A well-balanced financial portfolio should include a mix of savings options across various “asset classes.” This not only allows you to benefit from rising values and be protected against market downturns, but by allocating your savings among different classes, you can substantially reduce the worry that comes with investing in only one type of asset.

To augment your nest egg, you probably want to keep some portion of your cash in FDIC-insured bank accounts, such as an interest checking account, a savings account and/or a money market account. Depending on how you divide the cash portion of your financial portfolio, these accounts can provide you with access to your cash in the event of an emergency or unexpected expenses. In addition, if you find undervalued stocks, bonds or other securities, the cash in your bank account(s) could be used to take advantage of the opportunities that make sense for your goals. Moreover, certificates of deposit (CDs) might be a good place to earn interest on a steady basis and help tip the balance in your favor when other areas of your portfolio don't perform as well as you'd hoped.

When developing your financial portfolio and creating a plan for asset allocation, evaluate how much time you have before you'll need to draw your savings and how much risk you can tolerate in the interim. To successfully gauge your allocation, you may need to discuss your goals and plans with a financial advisor.

Ally Bank is committed to helping you make smart financial decisions. Take a look at all the ways we can help your money work its hardest with our Online Savings Account, Money Market Account and Ally Bank CDs—all of which can be opened and funded with any amount and no monthly maintenance fees. Learn more at Ally.com or call live, 24/7 customer care at 877-247-ALLY (2559) today.

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