I have my emergency fund in a high yield savings account with Synchrony Bank. I'm getting 4.75% APY right now.
@SharenaHartley
3 ай бұрын
I just opened my high yield account
@johnmate4260
6 ай бұрын
I have a few, and that’s the only way to SAVE. I have different types of investments as well, so all my eggs are not in one basket!!! Good looking, Anthony.✊🏾
@wildwoman2520
6 ай бұрын
If you have more that 250,000 you need an account for every 250,000. FDIC is not insuring an account with more than 250,000
@anthonywilliams9415
6 ай бұрын
SoFi bank
@bibleisholy7170
3 ай бұрын
What’s chances Amex goes bankrupt? Also what’s chances fdic doesn’t cover over $250k - as they did in 2023
@juicyd5910
6 ай бұрын
I use the savings account that came with my Apple Card. If you’re able to get approved for Apple Card, you can keep your savings in their account that pays 4.5%APY. The account has a routing and account number so you can do things as you would a normal bank.
@LayKxD
6 ай бұрын
I have an Apple Card and didn’t know this. Is it in the app?
@juicyd5910
6 ай бұрын
Yeah! I had my Apple Card for 4 months and didn’t know it. You gotta find it in the wallet app and open the savings account. Once you do it, all your cash back from your spending will automatically go there instead of Apple Cash. Then you’re collecting interest on it
@chelseamurray1678
3 ай бұрын
Just opened one 5% is not bad
@serf8535
6 ай бұрын
Should I use the interest made put in Roth account?
@ryanclark9730
6 ай бұрын
Are their any in particular you might recommend?
@quinterrieblack8218
6 ай бұрын
Ikr
@calebhardin1750
6 ай бұрын
@quinterrieblack8218 Sofi if you're ok with setting up direct deposit through your job. It is the best interest rate you're gonna find
@cyntstancil4561
6 ай бұрын
He recommends SOFI a lot But there is Discover,Amex,Apple,Wealthfront,Capital One,Ally just name a few
@elevatetoelevatellc5793
6 ай бұрын
Marcus by Goldman Sachs
@serf8535
6 ай бұрын
Synchrony Bank
@anajay8172
6 ай бұрын
Can you teach me which examples of high yield accounts. Thank you, and sorry I dont know anything. Plus, I dont havectaht much cash. How much do we need to apply for one.
@evandorniden4649
6 ай бұрын
You don’t need a ton to apply for most. They’re just regular savings accounts that pay way better interest than your typical banks that give you nothing.
@inquisitiveferret5690
6 ай бұрын
I recommend shopping around to find what suits your needs. Your bank or credit union may have someone to consult on financial planning for free. I decide to park mine in a Capital One 360 account. Right now there are no minimums or fees and it offers 4.35% APY interest on whatever you have in it.
@mrssap8603
6 ай бұрын
I want to park $100k somewhere for 6 months. Is this what is recommended?
@serf8535
6 ай бұрын
You will make money.
@Naija_baba
6 ай бұрын
Former banker here: High Yield Savings accounts ONLY makes sense if you're putting in at least 200k and leave for 3 years or more. Other than that, you not generating enough return on the interest you are getting to offset inflation...and i dont recommend putting anything over 100k in any account, should the bank fail Anything above 100k is not insured.
@cherylbroadenax1006
6 ай бұрын
Bank gave .01 percent. High yield bank 4.5%. Hum!!! So the 250k is not covered by fdic any more? Would like to know.
@teecee9926
5 ай бұрын
So what would you suggest instead?
@Naija_baba
5 ай бұрын
@@teecee9926 put it into Roth ira...buy some etfs, stocks, or bonds.
@edgarvl9484
4 ай бұрын
FDIC does not cover should I bank fail over 100K? You were a banker of what country?
@Kipketer911
3 ай бұрын
Hi there, you as a former banker are bad at math. Interest rates give the same return on money whether is it’s $10,000 or $100,000. The interest rate is what it is so your comment is bizarre
@allisterw9
6 ай бұрын
That’s it tho not saying I’m rich but only that amount that means if the bank tanks and you have more you lose out
@mateoort4187
3 ай бұрын
Any recommendations?
@everythingjamaican352
6 ай бұрын
I have because you thought me well
@beasleydonita
6 ай бұрын
I have a couple
@mauricebanks4761
6 ай бұрын
Yes, I have a Bask HYSA😃👍🏾💲
@staceywilliams4733
6 ай бұрын
How can I get this
@ReadEphesians612
6 ай бұрын
I have a money market account.
@jovanpatterson9458
3 ай бұрын
I don’t have one
@mrssap8603
6 ай бұрын
What's the downside of having this account?
@MsVee-nc5kd
6 ай бұрын
Having to pay taxes on the interest earned.
@serf8535
6 ай бұрын
Don't put over 100k. Bank will only insure up to that amount.
@Kipketer911
3 ай бұрын
@@serf8535false
@mr.a.t.mcmillan5715
3 ай бұрын
@@serf8535 .......where are you banking??? All U.S. banks insure your money up to 250k
@jaylytes3400
6 ай бұрын
I have one with betterment
@b.l.wilson9724
6 ай бұрын
Not yet. I’m working on it. I bank with credit unions, do they good high yield savings accounts?
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