Erika Kullberg - Personal Finance Tips I use Discover savings. Lately rates have dipped below 2% though. Fed has been cutting rates.

Erika Kullberg - Personal Finance Tips yes I have been very happy with them. The falling rates will affect everyone unfortunately . But on the bright side, if the rates keep falling it could be much cheaper to purchase real estate😀

So excited to hear this!! I'm glad you opened a HYSA!

Curiosity Unchained thank you!!

@@Erika2 I will subscribe and watch them all. Thanks in avance for all the efforts you'll put into making them. Take care.

Well, I little travel but we’re up to 3 grandkids so that is where our focus currently is. I’m sure there will be some in the future. How is Marriage and Singapore(?) treating you!

how much in tax do we pay on the interest we earn? does it depend on the %apy? i can’t find videos on this

True, your not taxed to put money in your 401k but you are taxed when you decide to take out.

Then what is the solution?

Whaaaaaat??? I had no idea

The solution is to pay your taxes! Billionaires need to start doing it too!!!

Thank you! Yes, definitely still recommend and I'm still happy with Ally. The interest rates have gone down significantly since I posted this video - but I still think it's important. It's also a good way to separate your 'savings' from your checking account - you're going to be less tempted to spend it :)

​@@Erika2So you have to invest alot of money to make a decent amount monthly?

@@Erika2 you're welcome keep putting out great content!

@@Erika2 I subbed you- I'll let you know of any topics. Maybe your best rewards credit cards? I posted a video today of my personal favorites. Just an idea 😉 cheers.

Erika Kullberg - Personal Finance Tips yeah I am :)

Erika Kullberg - Personal Finance Tips Canada is amazing as long as you visit during the summer 😂 where are you from?

Erika Kullberg - Personal Finance Tips ah that’s insane! I’ve visited Cincinnati recently, and I’ve been to a few other places across the US, but not DC. Most of my travelling was actually around Europe and Asia!

@@Erika2 You should :) I've been to Bali a few times and it's GORGEOUS! Thailand is nice too.

@@Erika2 By the way, how did you make your banner so professional looking?

Strike First Finance likewise ;) just saw your channel and I love the blue background! Keep it up!

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I think it’s because a high yield savings account is risk free compared to stocks.

It’s fluid for emergencies. Ideally, you don’t want to pull money out of your index funds so they can compound.

None. Just think of it like your regular savings account. Banks like Wells Fargo, chase, etc. savings account are only 0.01. Which is like a penny per month

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If you are married you're insured up to 500k. But I'm sure Erika was going to tell you that.

@@alohastateofmind3565 Correct, however, that only applies to a jointly held personal accounts. Most people have a business account, held by an entity, which is only $250K. Some institutions claim that you are insured up to $1M. In reality, that institution is dispersing your funds on the back-end. I could be wrong, but last I knew, that was a bit of a grey area as far as the FDIC was concerned and that you may not actually be covered for that amount.

Kong hi! Thanks for that interesting info. I had never heard that before. I think I just typically go off of the Bureau of Labor Statistics numbers (which I believe at the very least factors in food, just from a quick glance).

@@Erika2 www.shadowstats.com/alternate_data/inflation-charts Use alternative charts. When government changes the measuring stick like from inches to cm you also need to convert the data back. It is in gov and employers favor to hide real inflation numbers so they pay less. Unfortunately most do not know hence we are 20+ trillion in debt. Basically to hide from masses so they wont demand wage and benefit increases. Makes sense doesnt it?

Kong oh this is so interesting-it’s basically putting it at around 6% right now. I’m fascinated. I’ll have to read more into this. Thanks for introducing the concept to me!

Erika Kullberg - Personal Finance Tips I agree..it sounds easier than hopping from bank to bank haha! do you have any CD ladder strategies you’d recommend? Or is a CD ladder one size fits all?

Erika Kullberg - Personal Finance Tips okay! Is there a percentage of money that you’d recommend putting into each “rung” of the ladder?

I’ll try to do a video explaining soon :)

Erika Kullberg - Personal Finance Tips That’s true! But it doesn’t really affect me because I don’t withdraw my money from it, I just leave it there as my emergency fund. It actually helps me not dip into my savings!

Erika Kullberg - Personal Finance Tips it takes about 1-2 days to withdraw any money

@@jononfirebudgetinginvestin3897 I have Wealthfront too, however, if funds are needed right away then it is not a good option for an emergency fund. I think I heard they will be offering something similar to checking where legally they have to call it something different but it functions like a checking.

@@Erika2 Well, you are doing an excellent job and I subscribed. =) Your production quality is quite good.

@@Erika2 I like it when I get critiqued... not overly critiqued ;P, but otherwise I wouldn't know what to change. I know a ton of work goes into your videos already. It shows. It hard for most people to really get that filming is the easiest and quickest part of the process. You've packed a ton of useful content as well. That is not an easy thing to do.

Do mind if I ask, where do you plan on taking your brand? Network? Investment platform? You obviously have a direction mind and an excellent start. Great choice of graphic design team... three videos in and you have a recognizable branded theme. I'm not in this business, but I find all business models fascinating. I'm actually and engineer working in defense and aerospace, turned serial entrepreneur, going the route of multifamily dueling (>35 unit each) ownership. I love hearing about other's plans.

@@Erika2 So few people think like an entrepreneur and very few of those that do can pull it off. I study a lot of industries and KZfaq was one of them. Watching your videos, I wasn't sure if you had a small team behind you or not, but it's definately something you should think about. It'd be a smart business move. You're videos will act as hook to draw people to your service. Start by outsourcing what consumes the most of your time. If that's in the production, find an associate who's willing to work for you. KZfaq has changed their monetization policies so much, that it makes it really hard for anyone to become KZfaq rich anymore, but your smart enough to use it as only part of an overall strategy. Very smart. I'm at a similar point that you are. When I got out of the service, I was broke. I work every job i could find to pay for school.. day labor, part time gigs, door to door sales, even driving and providing protection for call girls. Anyhow, I made it out of school with 3 BS degrees in engineering without loans. Been working as an engineer ever since, mostly in software. I'm at the point now where I can't possibly make any more as a salaried employee. I've managed to acrew about $2M and I'm ready to make leveraging that as my primary focus and leave the 9-5 life behind. In the past I've stated up several software-as-a-solution businesses with varying success. As I'm sure you've got experience with, software as a product has a limited shelf life and selling the model should be the focus. Your concept of providing legal services, facilitated by software has a much long life cycle. I won't be surprised if your the same, but I've always got several plans working in the background at different levels of intensity. I've created a company that acts as broker on federal contracts, I've got an importing wholesale/ retail business, my software suite to analyze viability of large multi family buildings was just completed and I'll be making my first purchase in spring when the buildings start hitting the market (slow burn, but if I follow my model I should have 1,000 units with 25 years) and managed mostly through software. I love sharing everything I've learn what I've done. If it helps someone else advance thier business, I couldn't be happier.

@@Erika2 When I served with 10th Special Forces, we would use Stuttgart as a jump off point for missions. I went back just a few years ago, my first time off base, I was shocked to see not all Germans were hulking beasts like the German KSK (special ops) are. Just figured they were all like that. Met my wife when I was stationed in Korea. My daughter wants to get into the AF Academy in a few years when she graduates. Astronomical engineering is what she is set on. She'll be 6th generation military if she gets in... first officer in the family. It looks like YT can be a great source of revenue, especially for financial coaches, such as yourself. Graham claims over $100k/mo. Though, YT can be finicky and unpredictable, so best not to rely 100% on it. With your videos looking as good as they do now, I can only imagine how amazing your 500th show will be. Stick with it, stay diligent, do as many cross-over interviews with other KZfaqrs as you can, never sign up with a promoter group (keep your channel yours) and I am sure you will have 1M subscribers in no time making a sweet chunk of change in the process. You can count on me for a thumbs up, and do not be shy about letting us know what can we can do to have the most positive effect on your channel.

Hi Donna, yes, definitely! Even $500 I would put in.

Erika Kullberg Wow. That’s definitely surprising!

Hi Scott! That's tough... to be honest, I'm not familiar enough with solar farms to really give advice. That does seem like a large upfront investment, but it depends on your risk tolerance and how much you have to invest.

@@Erika2 thanks ill do more reserch

@chinabo2113Is there an email address or phone# I can use to get a hold of you?

It's more the clickbaity nature of it - people look to passive income to bolster their income but someone in the position to have $10k in a HYSA is not going to care about getting an additional $17 per month. The clickbaity nature is present in a few other videos, which I want to stress - have good information - but use unnecessary clickbait to draw people in. For example the money saving tips thumbnail is "I save $9000 per month" and the title of the student loans video "How I Paid Off $225,526 in Student Loans in 2 Years" (the explanation for both of these is "I was making a lawyer's salary"). I'm not sure if your target audience is exclusively high earners but it definitely seems marketed towards that.