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If you have an extra $10,000 in your savings account right now, you may consider yourself fortunate. After all, in the economic climate of recent years, caused severe damage to many Americans, forcing them to rely on and savings to make ends meet. And while is now significantly lower than it was just a few years ago, the financial impacts are still being felt and likely will be for the foreseeable future. So if you've been able to weather the financial storms of the recent past, you're in an advantageous position. And if you have a five-figure sum of money put to the side, you're in an even better place.

But to make that money work for you – and you'll want it to, considering the sacrifice it took to save it during the previous economic downturn – it's important to keep it in the right place. And in today's rate climate, that's unlikely to be a , which comes with an average now. It can, however, be a or instead. To better determine the value of each, it helps to calculate the potential interest-earning opportunities both account types offer savers looking to make a $10,000 deposit right now. Below, we'll crunch the numbers.

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Currently, the top high-yield savings accounts and the top money market accounts have approximately the same interest rates. According to , high-yield savings accounts top out around 4.30% now, while ones are around 4.32%. Both come with poised to decline if interest rate cuts are issued again later this year. Because of that, it's difficult to predict with any real certainty how much a $10,000 deposit will earn over time. 

Here's what the earnings would look like, however, over a few different time periods, assuming today's rates remain unchanged:

So, if you deposit $10,000 into either account now, you'll virtually earn the same amount of interest over time, assuming rates on both accounts react similarly to market dynamics. In other words, you can't make a wrong decision by choosing either. You'll just need to determine if a variable-rate savings account makes sense for your money now or if you prefer the high (and fixed) a can offer as an alternative.

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It took a lot of hard work and sacrifice to save $10,000 in the economic climate of recent years so it makes sense to make that money work for you as much as you can. 

With a high-yield savings or money market account you can do just that, thanks to interest rates on these accounts that are exponentially higher than what's available with traditional savings accounts. But since these savings vehicles both have variable rates that will change over time and because most economists expect later in 2025, it's also worth exploring what's potentially available with a CD account, even if means having to temporarily forego access to your funds. By exploring all three options and by calculating the interest-earning opportunity for each you'll be better able to determine not only where you should keep this $10,000 right now but into the future as well.