ilmscore | Prediction Details
"right now there are a lot of banks paying upwards of 5% a year in interest on your savings it's always an interesting conversation when I meet High income people that have hundreds of thousands or close to a million dollars in the bank and they ask me what should I do with my money and I ask where is this money sitting and they say it's sitting in a Bank of America account earning 0.03% a year in interest and the first thing I say is well why don't you consider moving some of this money into a high yield savings account because it's FDIC insured it's a regular Bank the only difference is now instead of getting 0.03% you get 4 to 5% because 5% a year in interest interest on $10,000 is $40 sitting in your account extra a month 5% a year on $100,000 is an additional $400 sitting in your account every month just because you put your money into a high interest savings account"
By Minority Mindset | July 2, 2024 | Pending
From video
How To Save $10,000 ASAP (10 Ways To Start Today) 00:03:54 - 00:04:42
Interpreted Prediction
Move savings to high-yield savings accounts, which currently offer around 4-5% interest annually, significantly more than traditional bank accounts.

Prediction Details

Topic
High-Yield Savings Accounts

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