5 Things You MUST KNOW About High Yield Savings Accounts

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Danny Sully

Күн бұрын

Пікірлер: 41

@DannySully 4 күн бұрын

Which account(s) do you have? - Enjoy! Top High Yield Savings Accounts To Consider: dannysully.link/Savings

@leoramirez3146 2 ай бұрын

Lock in a cd fast now before they cut rate

@AnthonyTilleyVideography 27 күн бұрын

Marcus by Goldman Sachs just cut down to 4.1 % you were right

@Himothy772_ 2 күн бұрын

Wats a cd ughh

@brian7110 2 ай бұрын

Informative video! What is the website for the 30 year compounding calculation?

@DannySully 2 ай бұрын

Thank you! Here is the link and i'll put it in the description of this video as well: www.calculator.net/investment-calculator.html

@karonlamont6869 Ай бұрын

Hey what’s the best account to set up for my daughter this or stocks what you do if you have a child

@DannySully Ай бұрын

Hey! Thanks for your comment. This completely depends on your usage of the account. Stocks are if you want long term investing. HYSA is best for emergency savings and cash you want easy access to in the near future. There are also many other tools you can benefit from depending on the exact type of reasons you are storing away the cash.

@Messup7654 Ай бұрын

Start right now with stocks let’s say you have 500 dollars a month to save for your child. Put half in a high yield savings account for an emergency fund and the rest in stocks. A index fund stock like that S&P 500 that is the top 500 American companies so you’re sure your stocks won’t drop far and will rise consistently.

@appleztooranges 2 ай бұрын

Yeah taxes freaking suck. So say I made $1200 interest a year on HYSA. I’d owe back $264. Unfair

@happ-e5447 2 ай бұрын

Yes, that's double taxed because you already paid taxes on that money. Frustrating for sure.

@s10jam 2 ай бұрын

I think you are supposed to max your Roth IRA before that in most cases. I assume you did that.

@appleztooranges 2 ай бұрын

@@s10jam working on it. I think emergency fund is more important though

@s10jam 2 ай бұрын

@@appleztooranges I guess I looked over the part abou that being hypothetical. Emergency fund is certainly important. Good luck!

@happ-e5447 2 ай бұрын

@@s10jam yes, my wife and I maxed our roth ira and have $23k emergency fund on a HYSA

@LucasXander-x9b Ай бұрын

Going to get my first real job at 16 in a couple of weeks, is it worth it for me to do this even if I’m not going to be making much more than minimum wage and probably won’t be working more than about 30 something hours a week?

@DannySully Ай бұрын

Emergency savings are recommended for everyone but I can not say what to do. If you have additional on top of that, I will say HYSA is not the place since you could be investing and leveraging the money in better ways.

@sbon4771 Ай бұрын

At age 16 you can open a Roth IRA. Roths are awesome, look into it!

@anthonyaguirre1498 2 ай бұрын

So what do you recommend to make wealth? Tax free options? Or any way?

@DannySully 2 ай бұрын

Starting a business, investing into real estate, the stock market. Retirement investing in the stock market for tax advantages. I just wanted to emphasize here that HYSA can not build wealth like the other areas can!

@nivkhexonym 2 ай бұрын

@@DannySully the million dollar question is what kind of business???? i have the money but no ideas.

@MarvFitBikesKicks 2 ай бұрын

Go through his channel, savings accounts are more emergency funds, not building wealth

@frederickvalencia4976 2 ай бұрын

@nivkhexonym it requires homework. For example, you can't sell snow jackets in FL. You need to find what the market or services is needed in you area and how knowledgeable you are. If pressure washing is good money but you know nothing or experience your business will fail.

@Brucifer3 27 күн бұрын

SoFi commercial

@transitengineer 2 ай бұрын

This was excellent with good information that, was presented nice and simple. There is a local Credit Union in my area currently offering a Certificate of Deposit (CD) at 5.75 percent APY. My goal is to open an account with about $200,000. Please note, I have other larger sums of money in both the stock market and other types of investments (smile ... smile).

@DannySully 2 ай бұрын

Thank you very much! And that's great!!!