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Anyone who lived through the Great Recession remembers the tremendous economic turmoil that took place.
While the economy has since recovered, many people have become wary of financial institutions, with some choosing to hold their cash outside the system entirely.
But if you’ve been keeping money out of banks or investments, you’ve missed out on significant growth — like the Dow Jones climbing from an average of $8,886 in 2009 to $34,122 in 2023, with even further gains in 2024.
How to deposit a large sum of money
You can deposit large sums of cash, but banks must report amounts over $10,000 and may ask about the source of funds. As long as your money is legitimate, there’s no issue — just avoid breaking up deposits to dodge reporting, as that’s illegal. Notify your bank ahead of time, and remember FDIC insurance covers up to $250,000 per account category. To protect more, spread funds across multiple accounts or banks.
Holding onto cash can mean missing out on opportunities for growth. By exploring secure, high-yield savings options and investing platforms, you can maximize your money’s potential and put it to work for your future.
If you’re looking for a dependable way to grow your savings without taking on significant risk, a certificate of deposit (CD) is an excellent choice. With SavingsAccounts.com, you can compare rates and features of CDs offered by different banks and financial institutions — all in one place.
With the Federal Reserve lowering benchmark rates, locking in your funds with a high-interest CD can help you boost your savings.
You can compare real-time data on CD offers and get personalized recommendations here.
If you prefer to take a hands-on approach to investing, Public offers a platform that balances self-directed investing with tools to help you make informed decisions. Whether you’re interested in stocks, ETFs, crypto, or alternative investments, Public allows you to diversify your portfolio responsibly. You can also open a high-yield cash account with Public and earn up to 4.35% APY on uninvested cash. Public charges no fees on its cash account, and you can withdraw and transfer as much as you want without incurring any penalties.
With features like real-time insights, fractional share investing, and a high-yield cash account, Public helps investors grow their wealth steadily.
For those who want to explore additional high-yield savings opportunities, this list of the best high-yield savings accounts of 2025 by Moneywise highlights some of the best accounts available today.
Making moves
While banks may have lost consumer trust during the Great Recession, avoiding the financial system entirely can be a missed opportunity. For instance, $100,000 invested in an S&P 500 index fund in 2009 could have grown to $850,000 by 2024, assuming dividends were reinvested.
While it’s natural to feel cautious about investing, the truth is that long-term, steady investment strategies often yield the best results.
Even in turbulent markets, consistent investing can help you grow your wealth. Platforms like Moby simplify this process by offering expert financial analysis and proven stock recommendations.
Navigating the stock market can be overwhelming, but Moby makes it easier by delivering top-tier research and recommendations. The platform’s team of former hedge fund analysts spends hours analyzing data to provide actionable insights for everyday investors. Moby’s picks have outperformed the S&P 500 by nearly 12% over the past four years, proving its value to users looking to build their portfolios.
If you’re unsure where to start or want professional advice, Advisor.com connects you with vetted financial advisors who can help you create a tailored plan.
From budgeting to retirement planning, Advisor.com provides a comprehensive approach to financial wellness. Whether you’re looking for a one-time strategy session or ongoing support, their platform makes it easy to find the right fit for your needs.
After answering a few simple questions about your financial goals, you’ll be matched with an advisor and can book a free consultation to explore your options.
Invest for retirement
Planning for retirement requires careful consideration of both stability and growth. Whether you’re diversifying with precious metals or automating investments, there are options to suit every approach.
Gold has long been hailed as one of the best investments for retirement, acting as a hedge against inflation and economic fluctuations. The yellow metal’s performance speaks for itself — gold prices have risen by about 84% over the last five years.
You can directly invest in the safe-haven asset by opening a gold IRA with the help of American Hartford Gold. By including gold in your retirement strategy, you can protect your savings as well as reap the tax benefits associated with registered retirement accounts.
You can get up to $15,000 in free silver along with an information guide when you sign up with American Hartford Gold.
If you prefer a hands-off approach to saving, Acorns makes it easy to grow your retirement fund with minimal effort.
With Acorns, you can invest your spare change into diversified ETF portfolios, ensuring steady progress toward your goals. When you make a purchase on your debit or credit card, Acorns rounds up the price to the nearest dollar and deposits the excess into a smart investment portfolio developed by experts.
You can also customize how you save. With an Acorns Silver plan, you get access to Acorns Later, a retirement investment account with a 1% IRA match on new contributions.
You can also opt for Acorns Gold, which offers a 3% IRA match on new contributions and the ability to customize your portfolio by selecting your own stocks.
Sign up now and you can get a $20 bonus investment.
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
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