6 Things to Do With Your Savings in 2024 (in 10 Minutes!)

Here are 6 things to do with your Savings considering the current market environment that we're in! Let me know if you do any of these in the comments.

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Timestamps:
0:00 - Start Here
1:13 - #1 Pay Off Debt
3:32 - #2 Retirement Accounts
5:24 - #3 Series I Savings Bonds
6:40 - #4 Invest
8:55 - #5 Emergency Fund
9:52 - #6 High Yield Savings Accounts

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PS: I am not a Financial Advisor, any investment commentary are my opinions only. Some of the links in this description are affiliate links that I do receive a commission for & they help support the channel

[wcastill]

Thanks for another informative & easy to understand personal finance video, Humphrey. Keep up the great job!

[reachtrita]

So nice, to the point and easy to understand! Thank you for making great informative videos. planning.

[omgcheeter]

I’ve definitely been doing 5 since I started working that’s always been my mindset. 6 is being done by default of my savings but is not really doing anything and useless even if it were 2%. I’ve made way more on return but flipping things. 1 I’ve been doing lately and only about $200 away from 100% debt free. I don’t believe in 4 in terms of stock market. I like instant gratification that’s more for super wealthy. Again I can make a whole lot more on return by flipping items quickly than risking it in the stock market. 2 is something I should have been doing but I like having access to my money whenever I want without no penalty. 3 kinda goes with 2 but definitely looks a bit more appealing since it’s not as long term than having to wait till 60 years of age.

[danives]

Wonderful video. Keep being a trusted source.

[MrDaffy-bzgf]

Thank you Humphrey! I get so excited when your vids pop up on my feed!

[davidlewis]

Hello and good afternoon! Can you explain 457 deferred compensation and if it's a worthy option for saving for retirement please?

[christianaroland]

Watching this at 17 years old and I've been saving up to buy my share of stocks at 18! :)

[oOBlahBlahOo]

Thanks to your help I bought Series I Savings Bonds.

[Brothrz]

Any videos on deferred payments? Or pensions?

[adriancheung]

Thank you for this tip, really helpful as young investor

[SpencerJohnsonOfficial]

These are all awesome ways to spend your large stockpile of extra savings. Unfortunately, I'm just missing one thing... the large stockpile of extra savings lol. All jokes aside, I just recently graduated college and after traveling the last month or so, I am officially starting my full-time job next week and I'm excited to start implementing more of these strategies in my overall financial strategy. Great work Humphrey!

[oyi]

On a different note. How are Americans on board with your student loan system? From what I’ve heard from online videos (most reliable source of information) it sounds to me like a mortgage/loan shark type shhht. Can someone explain in more details?

[flagrl]

With the high yield savings, how do you know which is a good company since there are so many? All have some negative reviews if you do a deep dive so it makes it confusing.

[luzm]

Hello! I am here because I saw you in an interview with Shan Rizwan! I loved that Interview! Now, I am following you! :D

[michaelmitterholzer]

I get so excited whenever I see you upload a video. Thanks for all the Information you provide.

[plugger]

Humphrey, thanks so much for all the great content always. I thought recently you had discussed that given the downswing in the market and so much volatility, that regular investing in stocks isn’t such a great idea. I’ve got a decent amount of cash in the bank and I’m trying to figure out what’s best to do with it, do you really still recommend throwing a bunch of money into stocks? I am definitely not risk-averse. Thanks so much!

[stacybirmingham]

Thanks for the video. My husband and I have been watching you. I am not sure if you took the link away but do you have the info for the I bond? Maybe the link? Thank you.

[karkorof]

Hello Humphrey, thanks for another video! I wanted to ask, what is your take on Yotta Saving Account? You mentioned it almost a year ago and took your advice, have made amazing returns since then! Was wondering why it doesn’t get as much love anymore lol

[missionimpossibleguy]

So about paying off debt, if both cards have 25% interest then avalanche method says that you should pay those off first but should you pay off the one where you owe more or less first?

[citizenpunx]

I did Dave Ramsey’s debt snowball method and it worked very well