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A financial planner says there's a 'huge opportunity' to build wealth during a recession, but there's still one reason to consider moving your money out of the market

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If you need the cash in a few years, it's safer in a high-yield savings account

The stock market is not the best place to keep money for short-term goals if you're worried about a recession, says Lauren Anastasio, a financial planner at SoFi. If you have investments you'll need to cash out in the next two to four years to fund a short-term goal, it may be a good time to move the money into a high-yield savings account. A high-yield savings account can keep that money completely safe, accessible, and even help it steadily grow.

The stock market is not the best place to keep money for short-term goals if you're worried about a recession, says Lauren Anastasio, a financial planner at SoFi. If you have investments you'll need to cash out in the next two to four years to fund a short-term goal, it may be a good time to move the money into a high-yield savings account. A high-yield savings account can keep that money completely safe, accessible, and even help it steadily grow.

 

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