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Who has the best savings account in 2019?

Author: J.D. Roth / Source: Get Rich Slowly

Well, my friends, I need your help. I had been planning to research online savings accounts for an upcoming series of articles, but not for several weeks yet. Things have changed.

I recently received a $35,000 lump sum — I hesitate to call it a windfall for reasons that will be clear in a moment — and now I’d like to put it somewhere that I can earn more than 0.

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01% on my money! I want to find a good high-interest savings account.

But where? In 2019, which online savings account is best? Am I asking the right question? Is an online savings account the best place to put a mound of money like this?

First, let me explain why I’m even interested in finding a new savings account.

Who has the best savings account in 2019?

A Brief Tale of Heartbreaking Loss

As I’ve hinted a few times during the past month, in 2017 and 2018 I made three $50,000 investments in start-up companies. I dabbled in “angel investing”.

One of those investments, as I revealed last week, was in the retirement planning tool called NewRetirement. I also invested in the Financial Gym, an NYC-based financial advice company that takes a “fitness-inspired” approach to offering money advice to real people. (This concept is very similar to a business idea I had: a store that sells financial advice to everyday people. My friend Shannon had a better concept and she’s created a killer business.)

Early last year, I made a third investment. I have a friend who is whip-smart and ultra-successful. She’s started a couple of profitable companies in the past. She and her husband thought they had a great idea for a third, and although this particular concept was outside my area of expertise, I agreed to invest $50,000 in their company.

Well, things didn’t go well. The company failed. I was afraid that with that failure, I’d lost all of my money. Fortunately, I hadn’t. Earlier this month, I received a wire transfer for $34,869.73. After transferring $5000 to my business account (to help pay bills for this site!), I’m left with about $30,000 that I’d like to sock away somewhere that pays more than pennies. But where?