Most of our (my husband and I) savings are placed in a savings account that returns 2% and our 401K. Any suggestions on alternate savings / investments we should consider? What do others do?

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Maximize tax advantaged accounts to their respective limits (401k, IRA, HSA). Have 6-12 (based on risk tolerance) months of expenses saved in your 2% savings account. If you’re saving for a down payment on a home or other near term large expense, save for this using bond mutual funds or the 2% savings account as well. Throw the rest into a diversified portfolio in a regular brokerage account. For this portfolio, choose an equities and bond allocation based on your risk tolerance and time horizon for when you want to tap into those investments.

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I’ve placed my daughter’s savings in government bonds (italian government, as we live here): super low risk, minimum return is 3%, range 3-7%. It worked for me as I didn’t want any risk associated to my daughter’s savings but for my own savings, I opted for a mid risk investment plan through EU bonds.

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Thanks C1. This is helpful. Are financial advisors helpful? Do they have my best interest in mind? Never used one but maybe we should?

In my opinion learning how to do handle it yourself is cheaper and better in the long run. The bogleheads wiki is a great resource online

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