Q. I have a six-figure savings account. What's the best way to "park" this money?

A. If you have a six-figure savings account in one bank, the first thing you should do -- depending on the total amount -- is split it up and put your money into more than one bank.

The FDIC insures deposits up to $250,000 per depositor per insured bank. That limit is in effect until at least Dec. 31, 2013.

Now, the question of where to park it: It depends on how much access you need.

To make the most of your money, invest in a number of CDs with different maturity dates. We can show you how to build what's called a CD ladder.

To get an idea of what the best CDs are paying, check out our report on where CD rates are heading.

For quick access to your money, you could put a portion of it in a money market or savings account. Check out our comparison charts to see what you might earn. Just be sure to look at the national rates because that's where you'll find the best deals.

A savings account almost always gives you unlimited access, whereas a money market account usually comes with some restrictions: only five or six withdrawals a month, a penalty for closing the account until it has been open six months, etc. Each bank is different -- some issue checks, some ATM cards. But they usually pay better than a savings account -- although there is little difference today.