Rachel Williams is a small business editor at Forbes Advisor with two decades of professional editing experience. Over the last five years, she has specialized in small business content, helping ...

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.

Saving for retirement can seem daunting, especially when you have no idea where to start. But the 4% rule, a popular guideline used to determine how much you can comfortably spend each year from your ...