As directors of our farm business, my wife and I, aged 55 and 52, are starting our retirement savings journey, aiming to rely on rental income. I'd appreciate a live session to discuss online passive income strategies and achieving a comfortable retirement with a target goal of $3million.
Whether you're earning income through work or investments, the fundamental consideration remains the balance between income and expenses. Considering financial advisors for a strategy that aligns with your timing could be beneficial.
I fully agree. Retiring at 60 with around 1.2 million in non-retirement funds, my debt-free status contrasts with the seemingly modest growth in my retirement accounts over the past three years. Emphasizing the crucial role of an investment advisor, thorough research is essential to find a trustworthy professional.
I collaborate with a specialist, *SHARON LOUISE COUNT* whom I discovered in a CNBC interview. After reaching out, she has offered valuable insights and guidance on my focused securities. You can find more information about her online for additional oversight. I closely follow her strategy and have no regrets.
Thanks for the tip. Finding details about your coach was easy, and I thoroughly researched her before scheduling a call. Her impressive résumé suggests significant expertise, showcasing her proficiency in the field.
Kept $105k in CIT Bank HYSA at 5.05% but i now plan to invest in the stock market. What are your thoughts on that? What stocks should I look out for as a newbie to safely grow my money?
Its best if you buy growth/blue-chip/large caps stocks only. Also, as a newbie its advisable you work with a financial advisor to help set up a well-structured portfolio.
Apt!! I was self-managing my portfolio but suffered heavy losses in 2022 and i knew i couldn't continue like that, so i consulted a fiduciary advisor. By restructuring and diversifying my $250k portfolio with dividend-paying stocks, ETFs, Mutual funds and REITs, I significantly boosted my portfolio, achieving an annualized gain of 25%.
I don't comfortably throw recommendations around on the internet, but I've been working with 'Theresa Dana Peek'. God, she's brilliant! I'm sure there are others who are good.
Thanks for sharing. I curiously searched for her full name and her website popped up after scrolling a bit. I looked through her credentials and did my due diligence before contacting her. Once again many thanks.
At the time of this comment, Discover is doing 4.30% APY and 4.85% on 12mo CD and 5.00% on 18mo CD. No fees or minimum balance. Extremely easy to set up an account too! God bless everyone! 🙏🏽
it's 4.81% during that 6 month period and the next 6 month will be at 3.45% which averages out to 4.125% for the 1 year period. Don't confuse the % rate because it's only effective for 6 months.
Guys, seriously consider opening a US Treasury account and purchasing T-Bills. There are some max limits and you have to actively purchase TBills, but their rates are comparable (better even) to what she's presented here, but only half taxed (can't remember whether it's state or fed tax exempt). Flexible terms from like 4 - 26 weeks. Also, I-Bonds maybe worth it as the rate will be tagged to the inflation rate, but there are some w/drawl rules (can't touch your money for 1 yr and there's a penalty if you w/draw w/in 5 years I think)
Sorry if this is a silly question. I was never really taught finances and I’m trying to learn now. Would you recommend using these instead of a typical savings account by a bank?
Without a question, investing is a smart approach to increase and save your money. Before investing, you don't need to have much money. If you make good investments with the little money you have right now, you could become rich. It doesn't matter if you don't have any of them right now; you can start TODAY regardless of your age to invest and change your future. I wasn't financially free until my 40s, and I'm still in my 40s. I've bought my second house, earn on a monthly basis through passive income, and achieved 4 out of 5 goals. Investments are a wise decision I made.
I strongly endorse the services of Regina Louise Collaro, a US-based financial advisor and consultant. Partnering with an international organization, she has been instrumental in guiding my financial journey with unwavering support until my goals are met. Selecting the right financial consultant is as crucial as finding the right life partner, as both can significantly impact your life's trajectory. I'm grateful to have found the perfect financial consultant who has helped me achieve my financial objectives, from education to nearing retirement
I value your recommendations. It's challenging to locate a trustworthy person. I could really use your investment advisor after seeing how much money you've made through investing. If you don't mind revealing her information, that is.
It's surprising to come across Regina Louise Collaro's name here. I've always been uncertain about hiring an investment advisor. Just to clarify, I began collaborating with Regina in 2019. She oversees around 70% of my investments, leaving me with the remaining 30%. My stance has always been that I prioritize my own finances, but she has convinced me of her extensive knowledge regarding present circumstances and upcoming trends
I’m doing capital one. Now it’s 3.4%. U might wanna mention that these rates are variable. I chose them because I trust them and I had already had a checking with them. Also i put some extra money in a 11 month cd for 5%
Hey Gabe, I have $20k of savings on my Bank of America and planning to put all of this money on a savings account. Do you recommend capital one? Thanks
I use Cap1 too and I'm looking for a 2nd one in addition to that. Cap1 has been good plus I have a credit card w/ them and the shopping app so it's nice to have it all in the same place.
I'm getting 5.20% with daily deposits and monthly payouts. Y'all better learn quickly, you can do better. I had Capitol one but 5.20% is way better than the 4% they are offering.
I've had the Synchrony HYSA one for three months. It has automatically adjusted to the continually rising interest rates. Great clean experience so far. Opened an additional CD without hassle too.
I opened my first HY savings account at CIT Bank. So far I like it. I just got a text that said my rate is now 3.8%! Up from 3.6%. I did need $100 to open it. I have an automatic from my checking at BofA going into CIT every month. The only thing I don’t like is it takes forever for my deposits to show in my balance.
Same experience here. I also use CIT Bank, and while it takes several business days for your deposit to reflect in your available balance, I believe your “current” balance shows 1-2 business days after your initial transfer, which interest starts accruing from that day (even though your deposit is not shown as available).
Same as me CIT took so much days to the deposit reach it, I use Current Bank at 4.00% maximum Deposit $4k , UFB Bank at 4.11 % and Affinity Savings Account
Long-time watcher, first-time commenter! This year, I turned 26 and figured it's time to conquer my fear of moving money out of the regular, ol' savings account my parents opened up for me when I was 12. This year, that savings account hit $15k. Today, I moved $10k into Ally's online savings account and the remaining $5k into different high-yield CDs. I still have a lot to learn and some spending habits to kick, but I feel more confident about personal finance thanks to you!
Also my advise would be to learn about investing. Invest as soon as you can! Keep at least 1 year salary in a high yield account and the rest invest it.
Make sure your money is somewhere you feel is safe! Check out American Express… also your local credit union is a great place to save. Remember it stays locally!
@@estherduran6918 don't be scared. This is legit bank. Nothing to be scared about really. Have been with them many years with lots of transactions between other external bank accounts linked to Ally Bank. Have had no problems moving money in and out in numerous transactions.
Banks descriptions start at 6:02 Some others to consider: MySavings Direct - 4.35% PNC - 4.00% La Capitol Credit Union - 4.25% (up to $3,000 and 2.67% $3,000-$10,000)
You must had $40-45k for return of $1,651. Even high yield accounts don't amount to much vs putting it into house improvements that apprase better. An emergency fund in the bank isn't that easy to get to. Our area went dark and there was no access to get 5k or $10k. All that to save $250 in 4% yield. Rely on a high end credit card and cash in the safe for emergency.
@@budgetwithshelly No, 40-50k is correct. She said in 1 year. Not per month. So if you have 10k in Cap 1 right now, youre making 340 a year. If you have 50k, you're making 1700 a year.
Hi - 4 months late to the party here. I recently changed banks to Wealthfront and getting 4.3% , which is fantastic for a CHECKING account! not savings. Right now, i use it to save up for my high monthly Rent Housing payment. But soon need to work on the Emergency Fund.
Great video! I use Navy Federal Credit Union and get 4.25% on their certificate accounts. I have several for money that I'm not touching for 12 months. Other money that is being used sits in multiple Capital One savings accounts. I also shift money around for the bank bonuses.. I just opened a American Express Business account for 60k MR points after 60 days with a 5k balance and some qualifying transactions 😍
I never really comment on youtube videos unless I LOVE IT, and I loved this video because I learn so much buttttttt you have a KIDS BOOK FOR teaching them how to invest and how to use the money! I LOVE IT!!! I'm sending it to all my friends with kids!
Folks, currently with the Digital Federal Credit Union their savings APY is currently at 6.17% "on the 1st one thousand dollars" - for any amount above one thousand, the rate is 0.15%.
The problem with accounts like Ally is that you cannot maintain an account while living overseas. So can someone please tell me which accounts are easy to keep while being retired overseas?
I haven't seen anyone comment on the Discover savings account bonus. They are offering $150-200 bonus when you open and fund your account, with bonus amount depending on how much you deposit. I have had a Discover card for a super long time. It's my favorite of all of my 5 cards I use because the website is easy and customer service has been the best of any I've had. So I'm hoping my experience with the high yield savings is equally impressive. Just created my account the other day.
Just closed my 0.01% savings with Wells Fargo, and opened an account with Ally! :) I’m super excited. Planning on opening a different account with a higher percentage for my son’s college fund. :) Do you have any suggestion for that?
Hello , I have BOA account the reason I opened there is they didn’t ask SSN , are these banks you mentioned the same ? I am not a US resident and I want to keep my money abroad , could you please advice me ? I will travel to the US after 10 days and I want to be ready for that . Many thanks in advance
I have a good amount of money sitting in a checking's account in one of these big banks. would it be wise to take this money and open multiple high yield account? or should I stick to one? I'm thinking of going with one of the last two, but I do like the bucket feature of the other ones.
Me personally it would be smart to open up 1 or 3 because you never know what will happen to that 1 bank you opened up your savings account with even tho you automatically got insurance on your money when opening up your savings account... open up 3 to be on the extra safe side... good luck go get the bag 💪🏼💯
Titan app offers 5% (may have changed by the time you read this) for transferring > $10,000. Robinhood offers 4.6% as of today on their Gold membership.
I opened an account w SoFi and found out they don’t have this feature available, which is unfortunate. So I’m having to research another HY Savings to transfer over to with this feature which is very important to me.
I have a synchrony high yield savings account that I started back in 2018 it currently only has $47 in it do to the money earned over the years and the few low dollar transfers I made to the account...my question is if the interest rate I pay is 3.686% and the APY is 3.75% is it worth it to keep putting money into the account. I feel like what ever I earn will be cut short do to the interest rate and APY almost being equal. Any clarity that can be brought to this is highly appreciated.
❤ hi Justine you are so amazing & thank you for such power house insight about these savings accounts & for all your hard work in doing the research! I'm so grateful for you & I really & truly APPRECIATE YOU ❤
@@unwaveringessence highest risk of failure according to surveys based on there balance sheet, this is by multiple analysts. It’s up there with credit suisse.
Great show. I'm retired and always looking for good interest producing savings. Your show is down to earth and practical. Thanks for researching these banks/Credit unions, etc. That is very hard work. You asked about Synchrony Bank. I deposited $40,000 there in 2018 at 2.5% (pretty good at that time). I would give their services about 3 Stars of 5 Stars. Main reason is they seem to be a bit hard for me to work with online for support i.e. change password or change beneficiary for my children on my account. But they currently are paying 4% -- GREAT INTEREST as you pointed out....
Ally has a 1.08 out of 5 star rating. CIT has a 1.13 out of 5 star rating Synchrony has a 1.05 out of 5 star rating America First Credit Union has a 1.63 out of 5 star rating. Online only banks have their problems, including but not limited to terms and conditions that they do not disclose, change, or may disadvantage you, no tracking on if these "banks" are really FDIC insured or just use the logo for marketing purposes, and no tracking about WHERE these banks are and who funds them. It is possible that one or more of these online banks could have run and declare bankruptcy where your money may be tied up for years. There's also the possibility that some might be fronts for organized crime. Remember FDIC insures ONLY what you have deposited, not the value plus interest. Even in the best possible cases, should one of these collapse, you may get your initial deposit back alone, eventually.
Hi I noticed that American First Credit Union has stipulations in order to become a member. Does that apply to the high yield savings account. I can't seem to find the HYSA on their website ... I also found Western Alliance Bank w/no fees, $1. minimum deposit, 4.23% APY* High-Yield savings account😁
6:03 Ally Bank
7:10 Capitol One
7:58 CIT
9:12 Synchrony
10:30 American First Credit Union
11:41 UFB Direct
Thanks 👍
As directors of our farm business, my wife and I, aged 55 and 52, are starting our retirement savings journey, aiming to rely on rental income. I'd appreciate a live session to discuss online passive income strategies and achieving a comfortable retirement with a target goal of $3million.
Whether you're earning income through work or investments, the fundamental consideration remains the balance between income and expenses. Considering financial advisors for a strategy that aligns with your timing could be beneficial.
I fully agree. Retiring at 60 with around 1.2 million in non-retirement funds, my debt-free status contrasts with the seemingly modest growth in my retirement accounts over the past three years. Emphasizing the crucial role of an investment advisor, thorough research is essential to find a trustworthy professional.
Impressive! Could you share details about your financial advisor? I'm looking to improve my finances and exploring options would be valuable.
I collaborate with a specialist, *SHARON LOUISE COUNT* whom I discovered in a CNBC interview. After reaching out, she has offered valuable insights and guidance on my focused securities. You can find more information about her online for additional oversight. I closely follow her strategy and have no regrets.
Thanks for the tip. Finding details about your coach was easy, and I thoroughly researched her before scheduling a call. Her impressive résumé suggests significant expertise, showcasing her proficiency in the field.
Kept $105k in CIT Bank HYSA at 5.05% but i now plan to invest in the stock market. What are your thoughts on that? What stocks should I look out for as a newbie to safely grow my money?
Its best if you buy growth/blue-chip/large caps stocks only. Also, as a newbie its advisable you work with a financial advisor to help set up a well-structured portfolio.
Apt!! I was self-managing my portfolio but suffered heavy losses in 2022 and i knew i couldn't continue like that, so i consulted a fiduciary advisor. By restructuring and diversifying my $250k portfolio with dividend-paying stocks, ETFs, Mutual funds and REITs, I significantly boosted my portfolio, achieving an annualized gain of 25%.
Impressive! How can I contact this advisor? My portfolio has underperformed, and I need guidance.
I don't comfortably throw recommendations around on the internet, but I've been working with 'Theresa Dana Peek'. God, she's brilliant! I'm sure there are others who are good.
Thanks for sharing. I curiously searched for her full name and her website popped up after scrolling a bit. I looked through her credentials and did my due diligence before contacting her. Once again many thanks.
At the time of this comment, Discover is doing 4.30% APY and 4.85% on 12mo CD and 5.00% on 18mo CD. No fees or minimum balance. Extremely easy to set up an account too! God bless everyone! 🙏🏽
I-Bonds are currently paying 9.62% if you don’t mind having some of your cash tied up for one year, just saying.
I also got an Ibond at 9.62%...but Ibonds are now down to 7%(?). Still not bad. Also limited to $10,000
it's 4.81% during that 6 month period and the next 6 month will be at 3.45% which averages out to 4.125% for the 1 year period. Don't confuse the % rate because it's only effective for 6 months.
Is this % Monthly?
@@chichicastepicon8577 9.62 is over one year…
Great video
You might want to mention if these are FDIC insured accounts too. Great video. I wish I had be as savvy about money when I was your age!
Guys, seriously consider opening a US Treasury account and purchasing T-Bills. There are some max limits and you have to actively purchase TBills, but their rates are comparable (better even) to what she's presented here, but only half taxed (can't remember whether it's state or fed tax exempt). Flexible terms from like 4 - 26 weeks. Also, I-Bonds maybe worth it as the rate will be tagged to the inflation rate, but there are some w/drawl rules (can't touch your money for 1 yr and there's a penalty if you w/draw w/in 5 years I think)
Sorry if this is a silly question. I was never really taught finances and I’m trying to learn now. Would you recommend using these instead of a typical savings account by a bank?
Yes
YES
Yes
Yes
Without a question, investing is a smart approach to increase and save your money. Before investing, you don't need to have much money. If you make good investments with the little money you have right now, you could become rich. It doesn't matter if you don't have any of them right now; you can start TODAY regardless of your age to invest and change your future. I wasn't financially free until my 40s, and I'm still in my 40s. I've bought my second house, earn on a monthly basis through passive income, and achieved 4 out of 5 goals. Investments are a wise decision I made.
I would be happy if you could advise me, as I am ready to go the passive income path.
I strongly endorse the services of Regina Louise Collaro, a US-based financial advisor and consultant. Partnering with an international organization, she has been instrumental in guiding my financial journey with unwavering support until my goals are met. Selecting the right financial consultant is as crucial as finding the right life partner, as both can significantly impact your life's trajectory. I'm grateful to have found the perfect financial consultant who has helped me achieve my financial objectives, from education to nearing retirement
I value your recommendations. It's challenging to locate a trustworthy person. I could really use your investment advisor after seeing how much money you've made through investing. If you don't mind revealing her information, that is.
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.
It's surprising to come across Regina Louise Collaro's name here. I've always been uncertain about hiring an investment advisor. Just to clarify, I began collaborating with Regina in 2019. She oversees around 70% of my investments, leaving me with the remaining 30%. My stance has always been that I prioritize my own finances, but she has convinced me of her extensive knowledge regarding present circumstances and upcoming trends
You are gorgeous. How would I deposit money into an online bank? Do I transfer from my physical bank?
Sofi is 3.5% on savings and 2.5% on checking if you have direct deposit and 1.5% if you dont. No monthly fees and no minimum balance is required.
US Treasury is 4.5% with 26 week T-bills, and state/local tax free. Hold at brokerage so in emergency you can withdraw cash via margin loan.
I like SoFi 👍
I’m doing capital one. Now it’s 3.4%. U might wanna mention that these rates are variable. I chose them because I trust them and I had already had a checking with them. Also i put some extra money in a 11 month cd for 5%
Hey Gabe, I have $20k of savings on my Bank of America and planning to put all of this money on a savings account. Do you recommend capital one? Thanks
@@Alberto_-fe8be discover is a good option too. its currently at 3.5%
Is this interest every month for 11 months or just for the 11 months
I use Cap1 too and I'm looking for a 2nd one in addition to that. Cap1 has been good plus I have a credit card w/ them and the shopping app so it's nice to have it all in the same place.
I'm getting 5.20% with daily deposits and monthly payouts. Y'all better learn quickly, you can do better. I had Capitol one but 5.20% is way better than the 4% they are offering.
What about Discover, AmEx, SoFi, Laurel Road or Apple?
I've had the Synchrony HYSA one for three months. It has automatically adjusted to the continually rising interest rates. Great clean experience so far. Opened an additional CD without hassle too.
Amazing, i have the same account as well. As of now they paying 4.01% on their High yield saving account. 03/10/2023
I just love it
awesome to hear
I like Synchrony and Bread financial
Is Bread Financial legit?
I love the buckets feature in Ally, but love the 3.60% APY with CIT. I'm TORN
Ally just increased to 3.75%!!
I've worked with Synchrony Bank before. In my experience, their customer service was horrendous.
Knowledge is power! I am enlightened. BIG thumbs Up. Thinking of ways to invest. Don’t know where to start.
Capital One went up to 3.3% just earlier today. I'm Sure Ally will follow suit. Great video!
Dang! That's awesome!!
Yes as of 1/3/2023 Ally is also at 3.3%.
Bask bank hys is at 4.03% right now. Can’t imagine having a balance in a big bank savings making nothing.
Great video for people unable to type “High interest Online Savings accounts” into a search engine.
I opened my first HY savings account at CIT Bank. So far I like it. I just got a text that said my rate is now 3.8%! Up from 3.6%. I did need $100 to open it. I have an automatic from my checking at BofA going into CIT every month. The only thing I don’t like is it takes forever for my deposits to show in my balance.
Same experience here. I also use CIT Bank, and while it takes several business days for your deposit to reflect in your available balance, I believe your “current” balance shows 1-2 business days after your initial transfer, which interest starts accruing from that day (even though your deposit is not shown as available).
Same as me CIT took so much days to the deposit reach it, I use Current Bank at 4.00% maximum Deposit $4k , UFB Bank at 4.11 % and Affinity Savings Account
when I got to CIT Bank's website it re-directs me to First Citizens and the only savings accounts I can find are only paying .03% APY.
I'm curious to know why you use more than one bank for savings? No offense intended
@@dnlp89 I’m using it to save money that I used to put in my sons 529 acct. I will give this money to him later.
*You fail to mention--that the interest from your principal--is subject to taxation--as such is much less after paid taxes.*
I have an Apple high yield savings 4.4. Capital One 2.2, and Fidelity 4.9.
What is an i b ond and where do you buy it?
Long-time watcher, first-time commenter! This year, I turned 26 and figured it's time to conquer my fear of moving money out of the regular, ol' savings account my parents opened up for me when I was 12.
This year, that savings account hit $15k. Today, I moved $10k into Ally's online savings account and the remaining $5k into different high-yield CDs.
I still have a lot to learn and some spending habits to kick, but I feel more confident about personal finance thanks to you!
Congrats! I just turned 18 and I’m trying to figure out what to do.
Also my advise would be to learn about investing. Invest as soon as you can! Keep at least 1 year salary in a high yield account and the rest invest it.
@@shomst7904 22 and still trying to figure it out I want to do Ally but I am scared lol
Make sure your money is somewhere you feel is safe! Check out American Express… also your local credit union is a great place to save. Remember it stays locally!
@@estherduran6918 don't be scared. This is legit bank. Nothing to be scared about really. Have been with them many years with lots of transactions between other external bank accounts linked to Ally Bank. Have had no problems moving money in and out in numerous transactions.
Thanks so much for this video. I just opened a Wells Fargo, but co soldered Bank of America but i couldn’t believe their interest rates.
Dude then you have to check out my 3 worst banks in America video. 🤯
I use Upgrade. They currently have 4.13%APY on $1,000 or more.
Might try them or Marcus
Banks descriptions start at 6:02
Some others to consider:
MySavings Direct - 4.35%
PNC - 4.00%
La Capitol Credit Union - 4.25% (up to $3,000 and 2.67% $3,000-$10,000)
PNC is not 4%. it is one of the lowest ...0.04%
LOL you beat me to it. I just recorded a video talking about this subject yesterday!
Pnc does offer 4% but it’s based on specific zip codes
@@river_a Oh yeah which one? Manhattan?
Any info on Citizens access bank?
Do you have to pay taxes on it as earned income? How does that impact the overall amount?
You'll get a 1099-INT for interest income earned and will need to file that with your taxes
You must had $40-45k for return of $1,651. Even high yield accounts don't amount to much vs putting it into house improvements that apprase better. An emergency fund in the bank isn't that easy to get to. Our area went dark and there was no access to get 5k or $10k. All that to save $250 in 4% yield. Rely on a high end credit card and cash in the safe for emergency.
Wayyyyyyy more than that. I have 3.4% at Cap 1 and on 10k I bring in $30.00 per month. 🤔
@@budgetwithshelly No, 40-50k is correct. She said in 1 year. Not per month. So if you have 10k in Cap 1 right now, youre making 340 a year. If you have 50k, you're making 1700 a year.
Cit is paying 4.75% rn. For 5k plus. My home down payment is in there.
I bank with Discover Bank, and I've been with them for over 1 year. When I started with them they're savings apr was .4% now it's at 3%.
Yeah, Discover has been on my watchlist too!
Thank you!! So true USAA treats service members like dirt. I wasted 21yrs with them!!
its sad...it wasn't always that way..
American Express Savings 4.30%
Apple savings 4.15%
You omitted some with higher yield, which is preferable than having buckets IMO.
A friend just told me about Bask Bank. No fees and 5 Percent!!! Never seen one beat, that. I'm probably going with them soon.
I almost opened an account with Chase and or Bank of America Yesterday. I will go with Capital One.
Hi - 4 months late to the party here. I recently changed banks to Wealthfront and getting 4.3% , which is fantastic for a CHECKING account! not savings. Right now, i use it to save up for my high monthly Rent Housing payment. But soon need to work on the Emergency Fund.
i was surprised that Sofi wasnt mentioned. Any thoughts/experiences with Sofi?
I'm with Credit karma and it's 4.10 APY. Why didn't you add them?
Thank you for the video , is the APY per year ? Thanks
Yes it is APY= annual percentage yield
Brick and mortar for checking makes sense when you work for cash tips. Depositing crumbled bills into an atm is not fun.
Capital one 360 does not offer a buckets like feature.You have to open multiple accounts if you wanna keep it all separate
I want to go with Capital One.
Loved this video! I have Cap360 and want a second high yield account.
I heard people complain about CIT Bank customer service
Buy US Treasuries at a brokerage, a 6-month CD is yielding about 4.7 to 4.84%.
Great video! I use Navy Federal Credit Union and get 4.25% on their certificate accounts. I have several for money that I'm not touching for 12 months. Other money that is being used sits in multiple Capital One savings accounts. I also shift money around for the bank bonuses.. I just opened a American Express Business account for 60k MR points after 60 days with a 5k balance and some qualifying transactions 😍
I hate their compound interest rates they're trash but when it comes to credit cards and auto loans they are good.
Im with PNC…money market fund..no complaints!
What do you think about American Express saving account? I heard it give high apy
why didn't you talk about FDIC insurance on these banks???
I never really comment on youtube videos unless I LOVE IT, and I loved this video because I learn so much buttttttt you have a KIDS BOOK FOR teaching them how to invest and how to use the money! I LOVE IT!!! I'm sending it to all my friends with kids!
Great video. Cap 1 is now at 3.3%APY
Folks, currently with the Digital Federal Credit Union their savings APY is currently at 6.17% "on the 1st one thousand dollars" - for any amount above one thousand, the rate is 0.15%.
The problem with accounts like Ally is that you cannot maintain an account while living overseas. So can someone please tell me which accounts are easy to keep while being retired overseas?
How often is that interest paid? Monthly/yearly??
It's paid out monthly!
What about PNC high yield savings account ?
I went with Morgan Stanley. They offer a preferred savings account at 4% APY?
2 weeks later and my Capital One 360 savings accounts are at 3.3%!
I haven't seen anyone comment on the Discover savings account bonus. They are offering $150-200 bonus when you open and fund your account, with bonus amount depending on how much you deposit. I have had a Discover card for a super long time. It's my favorite of all of my 5 cards I use because the website is easy and customer service has been the best of any I've had. So I'm hoping my experience with the high yield savings is equally impressive. Just created my account the other day.
I love Barclays. My gf has capital one 360 they are at 3.3% now she loves it.
Nice!!
A bank has to be trustworthy not just FDIC insured.
trustworthy bank = oxymoron
Thank you so much for 👩🏻🏫
Thank you! This was a very helpful video.
Just closed my 0.01% savings with Wells Fargo, and opened an account with Ally! :) I’m super excited.
Planning on opening a different account with a higher percentage for my son’s college fund. :)
Do you have any suggestion for that?
I talk about 529 plans and where to open one here: ua-cam.com/video/B2e_AuaTSCM/v-deo.html
Hello ,
I have BOA account the reason I opened there is they didn’t ask SSN , are these banks you mentioned the same ? I am not a US resident and I want to keep my money abroad , could you please advice me ? I will travel to the US after 10 days and I want to be ready for that .
Many thanks in advance
what do you think about PNC bank? they are 4% as well
So if i add 20k to at 4.86% APY, does that mean i will get + 4.86% of the total per month or per year (Divided by 12)?
Primis Bank offers 5% on checking and savings.
I have a good amount of money sitting in a checking's account in one of these big banks. would it be wise to take this money and open multiple high yield account? or should I stick to one? I'm thinking of going with one of the last two, but I do like the bucket feature of the other ones.
Me personally it would be smart to open up 1 or 3 because you never know what will happen to that 1 bank you opened up your savings account with even tho you automatically got insurance on your money when opening up your savings account... open up 3 to be on the extra safe side... good luck go get the bag 💪🏼💯
Have you researched BASK BANK?
Credit Karma offers a free savings account with no minimum deposit, no fees and right now the APY is 3.50%
4.25 % is what Vanguard is paying on there savings account ❤
Can someone confirm if we can use Zelle with the Ally's savings account?
Titan app offers 5% (may have changed by the time you read this) for transferring > $10,000. Robinhood offers 4.6% as of today on their Gold membership.
i love Capital one i get $14 monthly in my savings account.Lovely video.
It seems like there must be a catch with the AFCU one? Am I wrong?
Thank you!
Can you do a video on “my savings direct” please thank you !
Synchrony is pretty good. I have been using them as my emergency fund for last couple of years. My interest rate is now 3.81%.
That's awesome!
I love the way you explain things!!
I have PNC growth @ 4% APY beginning last month.
❤
SoFi doesn't allow you to designate a beneficary in case of your death. Make sure you can before opening any account.
I opened an account w SoFi and found out they don’t have this feature available, which is unfortunate. So I’m having to research another HY Savings to transfer over to with this feature which is very important to me.
I didn't know that but just opened with them a week or so ago. Lol. Good to know. I'm young but it's good to have a plan regardless.
I have a synchrony high yield savings account that I started back in 2018 it currently only has $47 in it do to the money earned over the years and the few low dollar transfers I made to the account...my question is if the interest rate I pay is 3.686% and the APY is 3.75% is it worth it to keep putting money into the account. I feel like what ever I earn will be cut short do to the interest rate and APY almost being equal. Any clarity that can be brought to this is highly appreciated.
M1 finance announced that they are launching a high yield savings account early in 2023 that will yield 4.50% for M1 plus members
DiscoverCard as of 01/03/23 is at 3.25%
❤ hi Justine you are so amazing & thank you for such power house insight about these savings accounts & for all your hard work in doing the research! I'm so grateful for you & I really & truly APPRECIATE YOU ❤
what the best bank? i need to do a 200k, thanks
Also use Ally, I find it comforting for older family members when they learn they were GMAC which they have heard of
American Express currently has 3.0% or more
I would like to open a yield account to save up money for a year but will it be easy for my to get my money out all at once ?
Ally bank is considering the highest risk bank at the moment
How come
@@unwaveringessence highest risk of failure according to surveys based on there balance sheet, this is by multiple analysts. It’s up there with credit suisse.
@@DsonicJ5672 that's what I hear too...but it's FDIC insured, so we should be okay
Great show. I'm retired and always looking for good interest producing savings. Your show is down to earth and practical. Thanks for researching these banks/Credit unions, etc. That is very hard work. You asked about Synchrony Bank. I deposited $40,000 there in 2018 at 2.5% (pretty good at that time). I would give their services about 3 Stars of 5 Stars. Main reason is they seem to be a bit hard for me to work with online for support i.e. change password or change beneficiary for my children on my account. But they currently are paying 4% -- GREAT INTEREST as you pointed out....
Is the interest earned taxable income ?
Yes. Interest income is generally taxable.
I opened my hysa with American Express at a 3.30 % apy.
NICE!
American Express also offers safe high yield savings … without the sketchy websites!
Ally has a 1.08 out of 5 star rating.
CIT has a 1.13 out of 5 star rating
Synchrony has a 1.05 out of 5 star rating
America First Credit Union has a 1.63 out of 5 star rating.
Online only banks have their problems, including but not limited to terms and conditions that they do not disclose, change, or may disadvantage you, no tracking on if these "banks" are really FDIC insured or just use the logo for marketing purposes, and no tracking about WHERE these banks are and who funds them. It is possible that one or more of these online banks could have run and declare bankruptcy where your money may be tied up for years. There's also the possibility that some might be fronts for organized crime. Remember FDIC insures ONLY what you have deposited, not the value plus interest. Even in the best possible cases, should one of these collapse, you may get your initial deposit back alone, eventually.
Ally Ben great for me, & great service
What are these "ratings" for specifically? And how would the mainstream banks like BoA, CapitalOne, TD compare?
@@dtsect "What are these "ratings" for specifically?" Counsumer reviews.
I try not to post negative replies, but please, cite your sources on this one.
@@josephmaschak8652 I think frosted1030 got them from BBB website. I had to google it myself because I was also curious like you are.
Hi I noticed that American First Credit Union has stipulations in order to become a member. Does that apply to the high yield savings account. I can't seem to find the HYSA on their website ... I also found Western Alliance Bank w/no fees, $1. minimum deposit, 4.23% APY* High-Yield savings account😁
Great information
and how much did you park to get those $1651.07?
RobinHood pays 4% with Gold membership