Tag: HYSA
The Dividend Savings Account: M1 Finance Gives Us A New Way to Save and Invest
For years, I stuffed my money in a standard savings account at Wells Fargo, which has a measly 0.01% interest rate. They should be ashamed of themselves. In 2019, I learned about high-yield savings accounts and immediately opened an account at Discover. My favorite high-yield savings account pays 4.10%, an enormous increase from Wells Fargo.…
Selling Covered Calls vs. High Yield Savings: The Best Way to Invest $1,100
I love comparing various financial products against one another, but this one will take the cake. How do you compare the safest option to the riskiest one? So, let’s simplify the comparison: How would I safely grow a small nest egg of $1,100? The easy answer is to put the money into a high-yield savings…
Welcome to the Elite Savers of America: Save $10,000 in Your HYSA
Do you find saving money to be a difficult task? Do you need help keeping cash in your accounts? Well, it’s time to commit to saving money for your future. Welcome to the Elite Savers of America (ESA), where we value saving our money in a High-Yield Savings Account (HYSA) to protect our futures from…
Start Your Season of Saving: Let’s Save $100,000
Do you believe that $100,000 is a lot of money? Can you envision you would ever have this amount of money in your high-yield savings account? If you think this is a lot of money, that is your first limiting belief. If you do not believe you can save $100,000, that is your second limiting…
Getting Started with High-Yield Savings Accounts: Overcoming Your Banking Fears
To investors, a high-yield savings account (HYSA) is the minimum location where they will store their money. However, the average person needs to be made aware of HYSAs. My goal today is to get middle-class citizens the knowledge and confidence to transfer their first $100 into an HYSA. HYSAs are your first step into collecting…
The Magic of 3: High Yield Savings Accounts Hit 3% Interest Rates
It’s been nearly 15 years since your savings account earned a decent interest—what a time to be a saver. Yes, inflation is over 8%, but we can find ways to beat that. The important thing is that high-yield savings accounts hit 3% interest rates. If you are risk averse—now is the perfect time to put…
Why a High Yield Savings Account?
Savings are the backbone of any well-balanced portfolio. Savings are there in case of emergencies and also for the purchasing of high ticket items. I love having multiple “normal” savings accounts, each loaded with $40-$60. These are for micro-emergencies or in case I over-invest for a month. High Yield Savings accounts (HYSA) are another thing…
