Miranda Marquit is a staff senior personal finance editor for Buy Side. Staff Personal Finance Editor, Buy Side Valerie Morris is a staff editor at Buy Side and a personal finance expert. High-yield ...

With close to a decade of writing and editing experience, Maisha specializes in service journalism and has produced work in the lifestyle, financial services, real estate, and culture spaces. She uses ...

Editor's Note: APYs listed in this article are up-to-date as of the time of publication. They may fluctuate (up or down) as the Fed rate changes. CNBC Select will update as changes are made public.

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The idea that higher risk equals higher return sounds good on paper, but in practice, many finance experts and academics have pointed out inconsistencies. Chief among them is the so-called ...