In the past I’ve written about what you would do if you had $100k to invest online.  The answers in comments as well as the emails I received were really interesting.

Today I want to discuss (please leave a comment about your opinion) what to do with liquid savings. If you’re not funding your Roth IRA, 401k, and other retirement plans, those are always great for tax deference. But what do you do with your emergency fund?

People are much more careful with their money these days than ever before. The recession that started in the United States and expanded across the world has made conservatives of even the most speculative of investors.

However, there are still some tried and true methods for saving expendable income so that it can work for you in the long run. Below are just a few of the many ways in which you can continue to create more wealth for yourself even in the midst of a recessionary economy.

Savings Accounts

As fixed interest accounts go, savings accounts are the norm. However, there are many different types of savings accounts that you can invest in. There are variable interest savings accounts, high interest savings accounts and many others. The more expendable income that you have, the more options are open to you.

The trick with savings accounts is to find the ones that have interest rates that will outpace inflation. As long as you can overcome the detrimental effects of naturally rising prices, you can make money with a savings account.

Certificates of Deposit

Certificates of deposit, or CDs for short, are perhaps the most well known of the long term accounts. They are certainly safe, as most of them are protected by federal law.

CDs are a great way to save if you have less than perfect discipline. There are many penalties that an investor must incur if money is taken from a CD prematurely; most of these fees are not worth the early withdrawal.

As with savings accounts, CDs are also of a heterogeneous nature. There are many different types of CDs, including variable rate CDs and CDs in which you can deposit more than one time. CDs also pay higher interest rates the more money that you initially deposit into them. Look over your personal finances as they relate to the macroeconomic conditions of the world and choose the best option for yourself.

Government treasuries are by definition the safest investment that can be made at any point in time. These are investments that are wholly backed by the full faith of the United States government, and the interest rates on the treasuries are what set the rate for all other investments.

Invest in government treasuries if you cannot find any other investment that suits you. They are a great place to hold your money until you can think of a better place to put it.

Qualified Wealth Advisors

Finding the right wealth advisor can net you more profit than any of the above investments. The right wealth advisors will be able to diversify your portfolio with further research and a more practiced eye. As with all advisors, you still need to make your own choices.

This was a guest contribution by business professional and journalist Rebecca Leeb. Rebecca has a wide range of professional niches including, business, marketing, legal matters and real estate. For more of Rebecca’s work and professional opinions visit New Wealth Advisors Club.