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4 expert recommendations for savers today




A high-yield savings account can help you earn as much as 5% APY today.

LINNEA FRANK / Getty Images

You may already know the benefits of saving money amid today’s high interest rates. Opening a high-yield savings account now can help you yield upwards of 5% APY in some cases, potentially adding a significant sum to your overall balance over time. And on the cusp of yet another rate hike from the Federal Reserve, there could be even more opportunity for growth in the near future. 

Even after you’ve opened a high-yield savings account, you can take action to ensure you’re making the most of the account and the money you save. Experts we’ve spoken to believe that you’ll get the most from saving while rates are high when you also practice solid savings habits to help grow your balance over the long-term. 

Find out the top savings rates you could be earning right now here. 

4 expert recommendations for savers today

We asked four experts what actions they recommend savers take now through the end of 2023. Here’s what they said:

Review your existing accounts

Set yourself up for success with a great high-yield savings account after reviewing the accounts you already have open. There’s a high likelihood you may have a savings account earning less than 1%, says Mike Zeiter, CFP, owner and financial planner at Foundations Financial Planning. “A quick review of what your accounts are paying in interest and your time frame for your funds will help ensure you take advantage of the current savings rate environment.”

If you’re not satisfied with your current rate, look for accounts earning competitive interest rates today. Consider starting your search with a baseline threshold of 4.20% APY — 10 times the national average. But compare other online accounts earning 4.50% or even close to 5.00% APY too, using details like monthly fees, minimums, access and more. 

Start comparing the best savings account rates available now and save more today!


The easier you make it for yourself to save, the more likely you are to stick to it. 

“It’s easy to let hard-earned cash slip through your fingers if you don’t have a system and plan in place,” says Ryan Greiser, CFP and founder and financial planner at Opulus financial planning firm.

Automating your savings contributions can help streamline the process. When you automate, a predetermined amount of money will be transferred directly to your savings on a regular basis (monthly, biweekly, etc. — whatever you decide). 

“Pay yourself first,” Greiser says. “Think of it as a financial mantra to live by. Before spending money on things that you love, channel a portion of your income towards savings and investments. Automate this and keep the momentum going. Because guess what? If you wait to save whatever’s left after spending, you might end up with nothing.”

Stay informed

To further improve your plan, make sure you take stock of your current savings balance, budget and overall financial goals. 

“Review your current savings strategy and financial goals,” says Jason Hamilton, CFP, founder of Keep It Simple Financial Planning. “Assess whether you have sufficient emergency savings, short-term goals, and long-term objectives. Make adjustments as needed to align with your changing circumstances.”

But even after your savings plan is in place, that doesn’t necessarily mean you should set-it-and-forget-it. It pays to stay informed on your plan and performance — like, for example, how your balance is growing over time, whether you’re approaching your goals at the pace you expected and where current interest rates are.

“Keep yourself updated on changes in interest rates, market conditions, and economic trends,” Hamilton says. “Staying informed will help you make informed decisions about your savings and investment strategies.”

Don’t wait

Perhaps one of the most frequent messages we hear from experts we speak with is to start saving sooner rather than later.

“Get started today!” says Michelle M. Vargas, CFP, president of Waymaker Financial Planning. “Take one small step each week toward reaching your financial goals. It pays huge dividends in the future once you stick with your plan and make small improvements over time.” 

It can seem like a huge task to find the perfect savings account, set up a plan and work out other details before you can save — but remember, getting started is more important than perfection. You can always change your automated transfer amount later, or open another high-yield savings account devoted to a new savings goal once you’ve gotten into the habit of saving. 

But starting the process today can help you take advantage of current high interest rates for as long as possible, and ultimately add more to your savings with interest earnings over time.

Find out what you can earn now with today’s top savings rates.

The bottom line

Saving money is one of the best ways to get ahead in today’s high interest rate environment. To make the most of your savings, the experts we’ve spoken to recommend not only reviewing your accounts and finding a high-earning savings account, but also automating your contributions and reviewing progress and new options over time. But most importantly, don’t hesitate. By starting to save early, you’ll have more time to reach your goals and can get the most value from current high rates.

Compare available savings interest rates here today. 

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Missouri Supreme Court halts release of man whose murder conviction was overturned




The Missouri Supreme Court halted the immediate release Wednesday of a man whose murder conviction was overturned — just as the man was about to walk free.

A St. Louis Circuit Court judge had ordered Christopher Dunn, now 52, to be released by 6 p.m. CDT Wednesday and threatened the prison warden with contempt if Dunn remained imprisoned. But Republican Attorney General Andrew Bailey has been fighting Dunn’s release.

The situation was chaotic as the deadline set by the judge approached. Corrections Department spokesperson Karen Pojmann told The Associated Press that Dunn was out of the prison facility and waiting for a ride. His wife told the AP she was on his way to pick him up. Minutes later, Pojmann corrected herself and said that while Dunn was signing paperwork to be released, the Missouri Supreme Court issued a ruling that put his freedom on hold.

St. Louis Circuit Judge Jason Sengheiser overturned Dunn’s murder conviction Monday, citing evidence of “actual innocence” in the 1990 killing. He ordered Dunn’s immediate release then, but Bailey appealed, and the state Department of Corrections declined to release Dunn.

St. Louis Circuit Attorney Gabe Gore had filed a motion Wednesday urging the judge to immediately order Dunn’s freedom.

“The Attorney General cannot unilaterally decide to ignore this Court’s Order,” Gore wrote.

An attorney for the Department of Corrections told a lawyer in Gore’s office that Bailey advised the agency not to release Dunn until the appeal plays out, according to a court filing. When told it was improper to ignore a court order, the Department of Corrections attorney “responded that the Attorney General’s Office is legal counsel to the DOC and the DOC would be following the advice of counsel.”

Dunn’s attorney, Tricia Rojo Bushnell, the executive director of the Midwest Innocence Project, expressed her frustration.

“What is this bringing to taxpayers in Missouri? What is this use of our resources and our state’s time getting us?” she said. “All it’s doing is keeping innocent people in prison.”

Dunn’s wife said while driving to the prison that they were numb when he didn’t get out earlier this week.

“If you know a little about the story, you know we’ve had a lot of disappointments where we thought we’d finally get his freedom and it was snatched away,” Kira Dunn said. “So we were just bracing ourselves.”

Dunn’s situation is similar to what happened to Sandra Hemme.

The 64-year-old woman spent 43 years in prison for the fatal stabbing of a woman in St. Joseph in 1980. A judge on June 14 cited evidence of “actual innocence” and overturned her conviction. She had been the longest held wrongly incarcerated woman known in the U.S., according to the National Innocence Project, which worked to free Hemme.

Appeals by Bailey — all the way up to the Missouri Supreme Court — kept Hemme imprisoned at the Chillicothe Correctional Center. During a court hearing Friday, Judge Ryan Horsman said that if Hemme wasn’t released within hours, Bailey himself would have to appear in court with contempt of court on the table. Hemme was released later that day.

The judge also scolded Bailey’s office for calling the warden and telling prison officials not to release Hemme after he ordered her to be freed on her own recognizance.

Dunn, who is Black, was 18 in 1990 when 15-year-old Ricco Rogers was killed. Among the key evidence used to convict him of first-degree murder was testimony from two boys who were at the scene of the shooting. Both later recanted their testimony, saying they had been coerced by police and prosecutors.

At an evidentiary hearing in 2020, another judge agreed that a jury would likely find Dunn not guilty based on new evidence. But that judge, William Hickle, declined to exonerate Dunn, citing a 2016 Missouri Supreme Court ruling that only death row inmates — not those like Dunn sentenced to life in prison without the possibility of parole — could make a “freestanding” claim of actual innocence.

A 2021 law now allows prosecutors to seek court hearings in cases with new evidence of a wrongful conviction.

Although Bailey’s office is not required to oppose such efforts, lawyers for his office said at the hearing that initial testimony from two boys at the scene who identified Dunn as the shooter was correct, even though they recanted as adults.

He also raised opposition at a hearing for Lamar Johnson, who spent 28 years in prison for murder. Another St. Louis judge ruled in February 2023 that Johnson was wrongfully convicted, and he was freed.

Another hearing begins Aug. 21 for death row inmate Marcellus Williams. Bailey’s office is opposing the challenge to Williams’ conviction, too. Timing is of the essence: Williams is scheduled to be executed Sept. 24.

Steven Puro, professor emeritus of political science at St. Louis University, said Bailey is in a highly competitive race for the attorney general position with the primary quickly approaching on Aug. 6.

“Bailey is trying to show that he is, quote, ‘tough on crime,’ which is a very important Republican conservative position,” he said. “Clearly, he’s angering members of the judicial system that he will have to argue before in the future. But he’s making the strategic notion that he needs to get his name before the voters and try to use that to win the primary election.”

Michael Wolff, a former Missouri Supreme Court judge and chief justice, agreed, saying it seems this has become political for Bailey.

“But one of the things is that no matter what your beliefs are, if a court orders something to happen, it’s not your purview to say no,” he said. “The court has to be obeyed.”

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U.S. intercepts Russian, Chinese bombers off Alaskan coast




7/24: The Daily Report with John Dickerson

7/24: The Daily Report with John Dickerson


The U.S. military intercepted several Russian and Chinese bombers in international airspace near the coast of Alaska Wednesday.

Two Russian Tu-95s and two Chinese H-6s entered what is known as the Alaska Air Defense Identification Zone, North American Aerospace Defense Command said in a statement Wednesday night.

The aircraft were “detected, tracked and intercepted,” NORAD said. They remained in the Alaska ADIZ and did not enter U.S. airspace.

The bombers were intercepted by U.S. F-16 and F-35 fighter jets, along with Canadian CF-18s and other support aircraft, a U.S. defense official confirmed to CBS News.  

The official said that this marks the first time ever that Russian and Chinese aircraft have jointly entered the Alaska ADIZ, and the first time Chinese H-6s have encroached off Alaska.

While the Alaska ADIZ is considered part of international airspace, it is defined as an area where sovereign U.S. airspace ends but “that requires the ready identification of all aircraft in the interest of national security,” according to NORAD.  

The activity from the Russian and Chinese bombers was “not seen as a threat,” NORAD noted.

Tu-95 bomber
FTupolev Tu-95 bomber and missile platforms take part in a rehearsal for a 2020 Victory Day parade in Moscow’s Tverskaya Street, Russia on June 20, 2020. 

Sefa Karacan/Anadolu Agency via Getty Images

In February, the U.S. detected four Russian warplanes flying in the Alaska ADIZ, as was another Russian military aircraft in May 2023.

And in February 2023, Russian warplanes were intercepted there twice in one week. And that same month, a Chinese spy balloon was detected near Alaska before eventually making its way across the continental U.S. and being shot down off the coast of South Carolina. 

Eleanor Watson contributed to this report. 

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Biden gives first Oval Office address since ending 2024 reelection bid | Special Report




Biden gives first Oval Office address since ending 2024 reelection bid | Special Report – CBS News

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President Biden addressed the nation Wednesday for the first time since announcing he’s ending his reelection campaign and endorsing Vice President Kamala Harris for the Democratic presidential nomination. Mr. Biden laid out his plans for the rest of his first term.

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