Why no one has savings accounts anymore! 😬📉
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- čas přidán 12. 02. 2022
- Putting your money into a savings account is a terrible way to make passive income. The bank might pay you around 0.01% on the money you save, which is very little when considering a good profit would require a large amount of money to be put in the savings account to begin with… 📉
Instead, buying shares of your bank gets you dividends, which have a higher percentage compared to a savings account. By buying shares you can make a lot more profit than you would by saving.
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#Shorts #Finance #Savings #Money #Bank
Who’s gonna tell him that he is only making $1 a year and not $100
@@yextrig it's 1
Who’s gonna tell him that he is making $10 a year and not $1
@@yextrig its 0.01 not 0.1
@@yextrig no, .01% is equivalent to 0.01% or 0.0001 or 1/10000, you might think the 0 is misplaced but you usually just skip it when it's just decimals. So the actual answer would be 1 dollar :)
@BaconPlays actually it's very important that you write out the % because just saying 0.01 is in decimal form and equivalent to 1% or 1/100
"No because I have 50 million power in Rise Of Kingdoms."
Only comment thats ever made me actually laugh istg
Great commebt
@@Prazcabut rise of kingdoms kind of outdated
😂
@@parhamrostami3637its a joke bc everyone sees those irl rise of kingdom ads on yt
Solution: make a loan at a bank for $1B, buy the bank, cancel the loan, sell drugs, profit
Tried that once, ended up in jail for a bit
Yea but forst they wont loan ypu shit and second the bank is federal
dang I tried that the other day and now I’m in jail for life 😔
@@VAM586😂😂 well, I used your little scenario but I made my own burger at a Burger store and then I bought the Berger store and then I canceled the burger and then I sold everything in the store… am I right? I should know a little more about investing but hey.. gotta stay somewhere..
@@Noobsarecoolya123 HAAHAH
Bro failed basic math 💀
That is basic “meth” that he is using
The value of shares can go down as well as up. You can end up losing the sum invested, whereas bank savings are protected.
Banks may be “protected” not talking about the Great Depression ig. But either way that 1-3% Interest a year is like a yearly raise it’s for inflation. The 7 % inflation which means your losing money. NEVER KEEP MONEY IN THE BANK
there not protected dummy whatll happen when shit hits the fan what they'll give u ur money back u wish look throughout history they've done it before
@los angeles it doesn’t matter if you have money on the savings account or not. Your money is still losing value because of inflation. The whole point of a savings account is to manage your money better. You’re not doing yourself any favors by keeping everything in your deposit.
Value goes up and down short term. But the value will always go up with inflation long term.
"savings are protected"
Have you ever heard of something called "inflation"? If you put your money in a savings account, there is a 100% chance your money will lose value 😹😹
Moral of the story: instead of using a company own the company
Why own something you can't use
Names don't count since you need them for id
but just wait until the stock price tanks 📉😂
@@_schonwaldover time it goes up 🥶
0.01% on 10k is 1 dollar a year, I am almost jealous
@@X_Odium_X 🤦
@@X_Odium_X bro flexing his math skills not knowing what a percentage is
@@X_Odium_X bro increase your IQ will ya?
@@X_Odium_X *0.01
@@avinashjain6306 u gon cope hard when u google 1% of 10,000😂
Meanwhile, Chase stock price drops 30%…
It doesn't matter
@@qbcd do yk how investing works?
does it goes up again?
@@gtxg. it's dividend stocks
@@qbcd well yeah it does lol
This aged like milk. Chase is down 10% from last year. So now you have -8% 👀
i think he meant he had his money in a high yield saving account (which guarantees the 2% a year with no possible losses)
Lol 😂
@@ethancollinsworth3927He saids shares tho, if he meant a high yielding account he could have said that instead of "I own some Chase"
sTOnKs
Divided stocks are different from the regular ETF also entirely depends on the yield of said stock
Companies dont pay dividend regularly to the investors, also dividend earning are taxed, all this BS around passive earning through dividends needs to be stopped.
well he knows more
@@sponge_memeshopyou THINK he knows more because his confidence looks/sounds good to you
To my understanding this proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough. We need to hold onto our hopes and wait to see how things turn out because market movements are almost always unpredictable. I have been using the services of Christy Vallen D'souza, a well-known financial advisor to monitor my portfolio, I have made so much money and will continue to make more every week.
Start by paying yourself first. 10% of everything you make goes to savings, immediately. Direct deposit if possible. only take on debt for appreciating assets, (home/real estate). Never for depreciating assets (car), it works. I retired at 58.
Sure, I recommend the financial advisor that guides me, her name is Christy Vallen D'souza, she certified and has done much work already. It shouldn't be difficult finding her.
Some people, I know, are still able to make quite lucrative investments in this niche industry. I happen to know Christy Vallen D'souza, She was recommended to me when I started, she actually taught me some good strategies I still used today.
I would prefer you search her complete name on the web, you will find her website, get her details and contact her.
Idiots
Mom can I watch mark Tilbury?
“We have mark Tilbury at home”
Mark Tilbury at home:
Bro it's mark Tilbury not Tilburg
@@vigneshc2765 ok thank you for telling me I’ll edit it
@@vigneshc2765 he never edited it
@@datonegamer8837 he did
Moral: Don't be jealous and this wont happen to you :)
Meh. For some at the moment, banks may be the better option for the short-term. Discover pays 2.35% for their savings account, and was offering a $150 bonus if you deposited $15,000 or more in your saving saccount. Also, they offer 1% cash back on up to $3k in purchases (which you can choose to have deposited in your savings). You can get 3%+ returns easily if you are able to take full advantage of each benefit.
I would have -20% returns if I had my money still invested in the market.
My whole country have saving accounts bro… 😂
$2K in savings isn't enough. Yes its not making much interest but $2K won't cover most emergencies that come up so you need more readily available in a quick access account.
Depends on your situation and definition of emergency. If we're talking about car trouble or a hospital bill, I'd hope 2k should cover it. If you have a $2k mortgage payment due and a family to feed and you lose your job, then no, it's not enough.
@@MaddMan621 Emergencies are things that are unexpected , bad luck or act of god. that should cover, tire damage, broken window, emergency vet bill and maybe jumping on a plane because a family member or good friend is on their death bed. most of those could probably be covered under $2K but they aren't the type of emergencies I was talking about..... those should be covered in your average bi weekly paycheck. But missing your Mortgage, losing your job, medical deductible, House HVAC, water heater, transmission and septic tank are all things you should have more than $2K for and when they happen, will clean out a weak savings plan and perpetuate the cycle of poor. if you are going to do it right, add up all your bills for 1 month. Work on establishing that then work on 2 months, 3 months and so on till you feel comfortable.
@@TIB1973 Alright yeah I agree. Ideally a few months worth of expenses.
I get %4.0 on my savings account so I’m sticking with that for now.
What bank is that ?
@@parkercarters2156 T-Mobile Money Checking Account and my Current Savings account.
For the 4% on T-Mobile, you need to be a T-Mobile phone service customer though. On Current, however, all savings get 4% up to $6,000. I can’t recommend this bank enough. It used to have a $5 fee but now every user gets 4% for free.
@@Derpuwolf wait for real??? Thanks for sharing I’ll definitely look into that!!!
@@Derpuwolf says on up to $3k and 10 debit card purchases in a month.
@@Andy-ou9lp I buy ten 50 cent amazon digital balance cards in one go. A total loss of 5 dollars. If you have 1500 or more, you break even with that expense and those 5 dollars are free for you to use.
For the whole of 2022 Savings Account in Ghana only gave us 10 Percent per Annum Wow.
I was waiting for “where did you learn this”
Removing metal cards is a big L
L
Great tip!
How is you shares now?? In the shit ??? Dont they ??? Hahahh
Love your videos mate, inspired me to start mine. Your long form video about savings really opened my mind.
Glad to help! 😊
@@faaresq-moneytips and one option better than savings account or stock investing is their checking offer of direct deposit.01$ or more and get 200$ every 2 years 🤷🏾♂️
@@P.I.P.E.L.I.N.E_Podcastbro shut up he know more
I just heard some words 😂😂
When he said huh he soundled like a villager from Minecraft
Or get a 36% return on any private loaning service in mexico
"Chase pays me 100 every year"
*Inflation entered the chat*
1 dollar *
Me: turns away
Him: Hum
Me: Villager among us
Bro hit em with an Uno reverse card
that amex hysa paying 3.44% interest outperforming your jpmc dividends haha. I work at jpmc and i think the 0.00001% is crazy low still don’t know why tho
For short term savers, the point is putting money aside, for different reasons. This is money you can access in case of an emergency. The other financial options don't help here.
Some online banks does 1%
Call an ambulance but not for me
Yeah but how do you know which company actually pays their dividends. Not all do
Amex pays me 4% and isn’t at risk of the stock price going down
Big facts
“Cuz” “baby” 😂😂 who talks like that
In India we get 5-6%
Good learning - I like it 👍
I was waiting “how do u do it”
The sheer genius of banking. They use YOUR MONEY, lend it out to dumb suckers for 6% and up whilst giving YOU 0.01% for the privilege of you lending them YOUR MONEY. Pure genius.
It’s pretty ridiculous how low % are for savings accounts go with sofi 4.6% and insured by fdic up to 2 mil
Meanwhile one has liquid assets and security while the other is just praying the market stays up enough to get him his 2% dividends.
Yeah but Chase stock is improperly valued right now meaning you have a very high probability of losing money regardless of that dividend you’re still going to lose money because the value of your shares will go down
Currently I get 5k annually from my bank. The savings are for a down payment that I don't want to risk in the stock market
So many adult words to Google. So much stress. Return to childhood
Him: Now are you jealous?
Me: No because I don't know the fuck that means
I just learned about high yield savings accounts at something 4% APY. It ain’t much but it’ll help offset inflation
Jokes on you I get 5 percent a month in my savers
It’s better to buy shares instead of saving your money in the bank, just don’t pull your money out when stocks are low
Maybe if you would explain what the fuck a dividend is this might actually be useful information.
I think the word that they’re looking for is envious
Also yearly inflation be like 📈
Cause this generation doesn’t have money
To save?
“The reason that man is seldom satisfied with his salary is that when it increases, he increases his expenses.”
You can afford to save your just greedy and want apple products, Jordans, and pointless gadgets you'll throw out in a year.
I make about 250 a week and save about 150 to 200 a week I'm 21, don't have a degree, and have 25k in stock and 15k in savings. (I've also done gig apps since highschool whenever I have unused free time)
Already moved out and living with my roommate!
@@jamesburrows3602 and your rent is? Cause I doubt 200-250 would even pay for a months rent never mind the rest.
@@childeryeeter4202 400, talked down from 500, I do free handyman work, and split it with my roommate. It's honestly my biggest expense, but I honestly only do about 3 days of light work each month repairing stuff, usually just painting and wall repair. Occasionally there's something weird like a fire extinguisher fell off the wall and completely obliterated a tile. Took me five freaking hours to fix, but only ten minutes on CZcams to learn how. I couldn't get the damned tiles to cut right with the little handheld antique tile cutter.
@@jamesburrows3602 damn bro, that’s a nice life ngl
@@childeryeeter4202 I spend a decent amount of my time just hanging out at home stealing my neighbors wifi. Plus I do extra side gigs for cash when I have the free time. I don't live in the city it takes about 30-40 minutes to get to what I call the city. I'm often amazed at the cost of living difference between the city and the country its insanely unbalanced.
I could drive to the city do one or two small jobs and have gas for my car for the month. But a cup of coffee costs more then a meal.
It's even crazier when you realize most office work can be done at home now. The city is literally a glorified shopping center and bar hub.
what bank gives only 0.01% per year?💀
leaving money just in trading 212 (not owning any stocks), already pays 5.5 % per year, or better yet, leaving in s&p 500 for a relatively stable 10 to 20% per year
Bro's getting 100 dollars a year💀
One dollar a year with correct math 💀
So what happens if you have a $10,000 emergency but all your savings are in stocks?
It's not jealousy it's envy
Chase pays 3.1% interest on a UK easy access savings account up to £250,000.
10k @0.01% APY= 100% I failed math class.
100 years=1% bonus💀💀💀
Bro gets paid $10 a year 😭😭💀💀
my bank pays me 5% a year... :)
How can we learn?
Could one maybe fo both? Legit asking because I’m not really financially literate. Like, have most if it in a savings account and invest the rest?
The only good thing is that one can sleep quietly at night while Business goes on as usual as 2023 progresses.
My bank give me a 5% a month on my money 💀
But in reality with those low rates with inflation so high your acually loosing money not earning yes the number goes up but the value of that number goes down
Chase in UK pays 4.1%
Because buying index funds does better😂
$2K, $20 a year=100 goddam years
I have 8k and getting 7% interest
Where is that?
Is it the same as a certificate of deposit?
The Indian banks paying between 5-7% 😂
Bro, got the same glasses as me
This is precisely why despite the fact I have a checking account with Chase, when I open a savings account, it will not be with Chase.
Except nobody is talking about the fact that a mutual fund or index fund would pay you 7-10% and compound. And much less likely to lose money then having all your money in one stock. Literally neither option portrayed in this example are at all smart investments. And if you need something shorter term that’s guaranteed and safer even money market funds and bonds pay 3-4%
What about online savings accounts like Paypal, with 4.3 apys?
Wow. .01% is insamely low. In romania we have like 7% on deposits
Ok, so person with 10k can also buy shares and make more than person with 2k?
Is it Dividends?... Yeap listened again & that's it! How much do you have to start this Dividend w?
Me: Mom can we go to Primz
Mom: We have Primz at home
Primz at home:
Have both one is investment another is savings
To this day he never responded 😂
I thought the twist was gonna be he has $20,000 or whatever in a high yield savings account that nets him 4.5% interest each year. Not that he just spends all his savings on the stock market lmao. He doesn't even have an emergency fund saved up
and one has insurance and one doesn't.
Man 1:wait your not jealous. Why?
Man2: IT IS ONE OF THE COMMANDMENTS NOT TO BE JEALOUS!!
I'm new to banking can someone explain current accounts
yall pls never if your in New York do not go to citi bank
Mine pays me 6.0% APY every month on the 1st
Boeing employees credit union
JUST DON'T USE BRICK AND MORTAR SHOPS AND YOU'LL BE FINE. THERE ARE PLENTY OF ONLINE BANKS THAT ARE FDIC AND OFFER RATES SIMILAR TO TOP CDS.
Me in thailand: 3.25%, but you can't withdraw it for 5 years, take it or leave it.
Aww that's cute he only gets paid .01% in interest in his bank in savings account while on the other hand he's getting 2% in dividends.
Me: i get paid 3 to 6% baby a month with my savings account.
How they got that 2%
As a teen how can I buy shares? For 1 you have to be 18 plus and 2 I have no idea how to even start with investing, I have an income from my job and want to start using this money to amount to a well passive income as well please leave me some advice.
There are such things as youth accounts, which you can open up with a brokerage such as Fidelity or Vanguard. This will be a good place to start before 18. Most of the rest of the stuff I list here will be for after 18, but it is always good to keep this in mind so when you do turn 18 you are ready to start investing. Time is the best asset you have right now.
For investments there are a few different accounts you can look into. Roth IRAs and 401ks are retirement accounts. Once again, Fidelity or Vanguard are good for that. These accounts have certain restrictions on when you can pull the money out without penalty.
Standard brokerage accounts will be an account you can use for non-retirement purposes. Some brokerages that are good are Robinhood, Fidelity, or Webull.
When investing look into index funds, they are generally the best bet for making good returns without the crazy amounts of risk that individual stocks can come with.
High Yield Savings accounts are good ways to step up your interest when it comes to regular bank accounts. Marcus by Goldman Sachs is what I use, but there are others out there.
Starting off is always the hardest part. Luckily you have a plethora of information freely available on CZcams. Check out "the Money Guys" channel. They do a great job at motivating and have resources to help people get started in the world of investing.
Alternate title: "This is what idiots believe and how most of them end up losing their money."
How to do this tho?
WHAT how did he flip on the other guy when the other guy thought he had it better....Info please make sense for me
who is gonna tell the people the answer is one as 1 % is 100 0.1 is 10 and 0.01 is 1
So don’t have liquid cash is the lesson here