In order to get the 4.60% at SoFi, you have to sign up for direct deposit. If you don't, then you have to deposit at least 5k every 30 days. Why he doesn't tell people this, I don't know. Makes me wonder what the hoops are on the others that he's not mentioning.
I began my investment journey at the age of 33, primarily through hard work and dedication. Now at the age of 58, I am thrilled to share that my passive income exceeded $100k in a single month for the first time. This success reinforces the importance of the advice mentioned earlier. It is not about achieving quick wealth, but rather ensuring long-term financial prosperity.
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $2m with the help of my advisor from an initial $350k investment.
"Gertrude Margaret Quinto" is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment
Insightful... I was curious about her, so I looked her up online. I discovered her website, and I must say that she seems knowledgeable. I sent her an email outlining my goals. I appreciate you sharing.
Best account is always the one not shown. Acorns has savings at 5% apy and an additional 3% in checking which is a total of 8% of all your money which is a no brainer plus they have early pay custodial accounts and a 3% Ira match not sure why he never mentions acorns.
I’m a teen looking to create a secondary savings account. When it comes to the sofi sign in bonus, does the direct deposit amount mean the amount of money that is being transferred to that account from let’s say another savings account or does it mean direct deposit in the sense of income from a job? Love your videos man keep it up
Minimum direct deposit of $1000 per month from a source of income, like your job. It’s really good you’re starting this early btw. Don’t get yourself in debt. Don’t chase the extravagant lifestyle. Build your credit and invest early. Good luck.
Thank you for explaining the UFB DIrect HYSA so well! I was under the impression is was just 5.45% but after watching your video I now understant that it is 5.25% and that we can do other things to reach 5.45%. Do we have to do all 3 things together or can you just do 2 out of 3 to get an extra 0.15% instead of the 0.2% we get for doing all three things?
Any issues with customer service? I looked up and saw that as one of the top 2 issues...so ive been scared away from using them even though i wanted that rate pretty badly
Hey there! I looked DEEP into this. It MUST be direct deposited from an employer, social security, etc…NOT deposited by the money you already have from another account. So unless you’re making 5k in a month, you cannot qualify for this
Why Don't you mention, once again, that you need to like deposit about 5k per month for the interest rate benefits for sofi? Seems very bias, almost like you are pushing for this one
I just did that two weeks ago. You can do a external transfer from your bank. Your bank should do two "test" transfers usually like .50 or less. My bank did that and all was good. The first transfer will take a few days (have patience 😊). After that you are good to go! Hope this helps.
Hey guys im a 20 year old and im trying to learn about this type of stuff does anybody in the older generation know which saving account i should choose. I would listen to the video but i want a more “person to person” response .
1. Wealthfront is a broker, not a bank 2. Wealthfront has no physical locations 3. Wealthfront has virtually no customer service. I can't even find a phone number. 4. The bank on the backend of Wealthfront is Green Dot.. eww There are other cons, but these alone are good reasons why it is not in the top five.. or even the top ten imo.
I just had a serious question, I’m using an USAA checkings account, I don’t have a savings account but I wanna start saving using another bank, how would I transfer the money from my USAA to SOFI to put into my savings?
Once you open the sofi account you can add (link) your existing account. And transfer it over. You will need your bank routing number and your account number to link it.
A bit late reply but most places only let you get an independent savings account once you’re 18. Otherwise you’ll need a guardian/parent to open one. Nevertheless, if you are able to it is not a bad idea at all. The first few years in a savings account are when you will feel the least gains from it, since you are laying a foundation for future growth. But by the same logic, the sooner you start, the sooner you can make the most gains from a savings account. So if you are able to, open one.
Exactly. I'm very comfortable sticking with my local state credit union that I've been with since day one. They only pay me 3% in my HYSA but I think the peace of mind I have that I'll never have problems with my money is worth it.
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
Agreed, having a good financial advisor is invaluable, my portfolio is well-matched for every season of the market and has just yielded 120% from early last year. I and my advisor are working on a 7 figure ballpark goal, tho this could take another year.
She goes by 'Katherine Nance Dietz a renowned figure in her industry with over two decades of experience. It's best you research her further on the web, can't divulge much.
Thank you for the lead. I just searched KATHERINE NANCE DIETZ by her full name and easily spotted her profile, no sweat. I have sent her an email, hoping she gets back to me soon.
@@kbeezy7417 I disagree. Quality banking services, good customer support, and strong security practices are much more important than a .3% interest rate increase imo. That's why the majority of people keep their money in large financial institutions or banks/credit unions with a good track record, not UFB, SoFi, etc.
In order to get the 4.60% at SoFi, you have to sign up for direct deposit. If you don't, then you have to deposit at least 5k every 30 days. Why he doesn't tell people this, I don't know. Makes me wonder what the hoops are on the others that he's not mentioning.
Dude i signed up thinking that was true i found out the hard way. You also need the sofi plus membership. I dont have 5k a month!!
@@rhdadrian exact same thing happened to me so i closed my account and took out my money
Just put it in vangaurd 5.29% interest no BS
@@MotoProductions fidelity? what platform do u use?
okay, but why not open a direct deposit account? I mean what's wrong with that?
I began my investment journey at the age of 33, primarily through hard work and dedication. Now at the age of 58, I am thrilled to share that my passive income exceeded $100k in a single month for the first time. This success reinforces the importance of the advice mentioned earlier. It is not about achieving quick wealth, but rather ensuring long-term financial prosperity.
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $2m with the help of my advisor from an initial $350k investment.
@@mellon-wrigley3 That does make a lot of sense, unlike us, you seem to have the Market figured out. Who is this consultant?
"Gertrude Margaret Quinto" is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment
Insightful... I was curious about her, so I looked her up online. I discovered her website, and I must say that she seems knowledgeable. I sent her an email outlining my goals. I appreciate you sharing.
Assuming he is getting the 5.45% APY. Having $185,392.28 in savings to earn $789.17 a month is mad impressive.
If you have the Apple credit card, they have a savings account attached that pays 4.4%
You Apple Credit Union Credit card?
That’s awesome! Why have I never heard about this on Social Media?
Yes! This is the only savings account I have rn. No hoops or hidden fees
@@Lanna216 Can you please share how one can open an account with Apple?
I have Sofi as my main bank but I prefer the amex hysa.
SOFI requires direct deposit from your employer. Not an option I want to do.
What about the Amex HYSA?
What about BrioDirect? 5.3% APY
ForBright 5.30% APY, no fees, no bells or whistles either just a very high APY
Yup same here. Love forbright
Vio is also currently at 5.30%, been happy with them so far.
can i open an account online or do i need to visit in person
@@denniscobos3306vio bank website says 1.10 percent on their site for their savings account
@@thepotatoofheavenonline!
Why does wealthfront not make it to this list?
Best account is always the one not shown. Acorns has savings at 5% apy and an additional 3% in checking which is a total of 8% of all your money which is a no brainer plus they have early pay custodial accounts and a 3% Ira match not sure why he never mentions acorns.
Maybe because it has a monthly fee and limited features
@@sabahatiftikhar9547if you deposit 250 or more a month it’s free. Also has way more features then all these banks
What about Wealth front HYSA?
ufb doesnt let you get a savings unless you also get a checkings
edit: the site was just being maintenanced it turns out you can
That is 100% wrong. I have a UFB savings account only and I have been getting the 5.25% interest rate.
It’s about time synchrony gets some love.
Right! Been with them for years.
Western Alliance 5.31
I’m a teen looking to create a secondary savings account. When it comes to the sofi sign in bonus, does the direct deposit amount mean the amount of money that is being transferred to that account from let’s say another savings account or does it mean direct deposit in the sense of income from a job? Love your videos man keep it up
It's money direct deposited from your job(i believe)...i say that bc i did both, transferred $10,000 plus made the direct deposit threshold
Minimum direct deposit of $1000 per month from a source of income, like your job.
It’s really good you’re starting this early btw. Don’t get yourself in debt. Don’t chase the extravagant lifestyle. Build your credit and invest early. Good luck.
Hey I’m 18 and looking into high yield savings accounts also. Can u share your experience and any advice on wat to get started with?
A wedding and a car both are bad investments
yeah lol
How about Upgrade? Flagstar?
I have capital one 4.35%
Is there a specific requirement to meet to get the 4.35%? Like direct deposit or certain amount needed to be deposited every month?
What do you think of E*Trade at 4.5%?
What about EVERGREEN 5.31%
Also, APY vs APR, does it also vary if interest is paid daily? Thanks.
Thank you for explaining the UFB DIrect HYSA so well! I was under the impression is was just 5.45% but after watching your video I now understant that it is 5.25% and that we can do other things to reach 5.45%. Do we have to do all 3 things together or can you just do 2 out of 3 to get an extra 0.15% instead of the 0.2% we get for doing all three things?
How are yall getting 4.75% from Synchrony? Im only getting 4.65%.
No mention of Vio?
What about betterment?
Which bank do you use??
Forbright 5.30% with no minimum no fees
Yep been using them lately
Can I take my money what ever I want with that account ?
Yeah I love wealthfront ❤
Any issues with customer service? I looked up and saw that as one of the top 2 issues...so ive been scared away from using them even though i wanted that rate pretty badly
@@victoriamitchell6240no issues at all, great company!
@@victoriamitchell6240 Wealthfront is awesome
For the $300, would it work if I deposit $5k to myself or does it have to be from an employer?
Hey there! I looked DEEP into this. It MUST be direct deposited from an employer, social security, etc…NOT deposited by the money you already have from another account. So unless you’re making 5k in a month, you cannot qualify for this
Have you looked into Western Alliance Bank?
How does this work? Do you get that interest every month? Or is it split up between 12 months?
Most are paid out every month. So if you’re depositing $5k and get 5% interest, that’s $250 per year or $20.83 per month.
@@HypocritesExposd Got it! Thank you!
I like Marcus. It's the one I use though I don't like that. They took away seeing your net worth and I'm pretty sure sofi does which is cool
Why Don't you mention, once again, that you need to like deposit about 5k per month for the interest rate benefits for sofi? Seems very bias, almost like you are pushing for this one
Any direct deposit will yield the 4.6%. Non direct deposits require $5k. He definitely should have mentioned this.
It was $5K inflow into the account per month OR having direct deposit. That's how you get 4.6%
I like SoFi
If I want to transfer $10,000 to UFB from my current bank to get the extra percentage bump, whats the safest way to do that?
I just did that two weeks ago. You can do a external transfer from your bank. Your bank should do two "test" transfers usually like .50 or less. My bank did that and all was good. The first transfer will take a few days (have patience 😊). After that you are good to go! Hope this helps.
Hey guys im a 20 year old and im trying to learn about this type of stuff does anybody in the older generation know which saving account i should choose. I would listen to the video but i want a more “person to person” response .
Wealthfront? It's 5.5% with the referral boost.
That’s what I use
Be careful with wealthfront. They are not a bank. I’m currently being burned by Yotta-synapse-evolve bank fiasco.
Same they’re so good even without the boost
1. Wealthfront is a broker, not a bank
2. Wealthfront has no physical locations
3. Wealthfront has virtually no customer service. I can't even find a phone number.
4. The bank on the backend of Wealthfront is Green Dot.. eww
There are other cons, but these alone are good reasons why it is not in the top five.. or even the top ten imo.
@@ChaseDizzie thank you! Coming from Yotta user uggh. Never again! The whole BaaS model is suspect.
Hi can i apply UFB direct from the phils/japan
You didnt talk about the risk/conditions
What are the risks/conditions?
Sorry for my ignorance but are there interest being paid yearly or monthly?
monthly
I just had a serious question, I’m using an USAA checkings account, I don’t have a savings account but I wanna start saving using another bank, how would I transfer the money from my USAA to SOFI to put into my savings?
Once you open the sofi account you can add (link) your existing account. And transfer it over. You will need your bank routing number and your account number to link it.
Easy ACH transfer
Okaaay but how does one go about opening these? How do you actually get started?
Be carful what link you click many scammer out here
Don’t forget Merrill Lynch Preferred Deposit
Should I try a get a high yield savings account even though I’m 16?
A bit late reply but most places only let you get an independent savings account once you’re 18. Otherwise you’ll need a guardian/parent to open one. Nevertheless, if you are able to it is not a bad idea at all. The first few years in a savings account are when you will feel the least gains from it, since you are laying a foundation for future growth. But by the same logic, the sooner you start, the sooner you can make the most gains from a savings account. So if you are able to, open one.
@@jonathaninga2691 alright I’m going too try and get one
Wealthfront is the best one
Been using bask since 2022 . Been great .
Thoughts on Jenius?
I was looking into them as well, but no one on CZcams gives an honest review. They just read what is on Jenius bank website...
Party with Me I'm with UFB ......
How is the customer service?
I would make sure to stick with an actual bank that runs the whole stack. I’m currently being burned by Yotta-synapse-evolve bank fiasco 😢
Can you get out of that fiasco 😢?
Exactly. I'm very comfortable sticking with my local state credit union that I've been with since day one. They only pay me 3% in my HYSA but I think the peace of mind I have that I'll never have problems with my money is worth it.
You basically make the same video every month about the HYSA.
Sofi til i die😤
So if a buy a treasury bill for 3 months? With 5% interest. Do I see that interest right away after three months ?
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
keep contributing to your 401K, remember you are in for the long haul, but I'd suggest you consider financial advisory
Agreed, having a good financial advisor is invaluable, my portfolio is well-matched for every season of the market and has just yielded 120% from early last year. I and my advisor are working on a 7 figure ballpark goal, tho this could take another year.
@@Lindsay-jy this is striking! who is your investment adviser please, if you dont mind sharing? he/she is definitely grade-A smart
She goes by 'Katherine Nance Dietz a renowned figure in her industry with over two decades of experience. It's best you research her further on the web, can't divulge much.
Thank you for the lead. I just searched KATHERINE NANCE DIETZ by her full name and easily spotted her profile, no sweat. I have sent her an email, hoping she gets back to me soon.
These aren't the BEST savings accounts. They just have some of the highest interest rates. Would be better if you specified that in the title.
The highest intrest rate means the best…that’s what most people care about
I have UFB…and they give you a ATM card…it should be #1
@@kbeezy7417 I disagree. Quality banking services, good customer support, and strong security practices are much more important than a .3% interest rate increase imo. That's why the majority of people keep their money in large financial institutions or banks/credit unions with a good track record, not UFB, SoFi, etc.
@@kbeezy7417 How much do they pay you for marketing?
CIT? 5.0
I’m still using GS Saving Account from my Apple credit card
Speak faster so I can understand
FDIC???
yes all of them
Is the chime savings account good ?
2% is trash
5.50% In Robinhood. Beats everybody
Why
@@popoy6985 5.55% at my banking direct......
Not true
I got the $300, thanx John 😊
What about Webulls cash management account? Over 5% APR
What do u think about Cash app
Just in case you are not up to date, anything less than 5% is very bad checking and savings account
Not true
First like 🎉😊
why does he not talk about any cons like omg pls be honest