 What is going on everybody, it's Stas here, welcome back to another video. So in this video, we're gonna be talking about the top three high-heeled savings accounts that I like heading into the year of 2019. And this is a video that I've been wanting to make for a while now, just to show you guys how much money you could be making in terms of these three savings accounts, compared to the traditional savings accounts that really make you very, very minimal amounts of money over the span of a year. And these are savings accounts that I'm really baffled that people are still using because these three that I'm gonna be showing you are FDIC insured, right? They insure your money up to $250,000 in the savings accounts and they just offer really, really solid annual rates that really fight the rate of inflation, which is something that we want to see in terms of a savings account. So we're first gonna start by taking a look at these two low-yielding savings accounts and then we're gonna compare them to the three high-yielding savings accounts that I'm gonna show you guys. So stay tuned for that, guys. Drop a comment, leave a like, subscribe to the channel and let's hop into my computer and start with this video. So the first account that we're looking at right here is the Wells Fargo savings accounts. And the CD, but this is not really about CD, we're mostly focusing on savings accounts. So let's take a look at this one. So this one, Wells Fargo way to save savings account, $25 minimum opening deposit, $0 balance or more, your interest rate is going to be 0.01% guys, 0.01%. That's pretty much nothing, right? You might as well just get nothing at that point, right? And you know, this one here, you see the balance of zero to $24,999, you'd be getting that same interest rate of 0.01%, bonus interest rate of about 0.06%. And let's say you have $25,000 more dollars or more dollars, you're gonna be getting a little bit of a better interest rate here of about 1.49%, bonus interest rate of 1.54%. So special interest rate for the last 12 months and requires 25,000 new funds deposited to the account from sources outside of Wells Fargo or its affiliate. So I'm guessing that's for the $25,000 or more one. And this is the platinum savings account and you know, very similar rates to the one before, but if you have $250,000 or more, your interest rate is going to be 0.05%, 0.1% bonus interest rate. So again, pennies on the dollar is what we're talking about here compared to the top three that I'm going to be showing you guys later on in this video. So let's hop into a different savings account that offers a very low interest rate. And this one is TD Bank. I'm sure a bunch of you guys know TD Bank, maybe not everybody out there knows TD Bank, but this is a very popular bank in my area. And this one offers, you know, TD everyday savings account, zero to $999, your interest rate is going to be 0.05%. And that's pretty much all the way down to $60,000 and over. And they also offer their own version of a high interest rate savings account. And that is only a 0.5% yield for pretty much anything over $5,000. And then they have a TD E premium savings account that's offering 1.2% on anything over pretty much $10,000. So 1.2% is the highest they offer. And Wells Fargo is about 1.54, 1.55% is the highest they offer. And what you wanna look at guys, you know, most importantly with your savings accounts and your checkings accounts is that they are FDIC insured. This is very, very important guys. And this is something that was talked about in this new Robinhood checkings account that came out, which is not, you know, FDIC insured. And this really scared many, many people from going that route with Robinhood. I'm not too sure what's going on right now. I think it's like a cash management account now or something because you can't really consider the savings account right now. There's a bunch of weird implications that go on with Robinhood, but just to sum it up very quickly, you know, Robinhood made an account that a checkings account that, you know, is gonna be yielding 3% per year, but there's a bunch of implications that's going into that right now, having dug too deep into that. But if you guys wanna take a look at that to search Robinhood 3%, I'm sure many, many of you guys already know about this, but that's not what we're gonna be talking about in this video, but let's just take a look very quickly at what FDIC means. So FDIC, Federal Deposit Insurance Corporation, the Federal Deposit Insurance Corporation is United States Government Corporation providing deposit insurance to depositors in U.S. commercial banks and savings institutions. So very simple, $250,000 is what most of these, you know, insure your money up to. And that's just like a safety blanket for anybody that wants to put money in savings accounts, in checkings accounts, and just put money in banks in general, right? This is something that's very, very important. And, you know, it really is the main thing that you should be looking at when you're deciding to pick a bank or savings account other than the yield, you know, the rate that you're getting annually. So let's talk about the top three savings accounts, high-yielding savings accounts that I like, heading into the year of 2019. And we can start off talking about Marcus by Goldman Sachs. And this is a bank, you know, obviously, we know Goldman Sachs, right? One of the biggest investment banks. They have an online savings product called Marcus, right? Marcus, and we can see straight off the bat, this one offers a 2.05% annual return for their savings accounts. And they have a nice little diagram here comparing it to the other banks, right? We saw Wells Fargo, 0.01%, City Bank, 0.04%, Chase, 0.04%, Bank of America, 0.06%, annual yield. So that's ridiculously, you know, that's ridiculously higher than all of these other banks that we're seeing. And, you know, pretty much guys, one dollar minimum is what you need for this, right? You can see it right here. One dollar minimum to earn stated, you know, annual return. So, you know, you can open this account, guys, literally put in $5 and you'll start, excuse me, and you'll start getting this 0.05%, excuse me again, per year, right? So start saving now and earn four times the national average. Don't just store money, make money. The whole entire idea here, guys, is to beat inflation, or not really beat inflation, but keep up with inflation with your money that's stored in the savings accounts and, you know, in the checkings accounts, right? Mostly we're talking about savings accounts here. So, you know, very simple, guys, this one's 0.05%. Not much more to get into it with this one. It's FDIC insured up to about, I think, $250,000, like I said earlier. And just take a look deeper into this one if you guys are interested in a more higher-yielding savings accounts, savings account that pays way, way more than traditional banks. Now, to take a look at the second one is Ally, right? Ally Bank is one that offers a 2% annual yield. And this is one that's very popular amongst the personal finance world here, people that are really interested in finance and in banking and in savings. This one is really, really good, really good online savings account. And we can see here some of the main features of the Ally, you know, online savings bank is the interest is compounded daily, right? You earn a higher rate than traditional savings. Obviously the FDIC insured is right here. No monthly fees, which is something that you should be looking for as well in a savings account. You don't really wanna be paying monthly fees. And you know, online and mobile security, you know, the online platform is absolutely amazing for this bank, very accessible, very easy to navigate. And it just makes things very, very simple. So online savings guys, let's just take a look at these. Let's look at, you know, the view details tab very quickly so we can see some more, you know, in depth for, you know, the Ally Bank savings account. So earn 20 times a national average with interest compounded daily, FDIC insured, no monthly maintenance fees or minimum balance requirements. You can make, I think it's about six transactions. Keep in mind with this type of account there's a six transactions limit per statement cycle. And I believe that is per month because that is how the Goldman Sachs Marcus one is as well. You can pretty much just transfer money, I believe six times a month and you could take it out only six times a month, right? So, you know, these savings accounts, they're not really meant for, you know, pulling money out all the time, right? That's why it's considered a savings account. The whole idea is to put money into this every single week so you can avoid making more than six transactions because if you put money every single week that's only about four transactions per month and you're under that limit here of six. So be in mind of that guys because when I was actually younger, when I was like 16, 17, and I had a bank account, you know, under my parents, you know, I made this mistake, the savings account mistake of, you know, making like a ton of transactions per day, not per day, but per month and I pretty much got fined for doing more than six. So I learned my lesson there, but just keep an eye on, you know, these six transaction limits per month, very, very important. So 2% here, you know, 2.05% for the Marcus Goldman Sachs and this final one I'm gonna be showing you and it also has a little calculator here that we can play with is the one from American Express and this one offers a 2.1% annual yield for their savings account. So very, very solid and it's obviously just like the other two, higher than the traditional banks that we see. So let's play with this little savings calculator so we can see, you know, how much money we can make with this 2.1% over a span of a couple of years. So since it's already set to $5, let's start by use, or not $5, five years, let's just start by keeping it there with the initial deposit of $1,000. Let's say you put $1,000 initially into this savings account with a recurring deposit meaning that it's pretty much automatically depositing more and more and more money into the savings account on a weekly basis. Let's say you're putting money on a weekly basis of about $100. Let's see how much it's going to be in five years and you'll be able to see here how much interest you earned on that initial deposit and your recurring deposit and the estimated future value of, you know, what your money is going to be in five years. Let's take a look at that. So if you were to initial deposit $1,000, put $100 every single week from your paycheck, if you're working a job, you own a business, you do whatever, right? You're going to have an estimated future value of $28,488 and the high yielding interest rate and the compound interest is going to give you $1,500 extra on top of that that you initially deposited and the deposit that you're, you know, recurring. You know, over the span of five years. So this is very, very solid guys. If you were to put the same amount of money in one of these Wells Fargo city bank accounts, TD bank accounts, I can guarantee you that this number right here would be literally like $50 to $100 and you'd be earning much, much less on that money that you're, you know, weekly depositing into your savings accounts if you were to be using those, you know, lower yielding accounts. So just to sum up the video guys, using high interest accounts is a great way to fight against inflation and make money on top of your money in your savings accounts. Very, very important because the ones that we've seen here, right, these offer very little amount of money unless you have, you know, 10, 20, 30, 40, $50,000, which a lot of people don't have at first, right? This video is mostly for people that are looking to start saving with a smaller balance of money and make money on top of that, starting out with that small balance of money, right? Because we've seen here that these offer, you know, they offer 0%, 0.5% if you have a small amount of money, 0.01% rather, 0.05%. But these ones, they don't have a minimum deposit. You can literally start with 500 bucks and be earning 2% on that on the annual basis. So for me, guys, since they're FDIC and insured, they offer over a 2% annual yield. This is an absolute no-brainer to use these compared to what we see here. Wells Fargo, Citibank, TD Bank, all the ones that we talked about. So I hope you guys enjoyed this video. If you did, feel free to drop a like, leave a comment, subscribe, follow me on Instagram and Twitter and join our Discord group chat as well as our Facebook group. All of those are linked down below in the description box and let me know what you guys think about this. Do you guys use any of these investment or savings accounts here for Marcus, to Ally, to, you know, American Express? I would love to know, what do you guys think about this video? What do you guys think about the topic in general? Drop a comment. I would love to chat with you guys. I'll catch you all in the next video. Peace out.