Put $250,000 (the FDIC limit) in a high-yield savings account earning 5.25% APY, a rate way better than at a national bank.

Most of my money is in a total market index fund at Vanguard. I'm saving this $250k for an investment property I plan to purchase later this year.

I've used TD Bank my entire life, because my parents made me an account when I was a kid and I never had any issues with it. But their savings account has an interest rate of 0.02% across all balances. I've always known that's bad, but I never realized how pitiful it was compared to other cards.

My Fiancée uses American Express, which has the second-highest I've ever seen, is listed as 4.25% APY, no minimum balance necessary (compared to many other banks I've seen, which require a minimum balance of $100,000 or so).

I'm considering opening an account with AMEX and moving my entire savings account with TD to an AMEX HYSA (keeping my personal checking account with TD Bank because I might as well). Thing is, this feels a little too good to be true. I know HYSA have more rules than a simple savings account (namely, you can only make so many withdrawals per year so it's hard to get access to your own money if you need it in an emergency), but given that I've only had to touch my savings account once in over ten years, I don't think that will be a huge issue for me.

Is there something I'm missing for why I shouldn't completely jump ship and move tens of thousands of dollars from TD Bank to an AMEX HYSA? Hidden fees or gotcha's that might screw me over?

Has anyone used AMEX and other banks, and if so, how do you think AMEX compares?

My uncle sent me a link to set up a high yield savings account for American Express, which I will set up soon with my mom

I make a decent wage. But I want to upgrade. School isn’t in the cards for me right now, no matter how badly I want to go back. I’ve been trying to do online certifications to make myself more valuable in the workforce but I feel like it’s all going to be for nothing.

I would love to make at least 100K a year but I know that’s not realistic unless I get a degree or come up with a good business idea.

So to those of you who only have HS diplomas. How’d you do it? Is it even possible?

Edit: oh wow! thank you all for the responses!

My bills eat up 95% of my paycheck, and I'll need to save about $2000 to be able to afford to go. Haven't seen friends in a while and I really wanna go but idk how I'll be able to do it, it's damn near impossible to find a part time job in the summer nowadays

Recently, I got my first job out of college. It pays very well, the hours can get long, but I make $83k salary in a LCOL. I take home about $5k a month.

I should also note I have no debt, $55k in cash savings in a money market mutual fund, $20k in my 401k (mostly ROTH) and a paid off 11 year old Honda I intend to drive until it dies. I don’t need a new phone or computer either since I just replaced those.

I’ve always struggled with valuing my free time. I’m relatively frugal, still live with my parents, and I am actively trying to save towards a house.

I’m trying to decide what the magic number I will take to sell things on eBay is. My free time is “technically” worth $0 but here’s what I could be doing instead of selling items:

1. Spending time with friends - a long term goal of mine is to find a significant other
2. Financial planning
3. Organizing/cleaning/detailing
4. Going to the gym - a long term goal is to be very fit
5. Shopping for food, trying to find better clothes/shoes since my style isn’t fully up to date
6. Home improvement projects for my dad, financial planning stuff for my dad, insurance planning
7. Doing extra work to be ready for work the next day
8. Career planning/research - a long term goal of mine is to be a finance manager

I make no money doing these things. I’m trying to figure out what DOLLAR amount is worth it for me to continue selling on eBay or not. I’ve got past the learning curve of selling. I’ve sold over 250 items, and I never really viewed it as a part time job in college but it was such a distraction from my studies back then.

Once the item is listed, it’s up, and I have to put it in a storage tub until it sells. Then I have to pull the tub off of the wall, pull out another tub to get the scissors and tape, then print and tape the label after purchasing it.

Work is going to ramp up and I find selling a $3 or $10 net item annoying because I view it as an ad-hoc request outside of my normal working hours. I’d rather be doing other things but I value the space and the money I get from these items. I have some items I have sold but haven’t shipped them out yet and that is making me anxious right now.

How do I find out the value amount of my time outside of work, and how can I be ok letting go of things in this context? Should I find a dollar amount that works for me?

I also don’t want to store items forever or “until it sells” and I view selling as a project that needs to be completed.

My grandfather died yesterday while on vacation and we're all trying to scramble and get things done and ready for my grandma. I've searched the entire house and garage and gone through every piece of paper I could find. I cant find anything about a life insurance policy on him, only my grandma. I also have had no luck finding a will. I've called my local court house and asked and they say they have nothing either. We're not even sure if he has a will or life insurance policy. I'm just at a loss and don't know what else I can do or where I can look. Any help is appreciated, even if it's a link to a different page.

25 years old, using my VA home loan. Just curious if it makes sense to buy a home, or wait for the market to subside and just rent?

I’m making 70k yearly, and pre approved up to 240k

Just wondering lol.

I have more than 200000 and I want to invest without worrying about anything, is that okay? Any advice?

I make very good money for my age but simply don’t know what to do. I am 25 and have been making about 100-130k since I was 21. I put 12% of my income into a 401k with a company match of 6%. Current balance is 170k. Roughly 75k liquid just sitting in a bank account . My only debt is 130k on a mortgage on a house I bought for 220k 3 years ago. Paying the 1300 a month + an additional 500 a month just to principal.

I simply don’t know what I should be doing with my money. Been debating if I should start buying rentals, should I get a financial advisor to throw it into the stock market? Should I pay off my mortgage as fast as I can?

Everyone where I work stays there until they’re 55+ and retires but I feel there has to be a way of investing/saving properly to be able to retire before I’m too old to enjoy my retirement.

Thank you for any tip/advice

So as the title explains. The property is a garage, which now is rented for using as a carwash service. They earn a lot of money with their business so I even have been thinking about how to do the business myself while not being there but it does feel like a jump in the deep. The contract is about the end and his cousin is wants to take the business over. We also never indexed the rent (6 years) cause we felt guilty cause of the times we were (are) in. He wants to buy to either rent or buy the property for 400k/431k. It is fast money but the rent gives more longevity if we don’t find any other means to put it in.

I lost my job recently and have already exhausted my savings on my car note and bills and need to know what I can do to make some money. I’ve already tried to go to local businesses like restaurants to see if I can just wash some dishes or like bus for a bit, and most of them have turned me away. I need to figure out how I can make 200 so I can pay for my rental suit so I can attend my cousins wedding which I am apart of. At the time of when I went to go get fitted I hadn’t been paid yet so they let me just put 20 bucks down. I still owe 200 on the suit and I need to pick it up today or tomorrow. It closes at 8pm and I’ve been trying to figure what I can do all week. I’ve been job searching like crazy for weeks but while everyone is hiring or so they so, I’m not getting hired.

Please for the love of god guys I just need advice. I’m not in any way asking for money, I am asking for advice. I need to know what I can do to make money right now. What can I do?

Geometry of wealth, a surprisingly good book. I think this part - matching your sense of happiness with the balance sheet to fund it, is perfect.

Feeling kind of hopeless with the home search and like my generation is just SOL regarding home ownership. With home prices combined with mortgage rates it just feels unattainable. Anyone have any reassurance that things will get better?

I have just graduated my high school and currently I have want to earn money to pay myself for my higher studies and etc. I have seen may youtube videos regarding this and searched on web all have similar opinions like content creation, content writing, e-books writing etc and I have no skills for creative writing also.I want a few suggestions and guidance from you guys help please.

Help 😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭

My retirement and bulk of my savings is with one of those big investment firms. I recently hit some milestone (300k maybe?) and they started calling me and trying to upsell me on managed accounts.

Historically I took the advice I was given a long time ago to just buy a basic targeted fund and ignore it until I retire. So I have all of it in basic retirement in 2045 funds or something like that.

But now they are saying they can do a better thing where they do a similar but hundreds of different stocks (but actually buy and sell them for me, not a fund) and add in features like tax loss harvesting and buying according to market phases and blah blah blah.

It sounds convincing. They show me graphs claiming that I’d have made 2-3% more gains over the last whatever years if I’d been using them.

The basic fees are higher. And obviously it’s a different risk overall but like. Should I consider something like that? Or is it BS? Or is it definitely good but just not worth their time until I have enough money?

Thanks!

Hello all.

I am 21m, live in Canada, and work a retail position where I make little over minimum wage.

I have been working since 17, and through my years of saving I have around just under $60k to my name.

I have always been a big saver and spend as little money as possible. The 2 biggest purchases I have ever made are my car, and my gaming pc.

As it stands now, my money sits in a normal TD chequing accound, a TD savings account, and about $40k in a Tangerine savings account.

I don't know much about different accounts I can get or how they work, I opened the Tangerine account purely for the higher interest rate but I know it's definitely not the best option.

Any and all advice wpuld be much appreciated, cheers.

I think this bank is scam

27M most of the money lost was from student loans. I was new to trading and traded options. Mostly same week expirations.Most of the time I would deposit 1-2k in at a time and lose it all within a week or so . Rinse and repeat every two months or so. I have learned a lot on the way and currently just got back to having time for trading/investing after going broke and taking about 1 year off from even thinking. About stocks. I am taking a more conservative approach this time . I have a job with a 55k/yr salary. Any advice or investment approaches would be greatly appreciated . Always open to Learn new things and information.

Hi,

I'm looking for some advice on ways to improve my finances. A little bit of a backstory (keeping things somewhat vague just in case):

• In my 30s. 2 kids (one disabled) and a partner. Because our youngest is disabled, only one of us has worked since they were born (almost a decade ago) so the other parent can watch the kids.
• Bachelor's degree, great paying job ($130,000 annually).
• Neither of us had/have much help from our family. When our disabled child was born, we ran into some financial hardships. Then the pandemic hit, and we had to move across country. That all put us in a tough bind over the years and I've had to take out a number of personal loans out to keep things afloat.
• Since last year, we're back up and running okay now, but if any sort of emergency arises, we wouldn't be in the best spot.

Here's our monthly (estimated) budget:

• $3,078 - Rent (is anywhere cheap nowadays for a family of 4?)
• $425 - Utilities (electric, internet, renters insurance, etc.)
• $667 - car loan (we splurged on a newer SUV since our old one wasn't as safe for our kids/too small for the family)
• $260 - car insurance
• $20 - life insurance (for me)
• $218 - phone bill for the family
• $100 - 3x credit cards (were maxed out, now making over-the-minimum payments per month to bring them down)
• $60 - entertainment (streaming sites, Spotify, etc.)
• $1562 - 5x personal loans (the big killers for me. These vary in interest rates from 11.90% to 35.79%. Some from my credit union, others from lenders.)
• TOTAL MONTHLY EXPENSES: $6,390 (rough estimate)
• REMAINING BALANCE AFTER EXPENSES PAID: $1,492 (rough estimate)

$1,492 leftover each month sounds like a lot, until you factor in gas, groceries for 4 (most of where our money goes outside of bills, honestly), the occasional new clothes for the kids, food for our pets, etc. It's more or less $750 per paycheck to spare every two weeks. Not a lot of wiggle room to save.

Aside from the big moves like trading in our vehicle for a cheaper one (my partner would rather skip two meals every day than do that), what would you guys do in our situation?

Since money is never talked about amongst adults or in school I’m honestly unsure if I’m doing okay for myself. All of my friends are in college, so they’re inevitably going to be in a much different financial situation than me as I’m not in school. I’m unable to compare/ comfortably ask them questions about their finances bc our spending habits and debts aren’t the same. Anyway, I have 11k in saving and <5k left in principal to pay off my car loan… anyway I just wanna know if I’m doing alright for my age, thank you in advance

Between both my wife and I, we have about 12k in consumer debt. Both of us are putting in 10 percent in our 401 k. (Our companies each match up to 3 percent). About 8k of the debt is from an interest free CC (no interest until August 2025) and the other the other 4k is from a regular Visa card with 20 percent interest. Should we lower our 401k to three percent, or just keep on this same trajectory. I want to get rid of this debt, but i don’t want to rob ourselves of any money in the future. Side note, i make about 55k and my wife makes 60k.

What would happen if the entire world adopted a single universal cryptocurrency?

Pros/Cons? Thnx

The average price of a house now a days is like 400k how can I realistically save up that much? How much a month do I need to save? Or is the dream of being normal to far fetched lol. If I save double what I make now every month it'll be 16 years before I have enough and by then I'm middle aged and on the way out.