High-Yield Savings Accounts | Easiest Passive Income Stream for Beginners

In this video, I’m sharing with you my favorite passive income stream. I think it’s a passive income stream that everyone should have, no matter how much is in your bank account. It’s a High-Yield Savings Account. Interest earned from a high-yield savings account will be the easiest passive income stream you’ll ever have, because it only takes 5 minutes to set up your high-yield savings account.

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Disclaimer: I am not a financial advisor. Although I am a lawyer by profession, I am not your lawyer and no attorney-client relationship is established with you in any way. This video, and the ideas presented in it, are for entertainment purposes only and should not be construed as financial or legal advice.

[ellenellick]

Love how detailed you go into explaining all of the benefits to using a high yield savings account. You should definitely do a separate video on CDs

[nancieotto]

I can’t believe I have not been doing this... thanks so much for sharing how to get started!! This is so helpful

[yokonakamura]

Great video! I am so motivated to open a High-Yield Saving account. Thank you very much for making it so simple. I love your style!

[ZylerKade]

First saw you on the Think Marketing interview. Love your content, and absolutely love the idea for Plug and Law and will definitely be checking it out for my own online businesses. Thanks for all the info!!

[suttsd]

Great video and impressive editing skills. I had to subscribe when I noticed that you have a new channel and already doing so well.

[theellenpham]

I really appreciate your content. It is so valuable. Thank you for sharing your personal finance tips!

[eileenshannon]

Great video, Erika! Very helpful information presented in a clear way.

[MichaelBordenaro]

Nice video Erika! High yield savings is definitely a very easy and introductory way for people to learn about passive income. Great job!

[HowDebbieSaves]

Great video! I really enjoy your editing style too.

[Jenz]

Great content as always Erika ! Can you do one on annuity ? Or annuity vs CDs ? Thanks !!

[TheRealBeardedBusinessman]

New viewer and subscriber to your channel. Excellent video on the high yield savings account. I like them too and they are part of my passive income portfolio. I don't currently make much in interest yet, but I'm continually dropping cash into it to get my balances and interest up.


Finally understanding the value in passive income and investing is what got me to create my YouTube channel documenting my financial journey. Stop by the channel sometime. Enjoy and good luck to you on your financial journey!!

[sicilycitrusy]

Thank you for explaining it all to be able to understand easily! ☺️🙏🏻❣️

[cvxvnbm]

Thank you Erika for sharing this information. I learned a lot from you.

[edb]

Great content. I just subbed. Can’t wait to see your channel take off!

[PassiveIncomeTom]

A high yield savings account is a great place to park money and mich better than a bank. Nice work Erika!👍

[jermaineboyd]

Awesome video Erika..I use a tradition savings account but with all these interests rate cuts u gave me idea to move some of my funds to hyper savings account which I try in the near future thinks.

[FinancialOptimization]

Hello, I too am attempting to help people with personal finance so I really enjoy what you're doing! Also, this editing is too good wow. I just want to share something different I do; I also use a high interest account(I use SoFi which is basically a checking account), but the rest of my money I put into my stock market brokerage account so I can get much bigger returns than the approximate 2% that a bank account could give or even a CD like you mentioned. Personally, I can have my checking account money with a high yield be my emergency fund because I know I can transfer any cash I have in my brokerage in a day if necessary and then sell shares if it's a real bad emergency. That's just my two cents on the topic, but it's actually funny I found this because I literally just posted an IG story on this haha.

[JustFrugalMe]

Thanks for sharing this awesome content!

[suzannehogue]

I had no idea! So I just now opened a HYSA! Thank you so much for all your advice! I love your videos.

[CuriosityUnchained]

I can’t believe I hadn’t seen this video. Excellent video Erika 👏