Why no one has savings accounts anymore! 😬📉
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- Опубликовано: 12 фев 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
@@chazzzyfat it's 1
Who’s gonna tell him that he is making $10 a year and not $1
@@chazzzyfat its 0.01 not 0.1
@@chazzzyfat 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@@Prazcabut rise of kingdoms kind of outdated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
I am currently holding north of $250,000 in Cash in bank making me around 5.15% currently. I was advised to invest in the stock market as its good for passive income and high returns. but right now I need strategies to invest to secure my financial future
Be sure that the stocks your'e buying into have market-beating yields and they pace with the market long term. It's best to seek guidance from a broker or financial advisor to gain clarity and guidance because the market is very volatile.
Opting for an inves-tment advisr is currently the optimal approach for navigating the stock market, particularly for those nearing retirement. I consulted with a coach when I needed to invest my $120K savings, and my portfolio surged by nearly 85% in 6 months.
Opting for an inves-tment advisr is currently the optimal approach for navigating the stock market, particularly for those nearing retirement. I consulted with a coach when I needed to invest my $120K savings, and my portfolio surged by nearly 85% in 6 months.
hiring an investment advisor is the best approach for navigating the stock market, especially for those approaching retirement. When I needed to invest my $120K savings, I consulted with a coach reffered by my wife, and my portfolio increased by nearly 85% in six months.
Could you please share the contact information for your investment advisor? I'm in urgent need of someone to help me invest some money I inherited recently lying waste in the bank
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 😔
@@USsoccertalks😂😂 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 😹😹
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
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 📉😂
@@_permanenceover time it goes up 🥶
This is why people who don't act to something will not get anything. Brother you deciding the future. What are u? A God?@@_permanence
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
Have you heard of roth IRA or 401k? Come on now.
I'm making 4.5% Actually the yield is 4.493%. And seeing the profits roll in, yes its taxed but I'm still making money on that. Plus the shares i hold... i know I can comfortably live off of dividends. Is that a bad thing?
Also if I have 1,000,000 l. I pull out 60k for the yr. I still have 940,000, plust 4.5% plus the average gain in stock price. Do the math.
All profits made by trading are taxed
Moral: Don't be jealous and this wont happen to you :)
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
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.
$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 was waiting for “where did you learn this”
My whole country have saving accounts bro… 😂
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.
For the whole of 2022 Savings Account in Ghana only gave us 10 Percent per Annum Wow.
Removing metal cards is a big L
L
I just heard some words 😂😂
My current passive income is 4.5% in dividends, 5% on interest.
yeah parking all your money on a single stock is….. bold.
get a fidelity cash management account and have your check deposited straight to it and get like 2.7% interest and then invest straight from that account. You can even get a debit card for it and set up bill pay. Not a huge fan of using banks and definitely not a fan of buying bank stocks, just not something I would personally want to hold especially with the high profile cases of banks committing fraud to raise their share price.
but if you are thinking about this kind of stuff your head is in the right place
High yield savings accounts currently give 4.25%-5% and are risk free unlike buying stocks for dividends
How is you shares now?? In the shit ??? Dont they ??? Hahahh
Amex pays me 4% and isn’t at risk of the stock price going down
Big facts
Bro hit em with an Uno reverse card
"Chase pays me 100 every year"
*Inflation entered the chat*
1 dollar *
When he said huh he soundled like a villager from Minecraft
Me: turns away
Him: Hum
Me: Villager among us
Some online banks does 1%
Or get a 36% return on any private loaning service in mexico
I would send this to my family that bank with chase but it would start an argument.
Yeah but how do you know which company actually pays their dividends. Not all do
Bro, who's gonna tell him that there are credit unions which will pay him 4-5% interest on the first 25,000-50,000 dollars? And 1.5-3% on everything after that?
Call an ambulance but not for me
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
So many adult words to Google. So much stress. Return to childhood
I think the word that they’re looking for is envious
The only good thing is that one can sleep quietly at night while Business goes on as usual as 2023 progresses.
Great tip!
Meanwhile one has liquid assets and security while the other is just praying the market stays up enough to get him his 2% dividends.
Him: Now are you jealous?
Me: No because I don't know the fuck that means
Good learning - I like it 👍
Someone failed math class apparently it’s 1 dollar a year not 100
In India we get 5-6%
10k @0.01% APY= 100% I failed math class.
Also yearly inflation be like 📈
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.
I was waiting “how do u do it”
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.
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
what bank gives only 0.01% per year?💀
Citi bank savings pays 4.3% right now. So NOW WHOSE JEALOUS? 😂😂😂😂😂
I just learned about high yield savings accounts at something 4% APY. It ain’t much but it’ll help offset inflation
My bank give me a 5% a month on my money 💀
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.
Because buying index funds does better😂
It's not jealousy it's envy
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
Shout out to everyone dumb enough to not have a good savings account.
Bro's getting 100 dollars a year💀
One dollar a year with correct math 💀
Bro, got the same glasses as me
Mine pays me 6.0% APY every month on the 1st
Boeing employees credit union
$100 is not the .01% of $10000.
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
Jokes on you I get 5 percent a month in my savers
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
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
Wow. .01% is insamely low. In romania we have like 7% on deposits
“Cuz” “baby” 😂😂 who talks like that
my bank pays me 5% a year... :)
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 RUclips 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.
I have 8k and getting 7% interest
Where is that?
$2K, $20 a year=100 goddam years
Terrible financial advice honestly
It’s pretty ridiculous how low % are for savings accounts go with sofi 4.6% and insured by fdic up to 2 mil
Man 1:wait your not jealous. Why?
Man2: IT IS ONE OF THE COMMANDMENTS NOT TO BE JEALOUS!!
100 years=1% bonus💀💀💀
and one has insurance and one doesn't.
So what happens if you have a $10,000 emergency but all your savings are in stocks?
yall pls never if your in New York do not go to citi bank
If I have money then will never save in the bank; will just buy real estate ( house; car or gold)
Na bro ima Walmart bag
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
Me: Mom can we go to Primz
Mom: We have Primz at home
Primz at home:
The Indian banks paying between 5-7% 😂
To this day he never responded 😂
SOMEONE IN ROBLOX DELETED ALL MY BEST SAVING ACCOUNTS
Bro gets paid $10 a year 😭😭💀💀
Chase in UK pays 4.1%
lol I got the same lighting bolt in the background and i got it for 2 dollars
Chase pays 3.1% interest on a UK easy access savings account up to £250,000.
Me in thailand: 3.25%, but you can't withdraw it for 5 years, take it or leave it.
Alternate title: "This is what idiots believe and how most of them end up losing their money."
I'm new to banking can someone explain current accounts
Aww that's cute he only gets paid .01% in interest in his bank in savings account while on the other hand he's getting 2% in dividends.
Me: i get paid 3 to 6% baby a month with my savings account.
"How much do you have in your savings?"
0$ OK bye now
Have both one is investment another is savings
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.