The wealth-building secret I’m about to share with you is so unbelievably simple I guarantee you will laugh out loud.

It’s one of the most fundamental — and essential — things you can do to boost your savings. But most people don’t do it.

I didn’t — until about a month ago.

Are you ready? Here it is… the big secret to making money every day.

Open a high-yield savings account online.


Now, before you write me off completely, let me explain…

If you’re like me and you’ve had virtually no (or, worse, bad) financial guidance, then this isn’t as obvious as it sounds. But the facts could be life-changing.

I’m not going to take the time right now to extol all the benefits of opening a high-yield savings account… It is a holiday, after all.

The bottom line is this: It’s free money.

See, the national average interest rate on savings accounts currently stands at 0.09% APY. So if you put $1,000 into a garden-variety savings account — like the one your local bank offers — and let it sit there for one year, after 365 days you will have… $1,000.90.

If you put $10,000 in that same account, you will end up with $10,009.00 — a “profit” of $9. Socking away $25,000 would only yield you $22.50 in interest.

You couldn’t take a date to the movies for that nowadays.

Granted, all you did was put a bunch of money somewhere and leave it alone. But what if you could make hundreds doing just that?

Right now you can put your money in an online high-yield savings account with an interest rate anywhere from 2–2.5%. (You can find outliers that offer a higher rate, but be sure to read the fine print. There may be restrictions on minimums, transfers and/or withdrawals.)

But the two accounts I’m going to recommend offer decent rates and flexible terms. Most importantly, there are no minimum balances, so they’re perfect for folks just starting to build their nest egg.

  • The first is Marcus by Goldman Sachs. They offer a 2.25% interest rate, no account minimum and no fees
  • The second is Ally Bank, which also offers high-yield savings accounts with no minimums and no fees at a 2.20% interest rate.

A month ago, I opened an account with Ally. If I keep $1,000 in my account for one year, I’ll have an extra $22 at the end of it. If I put $10,000 in, I’ll walk away with a gain of $220. If I save $25,000 — that’s an extra $550 in my pocket at the end of the year.

Without lifting a finger.

And the interest on my account with Ally is compounded every day. Weekends… holidays… snow days… sick days…

So if I make regular deposits — say, $20 a week or $100 a month — the earned interest added to my total each day will help me grow my savings even faster.

Look, I’m not going to mince words. This is kid stuff. It’s so easy to do, it’s silly not to. Because you don’t have to do anything after the initial account setup.

Put your money in a savings account — just like you would anyway. Except this account pays a higher return. And you can withdraw funds at any time. It’s not like a CD, where your money is held hostage anywhere from six months to five years.

You can open an account… transfer money… and manage your funds… all online. It’s so simple. I’m already seeing real money added to my savings. Why didn’t anyone tell me about this before?

If no one’s told you, I’m telling you now. Open a high-yield savings account online. Make your money work for you.

Every day.


Steffi Baker

Lucille St. John
Managing editor, Unconventional Wealth

Lucille St. John

Lucille St. John is the managing editor of Unconventional Wealth. A gentlewoman and a scholar, Lucille never received much in the way of a financial education. But what she lacks in fiscal knowledge she makes up for in taste.

She’s going to take you with her on her unconventional wealth journey — starting from...

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