High-Yield Savings Accounts

4) High-Yield Savings Accounts

Examples to Start With:

• Marcus by Goldman Sachs, Ally Bank, Discover Bank.

Where to Open:

• Online banks; check NerdWallet or Bankrate for best rates.

Key Considerations:

• Interest rate vs. inflation (currently 4–5% is good).
• FDIC insured.

Starting Amount:

• Any amount; start with $50–$500 as your emergency fund.

Goals:

• Build a cash safety net.
• Don’t use for long-term growth — this is for savings, not investing.