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Image source: Getty Images. Deciding what to do with some extra cash can be difficult. Putting your money into a high-yield savings account can be a great option, especially with some accounts ...
Let’s say that you set aside $10,000 in a high-yield savings account that earns 4.50% APY. You’ll earn about $450 in guaranteed interest over the first year while keeping your money protected.
3. Catch up on your retirement savings. Investing in your retirement is your key to long-term financial stability. The money you save up toward retirement typically receives tax advantages that no ...
Money expert Rachel Cruze says you should invest as early as possible, even if you can only contribute a small amount - like $100. Read Next: 10 Things You Should Do When Your Child's 529 Account ...
As a side note, many financial analysts suggest that you shouldn’t put money that you’ll need in the next five years into the stock market, as the risk of an irrecoverable loss is too high.
Learn more in our growing personal finance library to save money, earn money and build your wealth: High-yield savings account vs. money market account High-yield savings account vs. traditional ...
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SoFi was founded in 2011 as a student loan refinancing company. In 2019, SoFi — , short for Social Finance — expanded into investment services, offering a user-friendly platform to new investors.
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