The BEST High-Yield Savings Accounts of 2024
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- Опубліковано 10 бер 2024
- We live in a world that’s constantly moving faster.
Instead of waiting for a server to place your order and bring your food, you order online in advance. Instead of waiting 3-5 business days for your next delivery, you get it overnight with Amazon Prime.
Why? Because we hate to wait!
But when it comes to building wealth, we don’t have to delay - we can start TODAY!
In today’s video, we will talk about the power of High-Yield Savings Accounts.
Unlike traditional savings accounts, these accounts offer substantially higher interest rates, allowing your money to work harder for you, with some boasting APYs over 5%.
With the Federal Reserve's recent interest rate hikes, now is the prime time to seize this opportunity for faster financial growth.
Discover how to select the best high-yield savings account for your needs and take the first step toward achieving your financial goals at an accelerated pace!
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The information, statements, and opinions expressed in this video are provided for general information only, and are subject to change without notice. The information does not take into account your particular investment objectives, financial situation and/or needs and is not intended in any way as a recommendation to purchase or sell any security. It does not constitute investment, financial, legal, accounting, tax, or other professional advice. You should consult with professional investment, financial, accounting, tax, legal or other competent advisors before making any investment decisions. The examples, case studies and other references presented should in no way be considered endorsements or investment solicitations. In no way should our programs, courses, videos and marketing material be construed as an offer to invest or a form of marketing.
• The BEST High-Yield Sa...
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Whether you prioritize no minimum balance or seek higher yields with slightly stricter requirements, there's a High-Yield Savings Account to match your needs.
Don’t delay - you can open one of these accounts in less than a minute online.
This is one of the tricks HYSA companies are doing. The comment below is from another HYSA member. If you have any problems with your HYSA company, you should post it online so other people can learn what to watch out for. We need to look out for each other. Thanks.
"Be aware if rates go up, they won’t automatically bump up your rate. I started the 1st HYSA acct then noticed a higher rate advertised later but my rate stayed the same. They simply renamed the newly rated product available to new customers/accts. So I just opened a new account with the higher rate and transferred the balance. Then it happened a second time. So I have 3 accounts, 2 empty and the newest. But if I didn’t happen to check periodically my money would have been sitting earning about a percent lower this whole time."
Thank you!
Thanks for the video! Are these smaller online banks safe to use? I’ve never heard of them.
Make sure they are FDIC secured.
I personally don’t trust the ones so far out of state. They can be FDIC, but the inconvenience of having your money somewhere you don’t know what happened or the bank doesn’t know is a chance I don’t trust. And some of the little known banks with their only online banking?…… too risky for me, AND THEN the HYSA wants you to put five or ten thousand dollars to get that high yield. Just keep in mind what silicon Valley Bank did with people’s money and the inconvenience they went through. 😔😔😔
Do you have any videos about treasury notes? Also is there way to leverage balance transfer cards with these accounts?
I've never heard of any of these. I'm assuming these are U.S. banks, correct?
who did the painting behind you pls?
Great info. Really solid video production. Maybe slap a few acoustic panels on those walls to bring up the audio quality with the video and animation quality.
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.
I think u should go over the bank fee policy. Some of these HYSA have to have a certain amount in them each month. You have to be VERY careful not to be overly generous with your money. 5+% is attractive, but just remember, they are BANKS, and banks are in the business of making money. 🤑🤑🤑
Love the video.
I could not find a HYS account listed on poppy bank’s website… do you have links to these banks?
It's based in California. it is FDIC insured, google returned poppy.bank
I have a credit card with FNBO, is there any advantage to opening a HYSA with them too?
I have been looking for a HYS account that has weekly or monthly automatic deposits. Do any of these that you mentioned have that option? thank you!
This is just my personal experience/opinion - I use Ally, and you do have the ability to set up recurring automatic deposits from your checking/savings accounts into your HYSA. You can set it up weekly, biweekly, monthly, etc. Overall, I've been extremely satisfied with Ally so far.
@@0wlyssa thank you!!
@@0wlyssadid you have any issues with withdrawing money or with the app interface?
Greay video, high-yield savings accounts offer enticing opportunities for savers. But with inflation on the rise, is it time to consider investing those savings for potentially higher returns?
For the long run yes, but kind of as she said in the beginning of the video, this is an option for those who don't want to wait. As of right now, high-yield APY's have been very steady but the investment side of things always fluctuates. In reality, it all just depends on the goals you have.
Do you have similar recommendations for your Canadian viewers?
I've been using EQ bank, not as high interest but higher than traditional bank
TD Bank and others have GIC's at 5% or higher that's what I did with my TD account
Are these US banks
Thank you! Are all of these banks FDIC-insured?
Everbanks website says they are FDIC-insured.
If you live in a state with state income tax, consider Tbills. They are exempt from state income tax. Makes a difference at this interest level.
What about Jenius bank
Is once a year you get paid your interest or once a month?
I believe it’s monthly, but I would check with the specific bank you are looking into.
Feels like scammy commercial to me
Why you never mention Wealthfront or SoFi?
Because it's the best/ sofi is trash
@@AnonDoge why sofi is trash?
Wheat
Did anybody notice its
Dow Janes NOT
Dow Jones.
Sketchy to me!!!!!!!!!😮
Dow Jones is a stock market index. We're Dow Janes because we teach women+ about personal finance. It's just a play on words; we're not claiming to be Dow Jones or trying to make people think we are 😊