It's great that these RUclipsrs are giving out this general information but many of them are not saying that they earned a high income to be able to save so much.
12 years ago interest rates were in the toilet similar to pandemic levels prior to rising inflation. A "high yield" account would have been lucky to see above 1%. And these rates todag will go down and will never outback inflation when factoring in taxes and yearly rise in cost of living. She's not telling the full story.
I beg to differ. I opened up a high-yield savings account back in 2018 and the rates have been pretty steady 😢😢at between 2 and 4 percent. On the flip side of the coin I was stupid and didn't know what I was doing and I have had next to zero in that account for all of these years
@@seegud_ The high yield checking accounts rates are anchored on the fed funds rate. The Fed recently reduce the fed fund rate which means HYSA rate will also go down
@@isabelsalamanca893 pulled herself up by her bootstraps. Just a faceless nameless immigrant with highly educated and well connected parents in the finance sector. Against all odds.
The catch is we’re being duped into thinking we are receiving a good rate from our checking account. My bank pays me almost nothing per month on a 5k balance. My simple PayPal savings pays me 4.3%. So that’s where I keep my emergency fund. If I was smart I would open a sofi checking account. I need to get smart😂
How would you find out if your checking account did or more so did not get interest added? I have never been given interest for any money entered into my checking.
How exactly did you become a millionaire in 10 to 12 years? It would seem that you would need to invest, save and beat the market while investing $6,000 or $7,000 a month
I am also in Europe and have the same issue when hearing all the American advices…I don’t understand why there are no financial RUclipsrs in Europe just a bunch of fashion girls 🙄🙄🙄 so annoying
After having a high yield savings account with about 2k in it what do you advise to do next? Everyone says that a high yield savings account is the first step what the next lol
Exactly which bank is giving “up to 10x as much interest on your savings account?” Name the bank. No high yield savings account is giving 10% right now. This is misleading. I’m getting 5% and that is excellent in this current market.
She didn't say 10%. She said "10 times as much as the national average." As she showed, the national average savings rate is 0.45% according to the FDIC. Ten times that would be 4.5% which is in line with what you're saying: roughly 5%.
You are making a difference, thank you for sharing your knowledge with the rest of us!
It's great that these RUclipsrs are giving out this general information but many of them are not saying that they earned a high income to be able to save so much.
So happy I found your channel and that I bought your book. I wish I caught on sooner 😅
What’s her book called
@@adnanfaisal1085 Rich AF
Girl me too ❤I wish someone one telling me ur advice On that long time ago 🎉🎉🎉 People take ur advice So smart 😊
12 years ago interest rates were in the toilet similar to pandemic levels prior to rising inflation. A "high yield" account would have been lucky to see above 1%. And these rates todag will go down and will never outback inflation when factoring in taxes and yearly rise in cost of living. She's not telling the full story.
I beg to differ. I opened up a high-yield savings account back in 2018 and the rates have been pretty steady 😢😢at between 2 and 4 percent.
On the flip side of the coin I was stupid and didn't know what I was doing and I have had next to zero in that account for all of these years
Yeah I have all that. I don't see the millions sadly.
You would have to put millions into the HYSA, then you would, instantly, see millions.
@@T.S.000HYSA ?
Give us examples of high yield savings accounts
SoFi, capital one, navy federal I think. Anyways she has high yield savings account videos on her channel
I just switched to SoFi from bank of America
Most are online savings accts. Navy Federal is a credit union.
@@lisaiz2happy I had my savings sitting at bank of America 0.01 apy
Wasn't planning to invest it, so I got sofi 4.5%apy on a savings account
Ally is another good one. Easy to open online
I have a Wealthfront Cash Account that is paying 5% interest right now.
Her college days were great because girls look Cuuute wearing cute brown boots!! 👢👢
Already have one opened, but like you, I wish I had opened it earlier instead of in my 30s💚💚💚
This is contextual, depending on the fed fund rate if it is worth putting money a high yield saving account
This is conveniently left out when influencers talk about HYSA's 😂
What is a fed fund? I am just hearing about high yield checking accounts.
@@seegud_ The high yield checking accounts rates are anchored on the fed funds rate. The Fed recently reduce the fed fund rate which means HYSA rate will also go down
Hi yield savings accounts will help you keep up with inflation with more liquidity than a CD but if you're looking to invest, head to the market.
Also, you came from money but are doing the typically wealthy person routine of "I STARTED FROM NOTHING".
Actually, she grew up in a modest immigrant family.
@@isabelsalamanca893 pulled herself up by her bootstraps. Just a faceless nameless immigrant with highly educated and well connected parents in the finance sector. Against all odds.
What’s the difference between a high yield savings and a CD account? Both have high interest rates
Marcus Goldman Sachs does the same thing. 4.4%
Thank you! You’re like money advisor bestie I never had
You should explain that interest rate in "real dollars". 0.08 percent isn't readily understood by most people.
It’s understood by everybody. If you tell me otherwise then I will lose all faith in the education system.
It’s a fraction of a penny per dollar
Invest $100 a month in Apple stock and when I got my first peice of money at 23 back in 2003 put 5k in Apple stock .. I’ll be rich AF now
But what's the catch for a bank giving you a high yield savings account?
The banks just wouldn't do it out of the kindness of their heart.
The catch is we’re being duped into thinking we are receiving a good rate from our checking account. My bank pays me almost nothing per month on a 5k balance. My simple PayPal savings pays me 4.3%. So that’s where I keep my emergency fund. If I was smart I would open a sofi checking account. I need to get smart😂
girl I had no idea you went to uchicago! recognized the quad almost immediately
Thanks Vivian ❤
How would you find out if your checking account did or more so did not get interest added? I have never been given interest for any money entered into my checking.
Great Advice🎉
Unfortunately interest isn’t even allowed in my religion 🤦🏻
Love your advice. Thank goodness you stopped saying "your favorite bff"
Do you pay taxes on high savings account?
This account requires a direct deposit. Can you please prove other options? And also for business accounts. thank you.
I sure wish I knew this when I was younger and had the money to invest yet it sat in a regular savings account 🤦🏻♀️
She wasn’t ever poor smh
Does she come from a Rich family?
So? Does it have to be a rags to riches story for her advice to still be valuable? No.
Who Cares lol. I rather the information.
You wish she was poor? Weird.
Yeah minimum for high yeild account at my bank is 10,000. 😅 no credit cards, not car payments still broke as a joke.
What about europe?
HYSA are still taxable
Always looking so important with 6 monitors in front of you 😂
Are online savings accounts safe? Has anyone tried them?
So name a few
Google is your friend. SoFi is the sponsor of this video and the one I use. I’ve had no problems with it and enjoy the budget feature.
@@Username0467So, SoFi is giving you 10% on your HYSA right now as this video suggests?
What banks do you recommend to start a high yield savings account
Thank you
How to high yield savings account?
When I opened my first checking and savings account I went to the same bank my mom did. My savings account only had 0.03% apr 😒
Most people don't have $50000 to put in one of those accounts
I love SoFi!
Love you Vivian
How exactly did you become a millionaire in 10 to 12 years? It would seem that you would need to invest, save and beat the market while investing $6,000 or $7,000 a month
Thank you ❤
How does that measure up against T Bills?
Australia gives you 5 percent of your savings return. WTF is america doing to you guys
Are you a multi millionaire because you opened a yield savings account, or is it something else?
Do you have a canadian counterpart that you'd reccomend for financial advice?
Hi, I can’t figure out how to do this in Europe! We don’t have vanguard or similar
I am also in Europe and have the same issue when hearing all the American advices…I don’t understand why there are no financial RUclipsrs in Europe just a bunch of fashion girls 🙄🙄🙄 so annoying
After having a high yield savings account with about 2k in it what do you advise to do next? Everyone says that a high yield savings account is the first step what the next lol
Which high yield bank should i use?
Yes what bank is good to open up this HYSA...
Will do the best and then I will get ask for the best advice!!!!!!!!!!!!!!
Or just buy Bitcoin for less than a penny 😂😂😂😂😂
Exactly which bank is giving “up to 10x as much interest on your savings account?” Name the bank. No high yield savings account is giving 10% right now. This is misleading. I’m getting 5% and that is excellent in this current market.
She didn't say 10%. She said "10 times as much as the national average." As she showed, the national average savings rate is 0.45% according to the FDIC. Ten times that would be 4.5% which is in line with what you're saying: roughly 5%.
@@manaphy330One can also Find a CD that can give that amount for a limited time.
I will tell myself buy bitcoin ,
Wait a second...why did u 'purple out' your hot friends....why do you think i listen 2 u in the first place
Hi, i really like your advice, but do you have stuff or advice for people who can't get involved in interest due to religious circumstances?
I love your advice, but these are not practical for people living paycheck to paycheck.
Putting money in a high yield savings account is practical for everyone who has even a dollar to spare.
So reject your vids, your job is to entertain me, not make me feel bad.
What about people who're not allowed to deal with interest. How can they earn money from their investment?
And who care are you humble are you making an actual difference in your life I don’t think so
I'm 33 should I still do this?