mkhrrs89 OP t1_jd488vx wrote on March 21, 2023 at 6:46 PM Reply to comment by RodeoBob in ELI5: How do high yield savings accounts work? What is APR & APY, and how does compounding quarterly vs monthly vs yearly affect the amount earned? If you open one, how often are there payouts? by mkhrrs89 interesting. Idk if what I have is considered "large" right now, but what would those better investment options be? The only other things I have looked into are ETFs as pretty stable options and REITs that can pay out bigger dividends Permalink Parent 1
mkhrrs89 OP t1_jd40dj8 wrote on March 21, 2023 at 5:56 PM Reply to comment by [deleted] in ELI5: How do high yield savings accounts work? What is APR & APY, and how does compounding quarterly vs monthly vs yearly affect the amount earned? If you open one, how often are there payouts? by mkhrrs89 So why do regular savings accounts exist? Seems like it would just be smarter for everyone to always use high yield saving accounts? Permalink Parent 1
mkhrrs89 OP t1_jd406d6 wrote on March 21, 2023 at 5:55 PM Reply to comment by RodeoBob in ELI5: How do high yield savings accounts work? What is APR & APY, and how does compounding quarterly vs monthly vs yearly affect the amount earned? If you open one, how often are there payouts? by mkhrrs89 Interesting, thank you for this write up. Is 12% APR pretty common or was that just used as an example? Permalink Parent 2
ELI5: How do high yield savings accounts work? What is APR & APY, and how does compounding quarterly vs monthly vs yearly affect the amount earned? If you open one, how often are there payouts? Submitted by mkhrrs89 t3_11xo4gb on March 21, 2023 at 5:36 PM in explainlikeimfive 13 comments 3
mkhrrs89 OP t1_jd488vx wrote
Reply to comment by RodeoBob in ELI5: How do high yield savings accounts work? What is APR & APY, and how does compounding quarterly vs monthly vs yearly affect the amount earned? If you open one, how often are there payouts? by mkhrrs89
interesting. Idk if what I have is considered "large" right now, but what would those better investment options be?
The only other things I have looked into are ETFs as pretty stable options and REITs that can pay out bigger dividends