Know THIS Before You Open a High Yield Savings Account

These 3 important lessons about high yield savings accounts are ones you need to know so you can benefit financially and avoid potential mistakes.

The TRUTH About the HSA (Health Savings Account) You Need to Know for 2024

we

[mbank]

Thanks for the heads up. So sad and mad at the same time that lRS tax on the little interest earn from commoners but they are letting big corporations slip on their taxes. The rich stays rich and poor stays poor is the gov's doing

[napoleonwilson]

These points aren't covered in most videos related to HYSAs.
Thank you for the helpful video.

[pcpxbotendorastermace]

Even though we get taxed on interest we earn. It`s worth it like you said. I was able to earn over $20 in interest in one HY savings account within a few months. When the money was in my old savings, I only earned $0.20 over 3 years with a 0.01% interest. I learned about HYSA from online and from a financial advisor.

[eljayyee]

No fluff, straight to the point and very informative. Definitely worth the watch with the 3 minute duration

[_charmzlove]

Thank you for this informational video! I had to specifically search for this as everyone speaks on the benefits of HYSA but don’t mention taxes. It’s best to be educated going into it rather than blindsided come tax time

[kimberlysmith]

Thank you for keeping it short, simple, and to the point. Right before this video i stop a previous guy's video because he rambled and the video was 25 min long.

[jenkies]

This is great info I wouldn’t have thought of. Thanks for sharing!

[QEsposito]

Thanks man, def subscribing. I’m trying to educate myself on where to park money, and while there are a thousand videos out there on financial products, many of them are bloated and long. Your method of being concise and valuable is rare.

[owlscoffeecats]

Just found your channel. Nice and calm, no crazy edits/ and annoying extras. Really appreciate this. Great video!🎉

[Lucildor]

This is such a straightforward video! Thank you so much, those points are not talked about enough.

[t.morris]

Great Information! Thanks for sharing.

[tacrewgirl]

Thanks for telling us about the 1099-INT for interest earnings more than $10/year.

[christinak]

Thank you for covering topics that other financial youtubers haven't. I learned something new today thanks to you!

[terrancepinkney]

Brotha this video is right on time! I'm opening a HYSA this month and was starting to gather my information. The tax thing is just criminal but just like dividend income or capital gains taxes fn' taxes. Thanks for the insight I appreciate it!

[HuddlesNCuddles]

Adding to having more than one HYSA, my understanding is FDIC only insures the first $250k (not that that's a problem for most of us 😂), so you wouldn't want to keep more than that in any one HYSA

[tensas]

Awesome. Helpful and straight to the point without the narcissistic rambling you often find on YT lol. Thumbs up.

[tegxtegx]

Hi Matt!!
I found out the hard way about taxes on HYSA's!! Thank you so much for shedding light on these types of accts. Really appreciate your well informed financial videos!!

[kanecierra]

Thanks for the info! I won’t be filling anything other than my W2’s and Home Tax forms.

[hgo]

Ok, I know I'm basicaaly repeating many of these comments BUT thank you! Thank you for making it short, clear and to the point. I would rather watch several well done videos on a topic than watch one for an hour and a half. Some are too short. Many are way, way to long. I'm usually sitting and taking notes and we also have to account for doing our own research too.

[MarlonVell]

Thanks for sharing this! I was definitely unaware of this and haven't heard anyone else mention these things. Great info.