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8 | FALL 2019 T he average American household has $16,420 in savings in 2016, accord- ing to Magnify Money. And about 78% of households had their money placed in at least one type of typical savings account, be it a standard savings, retirement or money market investment account. But there's more out there — accounts that offer fl exibility and, most importantly, a bigger return on your investment. "Whether you're putting aside money for a rainy day fund, home ownership or even retirement, Whether you're socking away funds for retirement or stacking cash for a down payment for your fi rst home, there are better ways to put aside money than a simple savings account. Time to look at your options and grow your money instead of sitting on it. By Jennifer Robertson Norris it's important to know which savings options are best for you," said Susan Longley, Vice President of Servicing Operations at American Airlines Federal Credit Union. "And under- standing the benefi ts of short- versus long-term savings will help you choose the product that best fi ts your your needs." Set it and forget it. Unlike other investing opportunities, share cer- tifi cates (also known as Certifi cates of Deposit or CDs) are federally insured, making them a lower-risk option. The idea is simple: You agree to put a certain amount of money away without Make your money work for you