I use the Apple HYSA with the Apple Card. It earns 4.4% and I use it to park cash earmarked for future payments. What makes it attractive to me is that you can move money into your checking account in about a day. This comes in handy when scrambling to meet a cc bill that I may have miscalculated 😀
@@LukesPointsandMiles I'm definitely looking forward using my Verizon Visa Signature card exclusively for those categories in the near future and simplifying my credit card arsenal setup!
Thanks for the video. I pay my homeowners insurance. And my property taxes separately It works out better that way. Instead of a high yield savings account.I've been using a seventeen week T bill ladder. Were it is set up that every month?I have a t bill maturing. The interest on a seventeen week t bill is usually right around five point four percent. And t bills you do not have to pay state taxes on the interest earned
Betterment is a great HYSA for me because I'm getting 5% APY, joint accounts are easy to make, customer service is great, and the app is simple/easy to use. I like these other kinds of videos, Unc. Keep it up! 💪
One option you can considered is the ally high yield account. What I like is the bucket option. Where you for example can transfer the 75% of your youtube earnings and then you allocate in the buckets for the purpose you want ( up to 30) , its only one account and you can view in one place your different buckets plus you earn more interest ( money weight )
I've tended to speculate my money on land, gold. Crypto, or stocks. We have a Goldwater Bank opening, I believe with a 4.8% no penalty cd, plus decent returns on checking. I like the idea of earning competatove rates at a local bank.
Great video! Thank you for all the info! I use the Goldman Sachs HYSA linked to Apple Card. The Goldman Sachs HYSA earns at 4.4% currently. I also like to take the cash back earned from my cash back earning cards and park it there until I'm ready to use it. I also keep the money I receive as gifts there. I also take all the bills I pay once a year such as credit card annual fees or other annual subscriptions. I keep that money there until it's time to pay those bills! Keep up the great work! I enjoyed this video!
Hey Uncle Luke, just wondering but do you think C1 buying Discover will have an effect on if a customer has their savings with the 360 Performance Savings or vice versa if they had it with Discover Savings? Thanks for replies! Happy weekend!
Love Ally, not the highest APY but their buckets feature helps me see where I’m at for different goals instead of just having all my money in one big pile. Sofi has a similar set up but I still prefer to have my checking account be with Chase so I wouldn’t get their higher APY
@@Nick-1828 I like Ally's bucket system too. I wanted to open an account with them and use 3 buckets for my kids, but ask the interest gets paid into one bucket. They don't do the interest calculation per bucket; it's lump sum.
Appreciate the video Luke. Personally I love the vids you do on different topics. The constant regurgitation of the same videos by many in the CC RU-vid space gets old IMO.
Nice breakdown! I like how your extra income has a home. The little thing matter and like you said the pennies add up. Right now I just use the G&S that I got from the Apple Card awhile back. I keep extra funds in there to earn something versus just sitting in a regular checking account.
Currently experimenting with the Fidelity CMA and an attached brokerage as a secondary account setup. Keep a nominal amount of money in the CMA to handle check writing and ATM. I like that it’s segregated from the bulk of the money in case someone gets ahold of my account info. Can only get away with a small amount. Also gets ATM fee reimbursement. Both accounts are sitting in Federal Money Markets.
@@LukesPointsandMiles so the deal is it’s not FDIC insured. But in my estimation, if a government debt backed money market ‘breaks the buck’… it’s game over and guns and bullets are the new currency.
Treasury bond ETFs have higher yields, very liquid, and avoid some additional taxes that HSAs incur. A tiny bit more risk and some additional tracking but it’s worth it for me. I use WealthFront and get 5% in my accounts and more when I move them to ETFs. Easy to move funds back and forth plus you have buckets to put savings in for certain expenses like taxes.
Thanks a lot Luke! Funny you posted this, I was in the market for a High Yield Savings Account and was researching which platform provided the best return. Amazing video as always.
Great video Luke! I hope you continue to have success on your channel! Topics like personal finance and points and mile with CC is always interesting to watch. Your content and streams are great, keep it up!! Like you, I use saving accounts for specific purposes (Taxes, Emergency Fund, Vacation Fund, etc.). Everything else goes straight to the stock market. Currently using C1 and Amex.
Being retired and being a Morgan Stanley customer, I use their high yield savings for my dividends and capital gains rollovers. They are currently yielding 5% and it is easy to move the money to the attached checking account when needed. This is my money to live on if the market goes down, my emergency fund, where my taxes are paid, etc.
Side hustle income can be used to invest more, buy things for your children instead of waiting until your death to pass on your wealth, home repairs/improvements, and just general savings. I just save additional and will figure out whatever to do with it decades down the line.
@@Lifeissorich. I like the way you think. Right now most of my side hustle money goes to showing my son the rest of this beautiful planet! Well and saving a little
I do the same thing with Capital One. I’ve got probably 8 savings accounts for expected but not regular costs (taxes, vacation, car maintenance, etc). Easy peasy. Be sure to have a checking account too because my Credit Union will only transfer from Checking acct to check acct.
Open an M1 or Charles Schwab account with dividend ETFs. 33% VOO 33% SCHD 33% DGRO. Set it and forget it until you're 60 yrs old. You will be happy you did. Not a financial advisor.
If you have an Apple Card, then you can automatically deposit your cash back into a Goldman Sachs HYSA. Not the highest APY around, but at least your cash back won’t devalue or remain static. Speaking of earning money and not doing work, some people have said that trying to time the stock market is a losing proposition. Extra work to try to get something that is far from guaranteed. It’s all about “set it and forget it”!
