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High-Yield Savings: Use It, Don't Worship It

A HYSA is a parking lot, not a portfolio. Park what you need for the next 12 months and put the rest to work.

With short rates above 4%, savers have finally been thrown a bone. Good. Use it for your emergency fund, your next-year spending, and money earmarked for purchases under 18 months out.

Beyond that horizon, cash loses purchasing power. The 4% feels safe. Inflation, taxes, and opportunity cost together eat most of it.