Best High Yield Savings & Checking Accounts 2024 (Wealthfront & More!)

[@DiamondNestEgg]

💎Get our popular bond course bundle & save $80: www.diamondnestegg.com/home#_paa2isucf 💎Bond Beginners (our foundational-level bond course): www.diamondnestegg.com/bond-beginners 💎Bond Masters (our intermediate-level bond course): www.diamondnestegg.com/bond-masters 💎And join our super-supersaver membership for regular market updates & monthly live member Q&As kzbin.info/door/nexoc6tvesvcCEzZhmI-Agjoin >>>>>>>>>> WATCH NEXT >> Our Bond Courses vs KZbin Membership | Which Is Right For You: kzbin.info/www/bejne/fmbLZXivnZWboNE >> Bond Beginners Course Sneak Peak | I-Bonds vs TIPS: kzbin.info/www/bejne/q4mzq5WgmpaaaKc >> Bond Masters Course Sneak Peak | How To Build A Bond Ladder: kzbin.info/www/bejne/pmqTenejjdNkb9U >>>>>>>>>> SOURCES: www.origin.bank/performancechecking/ www.newtekbank.com/certificate-of-deposit/ www.newtekbank.com/personal/high-yield-savings/ www.briodirectbanking.com/high-yield-savings/ www.wealthfront.com/cash/boost www.wealthfront.com/investing support.wealthfront.com/hc/en-us/articles/360043196472-What-is-the-Wealthfront-Cash-Account www.wealthfront.com/cash-account-participant-banks www.viobank.com/cornerstone-money-market-savings www.cfg.bank/personal-banking/personal-deposit-rates/ www.everbank.com/banking/performance-savings www.cit.com/cit-bank/platinum-savings REFERENCED VIDEOS: FDIC Explained: kzbin.info/www/bejne/qqnQiX14fLqSbZI >>>>>>>>>> Here is the overview for Bond Beginners: 1. Bond Basics What A Bond Is & How A Bond Works Why Invest In Bonds New Issue vs Secondary Market Bonds Interest Rates & Bond Prices Current Yield & Yield To Maturity Always Remember This! Buying At Par, Above Par & Below Par Different Types Of Bonds Wrap-Up 2. The Risks Of Bond Investing Seven Key Bond Risks Credit Risk Interest Rate Risk Reinvestment Risk/Call Risk Inflation Risk Liquidity Risk Currency Risk & Country Risk Bond Risk Mitigation Strategies Wrap-Up 3. US Treasuries Overview What Are US Treasuries Why Invest In Treasuries Where Can You Buy Treasuries How Are Treasuries Taxed Wrap-Up 4. Treasury Bills What Are Treasury Bills (T-Bills) When Do T-Bill Auctions Happen Where Should You Buy At Auction Auto-Roll When Buying At Auction Where To Find Recent Auction Results High Rate vs Investment Rate Reopening Auctions Cash Management Bills (CMBs) Buying & Selling On Secondary Market Wrap-Up 5. Treasury Notes & Bonds What Are Treasury Notes & Bonds When Do Auctions Happen Buying Treasury Notes & Bonds Auction High Yield vs Interest Rate Floating Rate Notes (FRNs) Treasury Zeros (STRIPS) Wrap-Up 6. TIPS (Inflation-Protected) What Are TIPS When Do TIPS Auctions Happen Nominal vs Real Yields Negative Yields How Do You Adjust TIPS For Inflation Taxes On Phantom Income Secondary Market Liquidity Wrap-Up 7. I-Bonds (Inflation-Protected) What Are I-Bonds How Does I-Bond Interest Work I-Bonds vs TIPS The Annual I-Bond Limit Wrap-Up 8. Agency Bonds The Universe Of Bonds What Are Agency Bonds How Are Agency Bonds Taxed Treasuries vs Agencies Who Might Want To Consider Agencies Yield-To-Call & Yield-To-Worst Where Can You Buy Agency Bonds Wrap-Up 9. Municipal Bonds Our Bond Universe Gets More Complex What Are Municipal Bonds How Safe Are Munis How Are Munis Taxed The De Minimis Rule Social Security & Medicare Premiums Treasuries, Agencies & Munis Who Might Want To Consider Munis Wrap-Up 10. Corporate Bonds Our Bond Universe Is Complete What Are Corporate Bonds How Safe Are Corporates Corporate Bond Hierarchies Five Key Features Of Corporate Bonds How Are Corporates Taxed Treasuries vs Corporates, Etc. Who Might Want To Buy Corporates Wrap-Up >>>>>>>>>> Here is the overview for Bond Masters: 1. Stocks vs Bonds Historical Performance Are Bonds Really Less Volatile Why Invest In Bonds Accumulation vs Decumulation Allocation of Stocks vs Bonds Wrap-Up 2. Which Bonds Might Be Right For You Treasuries & Other Types of Bonds Nominal vs Real Yields Inflation vs Non-Inflation-Protected Taxable vs Tax-Advantaged Accounts Wrap-Up 3. Bond Ladders & Other Bond Strategies Normal vs Inverted Yield Curve What Is A Bond Ladder 5 Important Bond Laddering Questions Laddering When Rates Are Rising Laddering When Rates Are Falling Laddering When Rates Are Uncertain What Is A Bullet What Is A Barbell Wrap-Up 4. Holding to Maturity vs Selling Early Why Hold to Maturity When To Sell Early Before Maturity Tax Implications Of Selling Early Wrap-Up 5. Individual Bonds, Bond Funds, Etc. Why Buy Individual Bonds Why Buy Bond Funds Bond Fund Considerations Key Bond Fund Concepts CDs vs Treasuries Other High-Yield Investments Wrap-Up 6. Our B.E.S.T. Model Portfolios By Age Our B.E.S.T Model Portfolios By Age Model Portfolios In The Industry B.E.S.T Model Portfolio Difference How Much Do You Need To Retire? How I Use The Rules of 100, 110, & 120 B.E.S.T Model Portfolios (20s) B.E.S.T Model Portfolios (30s & 40s) B.E.S.T Model Portfolios (50s & 60s) B.E.S.T Model Portfolios (70s+) Wrap-Up 7. The Decumulation Phase What Is The Decumulation Phase? Bear Markets & Recessions What Can You Do In Bad/Bear Markets Decumulation Tax Considerations The 4% Rule The Bucket Strategy The Flooring Approach Jen’s Bucket Strategy With A Twist Wrap-Up >>>>>>>>>> Thanks for visiting our personal finance channel! We hope this content will help fast-track your financial journey! Everyone's financial journey is different. Please note that: 1) there are questions/ comments which I will not be able to answer without fully understanding your financial, personal & other circumstances 2) we will not ask you to call us or send us money in the comments on this channel or any of our other social media accounts, so if you see comment(s) along those lines, it is most likely spam - PLEASE DO NOT ENGAGE WITH SPAMMERS OR GIVE OUT YOUR PERSONAL INFORMATION FOR YOUR OWN SAFETY

[@deemac8231]

I bank with Everbank. The savings rate has been 4.75-5% since I joined 3 years ago.

[@WillAustin]

Good to hear. I tried to open an account there and it is still not working 2 weeks in, started to worry it was a scam.

[@eddenoy321]

For of you who think the mention of FDIC coverage is repetitive or even unnecessary, I assure you Jen Is spot on. I have experienced bank insolvencies and was over the insured limit. It is a massive hassle to get your money back and you will wait a long time. Always check your coverage. Bank closings will happen suddenly and without warning. Don't take it lightly.

[@geoffgordon9569]

Thinking of going to brand name bank CDs that offer lower rates for peace of mind.

[@petrao8669]

I only keep a minimum cash amount for monthly expenses in my checking account, with a small amount in reserve within my savings account. Just like yours Jen, my checking account and savings account pays nothing in interest. Other cash is in my market accounts or short-term T-bills, just like you have, Jen. This works very well for me.

[@GregF-k7w]

You are a financial wizard.

[@cookmaster3626]

Yes. The high yield savings accounts with attractive teaser rates are very enticing. Unfortunately they drop the rates after a few weeks and dont tell you until you see your statements if you do read them. Therefore the hassle of opening and closing the account is not worth it. However if a CD is offered @ a higher rate without any side conditions like auto deposit, ATM, debit cards etc, it iswell worth considering.

[@LMF-ct4lt]

M1 Finance is offering 4.25% interest on savings up to $3.75 million FDIC insured.

[@briandadude]

I'm happy enough with my brokerage's money market funds yielding ~4.7%. A lot of these outlier rates won't last and juggling accounts (and resulting 1099-INT forms) is work.

[@NormanSmith-m8f]

Anything higher than the current inflation rate is good until we know what the new administration is actually going to do. Don’t listen to all the noise currently.

[@eddenoy321]

completely agree

[@petrao8669]

Juggling accounts is not worth it to me.

[@BabaCustom]

I agree

[@rshcam]

Agree. I had opened CD accounts at Marcus bank in 2021 and they keep sending you offers to boost rate. Some of my CDs are still at 5.5% and they mature in Jan 2025. I will just move the money to Fidelity mmf.

[@ATHJD07]

Yeah! Thank you so much! Newtek HYSA 5.12% beats my Western Alliance 4.46% - I use the HYSA for my emergency fund and T bills & Agencies in Fidelity for savings I plan to use towards a HECM in 2 or 3 years. I was going to move my last Treasury Direct T bill into Fidelity when it matures next week, but now I'll be putting it into a 5.25% 6 mo NewTek CD if that rate is still available

[@DiamondNestEgg]

Glad this was helpful!

[@vgm3067]

Western alliance is nothing but a nightmare bank. Slowest bank ever with poor customer service. I wish I would have settled for a lower interest rate but with a better bank.

[@newkirk7591]

transferred from bank of america to capital one 3yrs ago. even though capital one doesnt have higher yields than the banks mentioned in this video, i love the user friendly mobile app, zero fees, and zero minimums.

[@alcw625]

gave up on the paltry returns by WFC and moved on to Fidelity to keep cash needed for taxes and emergency fund...keeping enough in checking to meet balance threshold

[@jsizemo]

9:08 in answer to your question, this is less of a concern. I don’t typically hold the cash there that long. The point of the savings and the money market accounts is to hold cash until you have minimum to open a CD, make a bond purchase, or perhaps to buy equities or open a mutual fund.

[@hrhsophiathefirst4060]

I keep two month's expenses in my checking account at a brick & mortar that has paid 3% for almost 20 years with ten transactions with no time frame to complete and ACH. The rest of emergency fund is in combo of CIT HYSA and CD's.

[@raniam2325]

We love your show so thanks so much for letting us consumers know. I'm curious if you can do one video for the highest CD interest rates as of now since rates have been going down. Ideally 1 or 3 yrs CD. TYIA

[@eddenoy321]

A recap would be nice from time to time.

[@jsizemo]

@@eddenoy321She just did some recaps last week, at least with regards to brokered CDs.

[@lauraresnickrealestateagen2309]

I have money in AmEx Savings and earning 4%

[@Giftbasketbusiness]

Appreciate all that you share, and the part about old school walk-in banks - I concur.

[@samh6761]

The money market rate at my credit union isn't good at all, but I keep some cash in there for the high liquidity. They have competitive certificate rates, and the rest I keep in a T bill ladder. I see no reason to futz around with HYSA accounts from all these other banks, but I appreciate the info.

[@parvizlazem9605]

Wealthfront is fantastic.

[@guillermogouldburn763]

Just dropped from 4.50% to 4.25%

[@chrisblock6697]

I think you also need to think about state taxes. Being in high tax CA, treasury money market exempt from state tax is what I'm currently doing.

[@LoneStar70]

SPAXX is not FDIC insured but backed by government securities, so if one is already comfortable with that why not go for other treasury backed funds like TFLO which is like 5.4%?

[@DiamondNestEgg]

The rate has come down - it’s a floating rate ETF so will move up and down with rate changes

[@Findingariel]

Do any of these banks/financial products in this video use simple interest or compound interest? Fidelity MMA compounds interest, no fees, no minimum balance, no activity requirements.

[@easy10]

Chase has a money market account, fixed income ~5.2%

[@Golden.5555]

Thank you Jen I appreciate this

[@shebamut]

Never heard of some of these banks..don't want another Silicon Valley Bank fisco....

[@nemoxero]

hi, what is your speculation on how the treasury in general, and specifically t-bills will be affected by the recent political changes ? thx…

[@dr.baobao]

Everbank's non-promo rate is 4.35%.

[@bjorngustafsen8508]

how important is fdic for money market funds at schwab

[@igorkripak7702]

Newtec mostly negative reviews, $25K max transfer

[@johnl9135]

I think I will stick with my current checking account still paying me 5.07% APR.

[@tonygibbons5]

Okay, keep you're secrets!

[@sobhan32]

Primis?

[@brettdeluca3166]

Quick question I bought that 6% bond Deutsche Bank Aktien 6% 11/15/2039 Callable was that a bad move?

[@joannasiquier5091]

I only have 150k and it’s parked in a t bill at about 5%. Both my checking accounts pay no interest. Im wondering if I should switch

[@guillermogouldburn763]

150k? Congratulations, you're among the 10% richest people in the world.

[@ELconomics101]

Good afternoon ma'am

[@scotwells7573]

Newtek isn’t opening savings accounts. You get put on a waiting list.

[@MrGianfrancoV]

Upgrade bank savings with no restrictions as of today has an interest rate of 4.69%

[@jesschen1568]

Can you refer business high yield saving bank?

[@danielmcgowan113]

This comment is not regarding your current video. It is about the Treasury Direct email to deliver the gift box ASAP. Both my wife and I just received the email this morning. I know that you had called to verify it's authenticity, but I used the message function from within my account to ask the question about penalties for going over the annual limit. Since you have not mentioned this issue for awhile, I was wondering if you have received the email. I am going to wait to see if I get a response in my account message box.

[@ck8935]

Wealthfront dropped their yield to 4.25% on Nov. 19th.

[@macaccount4315]

CIT platinum and Bask Bank

[@DrunkPrepper]

Second CIT Platinum Savings

[@xiaoming8469]

Bank of Hope, 5.10% APY High Yield Savings, Available online only - for a limited time， Min. $1 to open

[@josephmatheson4551]

Where is the Origin Bank link?

[@josephmatheson4551]

Cannot find the Newtek Bank link either. What am I doing wrong?

[@WordsPhotos]

You have to be very brave to deposit your money on unknown internet banks.

[@geoffgordon9569]

Use brokered CDs to go after those higher yields. They are FDIC insured. Most start at $1000, but some at $500.

[@rons2079]

The one thing that sucks about brokered cds is that you don’t get any interest if you need to liquidate and sell it before maturity. All you get is an adjusted price and it is nowhere near what a traditional cd offers. Better off with a traditional cd and accepting early withdrawal penalty. End up with more money at end of the day.

[@S.A.1]

@@rons2079is that right? I thought they paid you proportional interest when you liquidate your CD… Can anyone confirm?

[@paltzcommons]

Are fidelitys money market rates exempt from state and local taxes?

[@petrao8669]

Only in a ROTH account.

[@GmanSJ]

Check out FDLXX. It’s not a core position but it is exempt as it holds mostly treasuries I believe.

[@TJOLLYRANCHER]

All will go down

[@victorp5491]

These web based banks are TOOOOO Risky .I will stay away from them. Try calling them see if they answer the phone ??

[@WetWillieBBQ]

Agree. A couple points are not worth the additional risk.

[@bret.2274]

I’ve had no issue SoFi

[@elyssaberger5901]

I use wealth front. They are very safe as she said there is a list of banks that back them and they are FDA approved to 8million! Look at the banks that secure them and the FDA. Haven’t seen anything like that where the FDA insures so much. It may be an online bank but unlike others they are backed by big banks. When I do my transfers I can see my money is actually parked at Green Dot partner bank which insures it.

[@jennylee8970]

Too many conditions

[@lesliephillips2985]

Cit platinum

[@Sam9wilson9]

❤

[@TalatHaider-d4x]

Origin bank link not working? It doesn’t send email and no text in ur phone I tried both ways?