?The High Yield Savings Account TRAP ??

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Title	:	?The High Yield Savings Account TRAP ??
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I get $3000 a month interest in CDs I just don’t want the risks of stocks
Comment from : Jim Bob Jim

LOL Good luck dude
Comment from : Mark Anthony

I have both a HYSA and I invest in the market Take that federal reserve 🤣
Comment from : Rene Lopez

It's still a smart move compared to putting it in a bank with 001 to none apy And charges you monthly fee if you are below a certain amount
Comment from : Rie ver

That’s cool but NOT putting there regardless of investing or not is the wrong move
Comment from : Mike Batista

is this what you’re teaching in school, professor? LOL
Comment from : Alex

If you consider 3-4 “high yield”,brLet me introduce you to Raisin
Comment from : takenusername

Bad info and click bait
Comment from : Charles A

It’s good if you wanna make money off of your emergency fund while still having access to your money without high penalties if you withdraw it I have 5k set aside for emergencies and recently put it into a money market account I can have it back in no more than 3 days if I need to use it Not a bad trade off
Comment from : Jesse Sward

For Short term savings goals is good For long term, I would do other kind of investments
Comment from : Seyry Borjas

Banks do NOT invest your money in the stock market Stop lying brbrThey loan out your money
Comment from : Oscar Rodriguez

This advice is horrible For 1) he doesn't know the difference between a HYSA and CD, and 2) he is literally telling you to put money that you intend on SAVING and saying to INVEST it You don't invest money you need in a savings account This is basic stuff You do need to invest, but that is separte from funds you need to have saved (like an emergency fund) You would never invest your emergency fund The best place for an emergency fund is a HYSA (not a CD, they are different) Don't follow this idiot
Comment from : human_abstract

Some people don’t have the time and knowledge to do that And can’t afford to lose it if they lose
Comment from : Undefeated Seem

you can park your money in a high yield savings account until you find a good investment opportunity!!! REITS! or for an emergency
Comment from : Mari Red

Yes because we all know you have to either invest 100 of you money into the market OR into a savings account It's impossible to to both brbrWhat a joke
Comment from : Nicholas Aybar

It’s not a trap It’s best to diversify your income Invest & put some in a HYS account
Comment from : Designer Eats

this is the dumbest advice I ever heard
Comment from : iKnowHipHop2

I just put money in both
Comment from : Sharon Cohen

i am doing bothsucka
Comment from : gaucho mendez

Following of course but please help guide me with what to do with my wife's sitting 401k with 35k in it I would love to roll it over into some type of Roth IRA if even possible or if recommended to allow it to grow without the threat of future taxation No longer working with that company FYI
Comment from : Frostacious

The world is currently going to hell in ways we have never seen I honestly have little faith the market will ever rise like before as we continue to suffer the financial implications of global warming Good for you if years from now business is once again booming like pre-2021 but I will stick with my savings account
Comment from : residentevil4life

And how does this work out when China bans Apple (today) and socialists and short sellers force the market further down and crooks file bogus lawsuits over buried lead cables, talcum powder and weed killer? Every successful, profitable company is under attack to destroy western economies Big oil bad, but successful Tesla now bad Invest carefully
Comment from : Laslo Egri

You made putting your money into a high yield sound like a terrible idea … I’m so tired of you fake finance gurus
Comment from : Rony Laguerre

What are some good solid ETFs recommended?
Comment from : Dirty Dog Mechanic

Did I miss how it's a trap?
Comment from : Fred

Okay I won’t buy a CD 💿 😊
Comment from : EdG

Thanks for pointing it out
Comment from : therealchich2

Maybe people do it because IDKbrThe money is insured And we can't all afford to gamble it away on the stock market 🤔
Comment from : Jesus Garcia

They don't get my money for a year THEY PAY ME 4 FOR 3 AND 6 MONTHS AT A TIME
Comment from : Aurthor Hogan

So much miss information
Comment from : Sunshinee2019

My guy, CDs and HYSAs are completely different things CDs are a terrible idea But HYSAs keep your cash completely liquid, unlike your stocks
Comment from : Mark Coll

CD and high yield saving account are not the same brbrCD requires you to keep your money in the account for certain period of timebrbrHigh yield saving accounts allow you to withdraw money anytime you want/need to
Comment from : Jing Bay

Stupid advice we're not in a down market at all The dow Jones is only 5 away from all time highs today and the S and P was at an all time high just last month
Comment from : matt barnes

Don’t save ur money buy some virtual properties that might virtually collapse ur real money virtually disappear … says him
Comment from : Elg Hass

This is very incorrect information
Comment from : Mikey B

Of course banks are making money off of your money, and they give you a litte piece of that
Comment from : Native2458

Name the ETF’s and Solid Companies you are investing in
Comment from : SEVEN7

wait, don't all bank accounts brdo this?
Comment from : Braulio González

bproceeds to puts his entire emergency fund in leveraged options/b 🧨😩🏆🤯
Comment from : Walker Lasbury

"HYSA are traps They are low-risk, low-gain do stocks instead They are high-gain, high-risk"brbr"which stocks?"brbr"Do your own research"
Comment from : Oscar Ortiz

Part of having a diverse portfolio is investing into stocks CD's having a savings accoung having rental properties All of it works together to build wealth Yes sure dumping all of your money into any one thing could lead to disaster Thats why you dip your toes into everything in case one income stream flops you have the others to bounce off of
Comment from : tyler pye

exactly my qqq position up 25 started it last jan 2022
Comment from : AndrewT

SoFi is offering 44, so i have all my left over money in there whats the move?
Comment from : OwninFools

Download market? The S&P is up 40 off the lows
Comment from : Greg Weigel

Love your hair Prof G, It's "high yield" hair
Comment from : Decipher Code

High Yield accounts are not a trap guy If you gonna park some cash why not put it somewhere where it can grow
Comment from : jones

People should have some form of money that is liquid, easily accessible and no downside risk On top of that, if you have a major short term goal that should also be in cash
Comment from : Edwin Alexander

I was just checking and Pakistani banks offer upto 30 😂 on savings account
Comment from : M B

You're still getting that 3-4 percent increase when you weren't gonna spend it anyway Yes the banks use it, but you still have the amount you put in That's how all banks work even with debit cards
Comment from : DarthRaider

Buy gold instead! Precious metals
Comment from : ApplezToOranges

I'm getting 505-510 on a high yield savings account
Comment from : Chris Gaines

What is a "solid" etf? New to stock stuff i been dabbling Lemme know the term ty :)
Comment from : Gost

I don't think this is very good advice Some accounts are paying close to 5 right now and not taking advantage of free money is foolish I trade stocks and see good people get flushed out all the time because they try and catch a falling knife Wealthy people can take risk and gamble because at a certain level of wealth money has doesn't have the same value
Comment from : G Hackney

Why can't you do all of that, put your money in high yield savings and invest in solid ETFs and companies? That high yield savings account sure beats the hell out of the 015 offered by banks like Chase
Comment from : RPaulo8k

this man doesn't know shit
Comment from : arseniclullaby87

High Yield Savings Account is not a CDbrbrCD’s have similar interest rates as HYS but you are required to lock your money for a minimum 1 year and require a penalty if you open it upbrbrHigh Yield Savings does not do that
Comment from : Brandon Ozoria

So its not a "trap" Youre just not gaining on the upside by investing in stocks or an etf Hard to call something a trap when u still receive 5 with minimum to no risk
Comment from : Ducked Off TJ

Look at Nolan!! 👏🏽
Comment from : Tim Bruzzesi

I don’t have the money to throwaway when stocks drop like they do Idk what to do
Comment from : Angelica Vasquez

HYSA are for folks who don't want to take risk
Comment from : Adrian De Robles

I agree with you, but you can't have all your money invested I have my 401K and my biggest piece of money, my IRA invested, but I keep my emergency fund in HYSA for right now If the market drops more, I may invest it thru a brokerage account But $300 a month interest ain't bad for now
Comment from : DTR

THIS IS NOT WHAT BANKS DO!brThis is blatant misinformation
Comment from : Lomv400

Always A CATCH
Comment from : Trang Nguyen

Makes sense but certain online banks like ALLY and AMEX insure up to 250k
Comment from : Nicolas Constantino

Yes, and if you’re saving up for a different type of investment like RE it is also pretty good brbrOr you could just invest that money and buy RE once the market turns Smart to spread the money around
Comment from : Creating Cashflow

Can’t you just take the money out of a high yield savings account whenever you want to ?
Comment from : J

Teach me how Thank you in advance
Comment from : Elizabeth

Banks dont even have your money to hand
Comment from : Black Circle

Your knowledge and advice has opened my mind to generational wealth What will be the best way my kids get my investments with little or no tax payments
Comment from : matthew ciprian

Professor G is the man, he likes sports, has good character, and is good with money
Comment from : Jordan Batka

Tell me you don’t know anything about finance without telling me you don’t know anything about finance
Comment from : uiof1

Are you investing in T Bills?
Comment from : Just Trying to learn something

Be greedy buy buy buy time is on your side Yes it is
Comment from : Thomas San Francisco

dude!!!!! You do a great job on your videos i'm glad i found your channel thanks man
Comment from : Brent Powell

Thank you always for your info Professor G!! Needed to hear this one today
Comment from : Anne A

It's not a trapjust because they are using your money to increase their profits you are using them to increase yoursdont get me wrong, there are other ways to make better profits such as buying low selling high as you suggest BUT trap is not the correct word
Comment from : anonymous

Truth! excellent
Comment from : MK

Is trap the right word? I have my emergency fund in a 375 savings account
Comment from : Rex Randall

I hope my bank isn't investing my money in stocks
Comment from : Michael Friend

I'm about to open one I'm working on a down payment for a housebr In 2 years max I will need soon I think it's best lock up somewhere no?
Comment from : Mother of three

Isn’t it still better than Chase’s 001? I don’t have a HYSA and I got too much money in there thinking I would buy my first home with it
Comment from : Jay Brizzy

I am hoarding cash for a second 🏡 home But it doesn't look promising 😕 I have $100k Would it be smart to invest it in the stock market instead 🤔
Comment from : Armando Weckmann

So I have an hysa for an emergency plus some money planned for a down payment Would it be better to put the extra money in the stock market even though I might need that money in the next year or so?
Comment from : James

Buy that dip! Buy that dip! 💪
Comment from : Michael M

Yes but parking your emergency fund in a high yield savings account is a smart move l
Comment from : Ilya W

Don’t be fooled
Comment from : Investing Simplified - Professor G

Professor,as for etoro?is it a good brokerage platform to start with?
Comment from : joboi libres

I feel it in my bones SCHD will be dipping down in the $60 range coming soon Going to get me a truck a forklift and load up how sweet it is
Comment from : Gary Schmelzer

🫣🫣
Comment from : Crossfit Kindle

Savings accounts are slightly different but actually interest rates go up when the economy is down when it comes to bonds and other fixed income investments, it’s not a scam it’s just how our financial system works
Comment from : James Cliff

Well its still a good idea for emergency funds Most people are not even using the hysa But I agree the sentiment I am also investing alot during this downturn
Comment from : MagikarpLore