Final answer:
Savings and checking accounts are the investment options with the highest liquidity because they allow immediate access to funds without penalties or delay.
Step-by-step explanation:
When considering the liquidity of various investment options, liquidity refers to how quickly and easily an investment can be converted into cash without significant loss of value. Among the options presented, savings and checking accounts are typically the most liquid. These accounts allow you to withdraw cash or write checks without any delay or penalty, making them highly liquid. Conversely, retirement accounts, while potentially valuable, can have withdrawal restrictions and penalties, especially if accessed before certain conditions are met, such as reaching retirement age.
Houses and property generally have low liquidity due to the time and complexity involved in selling real estate. Stocks, although more liquid than real estate, still require a buyer and can be subject to market volatility and timing considerations. By comparison, funds in savings and checking accounts can be immediately accessed, making them the investment option with the highest liquidity.