Building wealth starts with two keep fundamentals: savings and investing. Having both diversifies your wealth building plan and quickly starts you off on growing your money.
Below, you can compare the best accounts on the market for savings accounts and investing.
#1: A High-Yield Savings Account
Why get a HYSA now?
As of our most recent data, the national average savings account rate, according to the Federal Deposit Insurance Corporation (FDIC), stands at 0.46%. However, superior rates are offered with high-yield savings accounts from some of the nation’s premier financial institutions. We have scrutinized accounts from over 40 banks and credit unions nationwide. These accounts have been determined as the top choices based on their interest rates, fees, and other relevant factors.
#2: An Online Brokerage Account
Really two main reasons:
1) It’s very easy and requires minimal starting investment
2) The fastest way to build wealth is to invest in the stock market
Why is now the right time to get a brokerage account?
The market will grow your money over time. Over the last 10 years, the market has grown, on average 12.39% per year. That means $10,000 invested in the stock market is going to grow, on average, $1,200 per year in value.
Disclaimer: The market is volatile. No investment is a guarantee of returns. Rates and terms are subject to change. Please verify the latest details with the respective banks before making a decision.
