Putting your money into a savings account is a terrible way to make passive income. The bank might pay you around 0.01% on …
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Putting your money into a savings account is a terrible way to make passive income. The bank might pay you around 0.01% on …
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36 comments
0.01% on your 10k is criminal
How does this have 114k views!?
You can easily get more than that in a savings account
So many banks offer 4-5% interest on savings accountsβ¦do your research and grow your cash
5% HYSA
$100 is 1% of 10,000 not 0.01%
I have 35 cents from my interest! Thatβs very nice of the bank to give me. If they gave me more i would feel terrible! How would they afford the biggest buildings in every city, how would they pay their CEOβs millions up millions. How would they have the nicest furniture known to man. Iβm happy to get a few Pennieβs to provide support for all that.
This is unrealistic, most banks (at least in the UK) donβt pay ludicrously low interest rates to your savingsπ
I have a 4.25 apy high yield savings accounts
This guy's a fill-in-the-blank. Not only can he not do math, but if you invested $150k in Chase shares, you'd get $3,465 a year in dividends at their 2.30% dividend, which he also got wrong. Whereas if I put my $150k in my high yield savings account at 5.25% interest, I made $7,875 in interest, which was $4,410 more. Making that more than double what he made on his investment with zero risk because my money is FDIC insured, and there's no guarantee their share value will increase.
I can't afford to lose any money. I need an investment with no risk. Technically, im losing to inflation. Any no risk investment ideas besides cd's?
Savings accounts are VERY important. Sink funds and emergency funds.
Only fools invest everything they have!
Be sure as soon as the mkt is down, you lose your job, and refuse to take a loss on your stocks. You. Are. F*d.
My dad said this in the early 90s
Recently took my money out the market and put it on my savings. The market scares me.. after 6 years only made 5k, the same i make a year from my savings Ally bank
Someone failed math class apparently itβs 1 dollar a year not 100
Hummmmmmm
My dad has 3OK
High yield savings accounts currently give 4.25%-5% and are risk free unlike buying stocks for dividends
I currently have around $250,000 in cash savings and I was advised to invest it in stocks. What long-term strategies should I use for investments to secure my financial future?
Shout out to everyone dumb enough to not have a good savings account.
$100 is not the .01% of $10000.
Still low and that math
I am a beginner in this thing, how am I suppose to learn how to invest my money without losing any ?
YouTube finance gurus at it again lol
Terrible advice… you should invest in index/mutual funds instead… slow and steady. There's a reason Warren Buffet said that 99% of investors should not even attempt to beat the market.
SOMEONE IN ROBLOX DELETED ALL MY BEST SAVING ACCOUNTS
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
My current passive income is 4.5% in dividends, 5% on interest.
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?
Citi bank savings pays 4.3% right now. So NOW WHOSE JEALOUS? πππππ
I would send this to my family that bank with chase but it would start an argument.
Cool hes getting a dollar from bank every year
yeah parking all your money on a single stock isβ¦.. 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
This guys doesn't know how finance works… and every second into the video shows more and more that he is a bit crap at math and doesn't know how any of this actually works and has just seen some crap youtube videos about it.
Terrible financial advice honestly
The sheer genius of banking. They use YOUR MONEY, lend it out to dumb suckers for 6% and up whilst giving YOU 0.01% for the privilege of you lending them YOUR MONEY. Pure genius.
I was waiting βhow do u do itβ