Savvy Future Investor

Why a high-yield savings account is essential 👇🏼

1. Higher interest rates
By choosing high-yield savings accounts over regular ones, you could be earning interest rates that are ten times higher. Imagine the possibilities of what you could do with that extra money! Currently, these accounts offer rates ranging from 3-4% to just 25%. It's always worth seeking out opportunities to maximize your savings.

2. Money security
With backing from the federal government, the Federal Deposit Insurance Corporation (FDIC) insures high-yield savings accounts for up to $250,000.

3. Ease of access
High-yield savings accounts offer the flexibility to withdraw funds at any time. Therefore, they are ideal for storing emergency cash or a down payment fund for a property purchase.

Early direct deposit? Check. Automatic savings? You got it. Building your credit? Absolutely. Oh, and did someone say no-fee overdraft? Sounds like a dream, right? Well, what if I told you that you could snag all these goodies in one sweet spot? Dive in for more deets if this piques your interest!

Chime: Why It's The Most Amazing Way to Do Your Banking If you are looking for a cool way to save without all the fees, check out Chime. This online banking platform has lots of neat features that you just don't find with many traditional banks. At no extra cost to you, some or all of the products featured below are from partners who may compensate us fo...

Let's dive into the thrilling world of compound interest! Watch how it magically multiplies your money stash over time—it's like watching your wealth turn into a mountain of cheese! How dairy amusing!

Unleashing the Life-Changing Magic of Compound Interest Compound interest is when the interest you earn on a balance in a savings or investing account is reinvested, earning you more interest. As a wise man once said, “Money makes money. And the money that money makes, makes money.” Compound interest accelerates the growth of your savings and investm...

Hey, millennial!

We've gone from sipping lattes to juggling parenthood, jobs, car bills, and, possibly, a mortgage too! Throw in a dash of pandemic All these adventures have shaped how we think about money, and now we're passing down our cash savvy to the young ones.

What Will You Teach Your Kids About Money?

🎉 Let's start the Women's History Month party by honoring all the incredible women in your life with a bang! 🎉

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BlackRock's Bitcoin ETF Smashes $1 Billion Record

BlackRock Inc's Bitcoin exchange-traded fund (ETF), IBIT, recently reached a key milestone by receiving USD 1 billion in investor inflows. This milestone makes IBIT the first of nine newly formed ETFs that directly hold Bitcoin to reach this level since their creation last week.

The rise in IBIT inflows was most noticeable on Wednesday, when investors added USD 371 million to the fund. BlackRock, together with Fidelity Investments, has led the early consolidation of this new asset class. Together, these two firms have drawn 68% of all inflows into the nine new Bitcoin ETFs, totaling approximately USD 2 billion.

Fidelity's FBTC Bitcoin ETF is also performing well, having attracted USD 358 million in inflows in a single day, the most since the fund's inception a week ago. Overall, Fidelity's fund has raised around USD 880 million.

A significant percentage of recent inflows into both BlackRock's and Fidelity's ETFs appear to be from investors exiting Grayscale Investments' GBTC fund. This transition comes after the United States Securities and Exchange Commission (SEC) approved these ETFs, which is a big step for the largest cryptocurrency and the larger crypto industry.

The SEC's decision to approve 11 applications for U.S.-listed ETFs tracking Bitcoin from companies such as BlackRock, Ark Investments/21Shares, Fidelity, Invesco, and VanEck has increased access to cryptocurrencies for many new investors. These ETFs provide a more basic approach to invest in Bitcoin than purchasing the cryptocurrency directly.

The reduced management costs charged by BlackRock and Fidelity ETFs, as opposed to GBTC's 1.5% fee, are a major reason for their appeal. However, despite having the lowest management fee in the new Bitcoin ETF group (0.19%), Franklin Templeton has garnered fewer than 2% of total inflows among Bitcoin ETFs.