A Vanguard survey reveals that 57% of Americans are earning less than 3% on their cash savings, missing out on high-yield options. Interest rates may drop, but returns should stay above inflation. High-yield savings accounts, CDs, and money market rates vary, with some accounts yielding over 4%. Many Americans feel they lack understanding of interest rates and how it impacts their savings. Young savers, especially Gen Z and millennials, are missing out on returns due to inertia. While short-term interest rates may decrease, returns should still beat inflation. Source: Business Insider.

Read more at Yahoo Finance: There’s a good chance you’re making a simple mistake when it comes to money, Vanguard says. How to make sure you’re not missing out on any gains.