-term in liquid, guaranteed or very safe investments that pay the highest yields. Here are five great money making options for the smartest BARON savers:

  1. High-Interest Checking Accounts. They are just like traditional checking accounts that offer unlimited check writing except they pay higher yields and may have minimum balance requirements. 
  2. High-Interest Savings Accounts. They too are just like traditional savings accounts except they pay higher yields, may have minimum balance requirements or only allow a limited number of withdrawals per month. 
  3. High-Interest Certificates of Deposit or CDs. They are available with maturities that range from months- to-years. CDs can be great for savers who are concerned that interest rates may drop and wish to lock-in a particular rate for a specific length of time. Note that withdrawing money before a CD reaches its maturity date will likely carry a penalty. 
  4. High-Interest Money Market Accounts and Money Market Mutual Funds. They are both short-term investments that pay interest and can be liquidated at any time without risk of loss or penalty. Money market accounts are usually offered by banks, while money market mutual funds are offered by mutual fund companies. They usually pay a higher return than regular savings accounts and offer limited check writing. 
  5. Real Estate Tax Liens. These are liens placed on property by a taxing authority when real estate taxes have not been paid by a property owner. Individual investors may purchase these tax liens from government agencies earning guaranteed interest rates as high as 16-50% per year. As an added benefit, if the tax lien is not paid by the property owner, the investor is entitled to seize the underlying property.

By visiting the free Resources section of, you will find many of the high-yielding savings options in each of these areas in the country. Many of the highest yielding accounts will be found through FDIC insured online banks because of their lower overhead costs.

Remember, with inflation and supply and demand factors, many goods and services will become increasingly more expensive and the value of each dollar you have saved will slowly erode way. So keep your cash in the safest, highest-yielding, most liquid vehicles available and enjoy the security and returns of being a wise BARON saver.