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If you were looking for a smart place to keep your money in recent years, you had a variety of options to choose from. 

With interest rates and, thus, returns, high on everything from to and , there was likely a profitable place to keep your money. In many circumstances, with rates on all three accounts similar, the question then shifted to which account type made the most sense, as the returns on each were approximately the same.

However, the rate climate started to shift in the final months of 2024 as multiple rate cuts were issued by the Federal Reserve. That, in turn, led to lower rates on these savings vehicles. 

And now, ahead of a presumed additional cut for when the Fed meets again in September, rates on these accounts are poised to fall again. That's an obvious concern for savers, especially for those looking for a home for a large, five-figure amount of money. 

In these circumstances, then, it helps to crunch the interest-earning potential each offers. This is particularly important to do if you're looking to deposit an amount like $40,000, approximately. Between a $40,000 CD and $40,000 money market account, then, which will earn more if opened right now? That's what we'll determine below.

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Calculating the future interest earnings on a CD is inherently simple to do thanks to the the account comes with. Calculating the future interest earnings with a money market account, however, is not, as it has a variable rate subject to change based on market conditions. 

So there will be a heavy amount of speculation involved with that account type. That said, here's what each could earn with a $40,000 deposit made now, calculated against and on the assumption that the money market account rate remains the same:

So, in these four examples, the money market account returns are only superior in two. The CD earns more over six months and, over a year, returns are identical. That noted, the CD returns are guaranteed while the money market account returns are not and, in all likelihood, will decline alongside a lower federal funds rate. Savers will need to account for that possibility before getting started. If the end goal is to earn a guaranteed return, many may feel more secure pursuing a CD now.

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Both CDs and money market accounts make suitable homes for a $40,000 deposit now, assuming savers prefer to forego the risks and rewards associated with investing that money in the stock market instead. But the rate structure of both account types will need to be weighed carefully as only one will guarantee a high rate of return on the deposit, which should typically be the goal when moving this much money around. Just be sure to calculate your timeline carefully, as a on an account worth $40,000 could be costly.