BEST High Yield Savings Accounts of Q1(Jan - March) 2024
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- Опубліковано 18 січ 2024
- #savings #HYSA
These are the 6 best high-yield savings accounts of 2024.
Ally Bank www.ally.com/
Marcus by Goldman bit.ly/citijft
SoFi bit.ly/citijft
Upgrade bit.ly/citijft
UFB Direct bit.ly/citijft
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Quick Update: The SoFi screen should be showing 4.6%!
The banking situation is a reminder that Fed hikes are having an effect, even if the economy has held up so far,” It’s precisely at times like these that investors need to be on guard against the next certainty. First SVB, then signature bank and now first republic bank, these are all the signs of yet another 2008 market crash 2.0
My main concern now is how can we generate more revenue during quantitative times? I can't afford to see my savings crumble to dust. Sincerely it's best to seek an advisor right now, unless you're canny yourself. As a business owner in both the service industry and eBay reseller of all product categories, I can tell you we’re in a deep recession and everyone is running out of money.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
Sonya Lee Mitchell is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly
#5 0:17 Ally Bank
#4 1:45 Marcus by Goldman Sachs
#3 3:02 SoFi
#2 6:29 Upgrade Premier Savings
#1 7:23 UFB Direct
bonus tip 9:25 leveraging Treasury Bonds
Hit 200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 17k in last month 2024.
please educate me, i am willing to make consultation to improve my situation.
Honestly speaking.... I will continue to trade and stick to Sylvia daily analysis and guides as long as it works well for me.
Very profound! Mrs. Sylvia Nicolas has this great force like the ocean. I have never seen any of her clients complain of loss.🌊❤
No doubt! I never knew sylvia nicolas had gone viral. I decided to back up my assets and property with her when we met at a conference in Boston Massachusetts🇺🇸 for the first time.
The first time we had tried, we invested $4,000 and after a week we received $16,400. That really helped us a lot to pay our bills. Cheers from the North 🇨🇦
Wealthfront. 5% interest, .5% boost for referring a friend. 8 MILLION dollar FDIC insurance. Be careful of banks that need cash fast and offer a high interest rate, but 2 months later drop the interest rate in half.
Can we trust them if they say your locked in like ally says?
You have a code so that we both get .5%?
@@vnorman5332u got a code?
Any comment on them yet? I want to start but the rating they have online is 3.2 and nerdwallet who is a big bank with them has 1.3 and and another 2.9…
Sofi has 4.3 but honestly I feel like they bought the reviews bc it feels unnatural but idk
This is what I want to know as well.
Thank you John! Finance is stressful but you help to alleviate the pain❤
Happy to help!
Finally someone mentioning Upgrade.
Milli bank. Mobile only. Backed by national bank. Im happy. 5.50 apy as of today. No fee, min balance.
i just searched for a review for this and brought me to this video, wondering why it wasnt on the list but good to know theres some good feedback for this because this is what i was thinking of doing.
Is it 5.5% every month of the amount that’s in your savings? For example if I have 7k in the bank and it’s 5.5% interest wouldn’t I get 350?
THANK YOU JOHN!!! DORCHESTER FAMILY STAND UPPP! 🔥 now reside in MINNESOTA thank you this will help my family in mass!!!!!!!
Thank you so much !!!!! very informative!!!!
Good content. Very helpful. I will say it is a bit misleading for your SoFi pitch to say that any money hitting the checking/saving account combo will earn the high yield APY. The high yield 4.5% only applies to the cash sitting in the Savings account. The Checking account will only earn 0.5% as of March 2024. That's an important nuance to highlight for everyone to be aware of.
Investing can be a very impactful way to grow your money, especially when you consider the three main factors that play a role in how much wealth you build: rate of return, how much you invest each month and, of course, time.Big ups to everyone working effortlessly trying to earn a living while building wealth. I’m 50 and my wife 44 we are both retired with over $3 million in net worth and no debts. Currently living smart and frugal with our money. Saving and investing lifestyle made it possible for us this early even till now we earn monthly through passive income..
I would be happy if you could advise me, as I am ready to go the passive income path.
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I appreciate your advice. It's hard to find someone that's reliable. When I see how much you've made investing, I could really use your investment advisor. That is, if you don't mind sharing her information.
Alright, you can easily find her information by doing a quick 🔍 search. Feel free to reach out to her directly with any questions you may have.
I've wanted to start investing for a while. Yet, I've always considered it to be late, and I believe I should quit putting things off. I'll absolutely contact Regina Louise Collaro to ask her for advice. Much thanks. This was quite helpful to me.
Laurel Road is 5%
I don't do direct deposit at any of my accounts nor do I have any of them linked. I just use the atm or request a check.
Ive watched a to. Of your shorts the past couple of years and such great information & insights and so easy on the eyes, too.
Peace
I really appreciate this feedback, and thank you for the support!!
Thanks very helpful! I will consider one of these!
Thanks for explaining 😊
Happy to help!
I’ve had UFB savings for the last couple months… no complaints. Idk how they pulled off 5.25% interest but it’s incredibly comforting to know that my savings is easily outpacing inflation.
What's UFB?
did you even watch the video?@@Theooogurl
I am unable to create an account with all my information being correct any idea on what I can do?
@@jpexez8084did you figure it out I can either
@@Theooogurljust watch the video🤦♂️
Wealthfront gives 0.5% boost for 3 months. Right now it's at 5.00% interest base
I was surprised Wealthfront wasn't even mentioned. I've got 6% APY for 6 months.
If you refer a friend to Marcus you both get 5.5% for 3 months
same with wealthfront
I don’t have friends but thank you.
@@ThuggyMacho😂
Thank you John for always being so helpful! Can you do a video on trusts? And your recommendations for them and who to do them with? Please?! 😊😊😊
Valley Direct is 5.05%
Popular direct is at 5.2%
Thanks for the valuable info!
Thanks a lot, John! Very informative and clear. Came in handy
Thanks. Have just been looking at these as I realized I was losing having my $ parked in a conventional savings. You are the first to mention Tbills- great idea. Do they compound daily? I like the idea of splitting- part in Tbill (biggest chunk) and “ready / emergency” in Markus
According to the Upgrade website it’s 1000 consecutive monthly for that rate
Marcus has been great for me. Easy to create a bunch of accounts and give them names, so that I can budget my savings for different categories (e.g. Emergency fund, Taxes, etc). The app and website are dead simple to use.
That's great you like Marcus! I'm deciding between Ally and Marcus. I need an account that has buckets / categories because I'm saving for a few things at once and I want same day transfers (if possible)so I don't accidentally overdraft because the transfer hasn't gone through yet.
Has anyone tried out BMO Alto? They have a 5.10 APY
@@kendregab7328 - I haven't used Ally, not sure if they have buckets. Regarding same day transfers, I'm under the impression that most online bank accounts won't have instant transfers without a hefty fee. Marcus tends to take 1 business day in my experience, unless I do it late in the day, then it may take 2 days.
I used to edge it with overdraft always looming. Once I stopped doing that, life became so much less stressful. I recommend keeping 2x your monthly costs in checking, and keep a detailed budget that you update each month. These two things really alleviate things a lot. GL!
For how long have u been using it for?
And is it ur only savings account?
@@donjojo4756 - I've used Marcus for a few years now. It works well. I have another savings account with my credit union. It has a lower interest (around 3.8%) but I use it for funds that are more likely to be transferred to checking.
Thank you for the information!
Please relase the calculator from the rental video!!!
Your Marcus link was missing/not working
What about milli bank ??? Just curious.
How do you prevent bank accounts from going dormant?
What do you think of Betterment's Cash Reserve account?
What about EverBank? I just created one and it’s kinda confusing to navigate. Interested in opening with ally or Marcus.
Is there a min/max that you have to buy on T-bills?
I'm going back & forth on opening a high-yield savings or opening a traditional one at my bank. I know there's concern with online hacking/ safety, so a bit torn in the middle.
Hey John, I'm curious to know your perspective.. and for anyone else, feel free to answer. Would you recommend taking your monthly savings budget, splitting it in half, and putting 1/2 in a HY savings and the other half in a T-Bill? Or would it just be better to go all in on one or the other?
Good info here brother
When I click on the UFB Direct link to sign up it’s not showing as an option.
So wait, let me know if I understand this correctly. Let's say I put money in a T-Bill instead of any HYSA, and I specifically put it in the 3 month example you showed (5.35%). Does that 5.35% mean annually even though it's 3 month time frame, or is that 5.35% annually (so 3 months return is ($investment x 5.35% / 12)*3 month = return. If so, sounds like a great way arounds state income taxes (unless you happen to live in a state that already has no income taxes)
Sounds like Ally or Marcus will be my next move to park my savings. I was going to go with Sofi but I can't change my direct deposit account without going through a bunch of bells and whistles from HR at my company. It's not worth it for me. Great video !
Great point on the HR pain of changing direct deposit!
I hear you and thats why most People don’t pick Sofi
Isn’t Marcus getting shut down? I’m confused whether it’s coming back or if people have simply forgotten that it was shutting down.
I don’t know why I have Marcus but my checking account from chase isn’t linking
Is Sofi really 4.65% for a checking account? I’m reading here it’s 4.60% for savings and “vaults” and then 0.50% for checking balances I mean it’s still good but not exactly 4.60%
DCU 6.17% on balances up to $1000. Minimum to open $5. Minimum to earn $0. Monthly fee:$0. I have both Sofi and Ally as well, but I prefer DCU when it comes to HYSA.
Man!!!! I thought Schwab upped their savings yield. Oh well
Hi John - great video. Why wasn’t Milli bank wasn’t in your review? Above 5%. Any feedback or insight you can provide your viewers?
John one important aspect not covered is customer reviews? Big part of the decision-making.
Great point. Will be sure to include that in the next update!
hello for a 18yr student just starting out which would you recommend. I’m looking to cash in a check I just got so im only now starting to look at accounts I can transfer it into. Thank you
You recon it would be good to do per say a bank with a brick and stone location along with So-Fi?
My takeaway from the sofi site was you have to direct deposit $5k monthly to qualify which excludes alot of people.
No, it’s $1k in direct deposits OR $5k from any source (transfers, p2p, check deposits, etc)
@@lifelessimmortalityno it doesn’t. It strictly states that those kind of deposits (p2p, check, transfers, etc) don’t qualify for it.
Sorry, for the bonus that is at least
in the fine print for SOFI says you need to have direct deposit of $5k/month in order to earn 4.6%. Otherwise it's slightly above 1.5%
I love this video. Do these accounts work for people with European bank accounts?
Any physical banks?
public has 5.1 right now
Boom! Great work brother!💪💵
Thank you 🙏 so much for making a rich man already…
Which one is the best to get ?
Do you get paid out each month or yearly?
Valley savings Is 5%
Can I open a bank Account if I live in France ?
Milli and Poppy Bank offer 5.5%, no strings attached
I'm looking into Milli now. Have you worked with them yourself?
Milli Bank has a lot of bad Reviews about People Banks being froze to investigate unusual Activity irregularities getting blocked out of their Accounts from the Reviews I read,just Google Milli but I will research Poppy Bank
The rate is 4.75% now@@RebeccaEWebber
4.75
Is UFB safe??
I'm new to these high yield savings accounts and am interested in opening an account. I was wondering if these accounts have limits or fees on the number of times you can transfer funds out to other checking accounts?
I ask because I like to put majority of my income into a savings account and minimize the amount I have in my checking account (helps me spend less). But occasionally, I have to transfer funds from my savings account into my checking account for unforseen bills that come up. I would like to avoid getting charged extremely ridiculous fees if possible.
What about western alliance?
So which is the best one to get?
Around 150K - SoFi or UFB to easily withdraw all money in one go?
What about Milli? They are offering 5.50% FDIC no minimum, im wondering why this isnt on the list?
If I actually put 10000 in something like sofi and get their 4% interest like they say you would, am I actually going to geg 4%? My credit unions moneymarket is only 0.25%
Thanks for the information, I had forgot that Uncle Sam doesn’t let a dollar gained go untaxed. So T-bills is something I learned from your video.
Cetes in Mexico gives you 11.33% of interest and you can invest without a problem as a foreign person.
say what?
what site would you use to buy?
You didn't mention that the SOFI account is FDIC insured up to $2M (as opposed to $250,000 like just about every other bank).
Great point!
If letting $250k+ sit anywhere, it may be best to pay for education in real estate investing. If not interested, do the next best thing, don't place all eggs in one basket, split the funds into several banks.
I know it's not on this list but now I'm ready to open up an account with either Marcus or Wealthfront. What do you think is better?
I'd like to know what you decide. I'm looking at both as well.
I am a non resident alien with a SSN. Is there any bank that allows me to open a hysa?
Why you talking about checking when your title says savings? Most of us are interesting in parking the money in high yield savings.
Sofi is actually 4.6% on your savings account and all your vaults that you have money in and 0.5% on your checking account
What’s your thoughts on synchrony?
I like them. Good interest rate too
Dang i thought my 5.1% at Primis for the last year was good but UFB Direct at 5.25%?!
How have you liked Primis? I’ve been looking at them as a viable option
How do you feel about wealthfront HYSA?
Very surprised this wasnt talked about. I love it and its 5.5%
It’s solid!
For Sofi, for example you quit your job and your direct deposit will be gone for a moment until you get another job. What will happen with your money?
You lose the high yield and it goes back to 1.2 on savings and .5 on checking. it happened to me
You’ll lose the high interest unfortunately :(
@@cristophersalazar5961 Stinks that that happened to you, but much appreciate your insight. Does the Sofi high interest return after direct deposit is set up again? 🤔 Thank you.
@@johnsfinancetipsdoes this happen with all of these accounts?
will the marcus's fdic insurance count together with my savings at Apple saving account by goldman?
Great question
@@mitchel_gr8The standard deposit insurance coverage limit is $250,000 per depositor, per FDIC-insured bank, per ownership category. Deposits held in different ownership categories are separately insured, up to at least $250,000, even if held at the same bank.
Does this mean that i should banking with TD Bank and put my saving account in of these 5 high yielding saving accounts?
If the yield is not there, I would
I tried most of these banks since last year's bank scare and ended up still liking Ally the most. Ally has the most robust system, statement generation, and so on and so forth. Some of these other banks are so "low-tech" that they can't even generate consolidated monthly statement, or can't do POD beneficiary designation without calling in. The more I try other banks, the more I realize how well Ally is ran. Another issue is that several banks on this list are considered as higher risk banks.
Thank you for this input! I’ve been going back and forth on which bank to choose for my hysa and I think I’m gonna go with ally!
I’m definitely naive in this, but why does it matter if the bank is high risk if it’s FDIC insured? If anything happens, won’t you get your money back anyways? Or does high risk mean something else entirely?
@@Julia-rd3kq FDIC insured is an assurance. If a bank goes under, it triggers a lot of headaches and the process of getting your fund is not always easy. There is also a difference in dealing with online-only bank versus bank with real branches. Perhaps you don't agree but there is no reason to purposely put yourself in elevated risk for tiny interest difference.
Do you know which one of these doesnt require you to be a US Citizen? I am a DACA recipient. And want to get a HYSA
What are your opinions on Ally asking for unsecured emails or pdf/jpg image of social security cards??
Thanks
So what is the catch for the first 3 you talked about? Are you required to pay tax on all 5 of the savings you discussed or just the UFB direct?
You have to pay taxes on any HYSA regardless of who it is
Any thoughts on Paypal savings?
What do you think about capital ones 360 savings? They offer 4.35% I’m already banking with them too
They’re on the list and I also have Capital One Bank and Credit Card so its good its all in one App but 5.00% to 5.25% got me thinking to move out of Capital One into Banks that offer that high of Interest Rates
Can we expect any of these banks to maintain the 4-5% APY rates if The Fed starts cutting interest rates?
No
Can you go over the requirements to obtain these APY? For instance, in SoFi, you need to deposit $5,000 monthly, or you only get 1.2%.
When is the chase sapphire preferred getting a better welcome bonus
we just had a meeting with Chase, they said to check back by the end of next week
What do you think of Credit Karma save ? its 5.10% APY
the ufcb direct will require a $5,000 minimum balance to avoid a $10 monthly fee 😢
Curious to know what bank you personally use
Ally Schwab and T Bills
Rn Sofi is 4.6% not 4.65%
just got an amex gold card, i’ve been reading a lot of countries outside the US typically don’t accept amex, is there any good card to pair with it?
If you want similar earnings on grocery stores and restaurants, then I’d say the Capital One SavorOne
Venture X or Bilt Mastercard for international
I like this guy 💯💯💯
What do you think about Discover High Yield Savings?