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☆ Apple’s balance sheet is golden and delicious
▼ + stars: | 2023-05-04 | by ( Robert Cyran | ) www.reuters.com time to read: +4 min

But for Apple (AAPL.O), the sharp change in monetary conditions is golden and delicious. The iPhone maker said on Thursday that it ended the first quarter with cash and saleable investments $57 billion greater than its debts. That’s nearly enough to cover its newly-raised dividend for a year, and $90 billion buyback program, without touching the balance sheet. While the first two initiatives sit on Goldman’s balance sheet, the buy-now-pay-later product sits on Apple’s. Apple had $57 billion more in cash and saleable securities on its balance sheet than its debts at the end of the quarter.

Pros Check mark icon A check mark. Competitive APY Check mark icon A check mark. Easy to save for various goals Check mark icon A check mark. Pros Check mark icon A check mark. Competitive APY Check mark icon A check mark.

☆ Apple beats revenue, profit estimate on iPhone sales growth
▼ + stars: | 2023-05-04 | by ( Stephen Nellis | ) www.reuters.com time to read: +4 min

Profit was flat at $1.52 per share, compared with estimates of a 5.7% fall to $1.43 per share, according to Refinitiv data. IPhone sales rose 1.5% to $51.33 billion, compared with analyst expectations of a 3.3% decline to $48.9 billion, according to Refinitiv. Mac sales fell more than 30% to $7.17 billion compared with analyst estimates of a 25% decline to $7.8 billion, according to Refinitiv. Apple's sales fared only slightly better than PC unit shipments in the market, which fell 33% in the calendar first quarter, according to Canalys data. Both were roughly the same as the 23 cents-per-share dividend and previous $90 billion share repurchase increase the company announced a year ago.

☆ Apple's quarter eases concerns about mobile device demand, with a China sales beat to boot
▼ + stars: | 2023-05-04 | by ( Jeff Marks | ) www.cnbc.com time to read: +7 min

Revenue in Apple's fiscal second quarter of $94.84 billion dropped 3% year-over-year but beat expectations of $92.96 billion. Bottom line Apple bounced back nicely from the supply-constrained December quarter to deliver record March quarter results across a few key categories and metrics. It's hard to tell if Apple's results were enough to send shares in the near term back to all-time highs of about $176 each, set back in August. In its March quarter, Apple returned $23 billion via the repurchase of 129 million shares valued at $19.1 billion and $3.7 billion in dividends. For the current June quarter, Apple expects year-over-year revenue performance to be similar to the March quarter result, assuming no worsening macro outlook.

When I traveled by myself in my 20s, I used to stay in hostels and cheap out on flights to save money. Now that I'm older, I've found better strategies to save on travel without cutting corners at every opportunity, like using a high-yield savings account for my travel fund and taking advantage of my credit card's travel insurance. AdvertisementOpen a high interest savings account to save for travelBack when I started traveling over 14 years ago, savings account aren't what they are now. I decided to open a high-yield savings account a few years ago to take advantage of its high interest rate. Use someone else's hotel reservationI've often used the usual discount booking websites like Booking.com and Hotels.com to save money when booking accommodation.

Persons: I've, —, haven't, Roomer Organizations: Service, Chase Locations: Southeast Asia, Malaysia

☆ The best checking accounts for getting cash abroad in 2023
▼ + stars: | 2023-05-03 | by ( Liz Hund | ) edition.cnn.com time to read: +9 min

Many of the most popular checking accounts charge foreign transaction and ATM fees, which can add up quickly. Best checking accounts for traveling abroad in 2023Charles Schwab High Yield Investor Checking Account: Best overall for travelers with no foreign transaction fees and reimbursed ATM surcharges. Schwab Bank Investor Checking Account: Best overall for travelersSchwab has one of the best checking accounts for international travelers. This makes the Schwab Bank Investor Checking Account our top checking account pick for most travelers. This is significantly higher than the industry average, and is one of the best checking account APY’s we’ve seen.

☆ Where to get the best returns on your savings when rates are high
▼ + stars: | 2023-05-03 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +6 min

The average bank savings rate as of April 26 was a paltry 0.24%, according to Bankrate. At some of the biggest banks, savings rates are as low as 0.01%. For the rest of your emergency fund and other savings, you can get a healthy return just by opening an online high-yield savings account at an FDIC insured online bank. As with most bank rates, high-yield rates are variable so can change at any point. Don’t chase yieldAs attractive as many savings rates are today, they are no substitute for the long-term returns you can earn in a diversified investment portfolio of stocks, bonds and other assets.

☆ The Fed could deliver the final rate hike of a historically aggressive cycle today. Here's what to know.
▼ + stars: | 2023-05-03 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

All eyes are on the Fed today as officials ready their decision on what could be the final rate hike of the cycle. We'll hear from central bank chief Jerome Powell today at 2 p.m. The last time the fed funds rate hit that level was during the housing boom in 2006, in the run up to the 2008 crisis. Broadly, markets are acting as if today's potential rate hike will be the final one of the Fed's lengthy, aggressive cycle that's brought so far nine consecutive raises, the last of which was a 25 basis-point move in February. "The market is telling you, in terms of forward yield curves, that they expect the Fed to make a mistake."

A high-yield savings account is a good place to store money for short-term needs. Many banks offer high-yield savings accounts with variable high interest rates. A high-yield savings account may be the best place to save money for travel or a wedding. The best high-yield savings accounts offer variable annual percentage rates (APYs), some at 3.75% APY or more. Fun moneyIf you really want to reward yourself, consider putting your "just for fun" money in a high-yield savings account.

☆ Apple reportedly attracted $1 billion in deposits into its new high-yield savings account in just 4 days
▼ + stars: | 2023-05-02 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Apple gained nearly $1 billion in deposits into its new high-yield savings account in just four days, according to a Forbes report. On the first day of launch, Apple gained nearly $400 million in deposits. Apple launched a high-yield savings account last month as more and more consumers seek to take advantage of the high interest rate environment. While Apple's starting yield of 4.15% isn't the highest for a high-yield savings account, there is something Apple offers that few others do: convenience. At least, convenience for iPhone users who already have an Apple Card, as the savings account integrates into the iPhone's Wallet app.

If you're spending your extra cash right now, it's a good idea to spend it on personal improvement. But deciding what to do with extra cash shouldn't just be about immediate fun if you can help it. And second, if you put the money in a high-yield savings account, it can earn interest. Let the money earn interestIt might take you some time to decide what to do with extra cash. Certified financial planner Jim Eutsler shared that you can park the cash in a high interest rate environment, such as a high-yield savings account or a CD.

Americans' tax refunds could be worth $12.7 billion more if they were deposited into a 1-year CD earning 5.15% APY. Instead of using tax refunds on vacations, new cars or household appliances, Americans that receive tax refunds can turn them into extra cash. The total amount refunded to all Americans dropped by nearly $30 billion, from $267 billion to nearly $237 billion. CDs could grow America's tax refunds by $10.4 billion in a yearCDs Highest yield savings account Popular savings account 6 months $6 billion $5.7 billion $4.5 billion 1 year $12.7 billion $11.6 billion $9 billion 18 months $19 billion $17.7 billion $13.7 billion 2 years $25.6 billion $23.8 billion $18.4 billion 3 years $37 billion $36.6 billion $28.1 billion 4 years $47.1 billion $50.1 billion $38.2 billion 5 years $59.6 billion $64.2 billion $48.7 billionHow we got these numbersTo determine the potential growth of America's tax refunds, we assumed an initial deposit of $2,878, which is the size of the average tax refund as of April 7. We looked at typical rates at the best overall APYs available as well as the best rates at popular, well-known banks.

☆ Apple’s New Savings Account Is Convenient. Is That a Good Thing?
▼ + stars: | 2023-04-26 | by ( Imani Moise | ) www.wsj.com time to read: 1 min

Apple Inc. turned millions of iPhones into piggy banks with the launch of its new high-yield savings accounts. The savings account is unusual in another way, too: It is attached to Apple Card, a credit card. Savings accounts and credit cards are usually kept separate. In traditional wallets, debit and credit cards keep spending accounts at your fingertips, but it is rare to have similar access to savings on the go. The allure of putting them together is the ability to seamlessly transfer money between them and more easily use savings money to pay off debt.

☆ Morning Bid: Cloud control - tech trumps banks
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +5 min

Alphabet (GOOGL.O) also gained 1% as it too trumpeted gains in cloud services and AI, alongside plans for a $70 billion buyback. With Meta (META.O) results out later, its stock was up 2% and Amazon (AMZN.O) raced ahead 4%. PacWest Bancorp's (PACW.O) shares jumped 15% in extended trading after the regional lender said deposits have been building recently. And in Europe, Standard Chartered (STAN.L) shares bucked otherwise dour markets on a forecast-beating 21% jump in first-quarter profits. U.S. Treasury markets continued to rally, with yields on 2-year notes dropping below 4% Tuesday and testing 3.9% early today.

Netflix star Ramit Sethi says most people work towards generational wealth without knowing what it means. Here are three steps Sethi recommends taking if you want to pass down generational wealth to your children. Set concrete goals"You'll notice that, in our culture, we conflate generational wealth with passing down a house. Sethi encourages people who want to build generational wealth to make concrete goals around what that wealth will look like. Start investingSethi's advice to anyone looking to build generational wealth is to start investing, even in small amounts.

☆ These 2 savings accounts have interest rates of about 5%: Here's which one you should choose
▼ + stars: | 2023-04-24 | by ( Mike Winters | ) www.cnbc.com time to read: +2 min

Compared to the average interest rate of 0.6% you get for checking accounts , moving money from your debit account into either one of these savings accounts can be a smart move. HYSAs have higher interest rates compared to regular savings accounts, and the best rates are typically offered by credit unions or smaller online banks. Several online banks currently offer interest rates of about 4.5%, which works out to $450 in annual interest for a balance of $10,000. That's about $400 more than what you could get before interest rates started rising last year. Typically, long-term CDs have slightly higher interest rates than short-term CDs.

☆ The 5 absolute worst ways to earn passive income, according to a 6-figure entrepreneur who's tried dozens of them
▼ + stars: | 2023-04-23 | by ( Jen Glantz | ) www.businessinsider.com time to read: +8 min

Flipping products, making money through ads, and credit-card bonuses were a waste of her time. At first, I was making passive income as the stocks increased in value, and I sold off a few shares to make a profit. Trying to make passive income in the stock market is risky, especially when you're someone who doesn't fully understand it. In the end, this passive income stream proved to be stressful, time-consuming, and risky. After earning those bonus points, I redeemed them for cash or statement credits, and called that passive income.

☆ Rates on C.D.s Are Soaring, but the High Rates May Not Last
▼ + stars: | 2023-04-21 | by ( Ann Carrns | ) www.nytimes.com time to read: +2 min

You want to be able to withdraw the cash quickly if you need it, without worrying about paying a penalty. You may be better off getting a slightly lower rate in a high-yield savings account, with fewer restrictions on withdrawals. If you have a large expense coming at a known date in the future, however — say, a college tuition payment — a longer-term C.D. The paltry interest rates of recent years punished retirees, she said, so higher C.D. rates of 3 to 5 percent offer welcome relief: “We’re in this golden moment.”But given concerns about the economy and uncertainty about whether the Federal Reserve will continue raising rates, it’s unclear how long banks will continue to pay the high rates.

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☆ Savings account interest rates just hit a 15-year high, but fewer Americans are benefitting
▼ + stars: | 2023-04-20 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

Most people said the main reasons for not switching to a high-yield savings account were because they preferred their local branch or were comfortable at their current bank. 49% have less in savings, or none, compared to 2022 Americans, overall, are saving less. Nearly half, or 49%, of adults have less savings or no savings compared to a year ago, according to a separate Bankrate survey from February. More than one-third also now have more credit card debt than emergency savings, which is the highest on record. In 2022, 4.5% of households had no checking or savings account, according to the FDIC's latest survey.

☆ The I-Bond boom is about to end as rates on the inflation-protected assets set to plunge below cash yields
▼ + stars: | 2023-04-20 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The 2022 boom in I-Bonds appears set to end as interest rates tied to the security plunge. I-Bonds are expected to pay an interest rate of just 3.8% next month as inflation cools down. I-Bonds will be less appealing to investors due to its long lock-up period and higher interest rates at money market funds. Interest rates for I-Bonds are estimated to fall to 3.8% in May as inflation continues to ease. The Treasury bond resets its interest rate every six months based in part on the latest inflation data.

A money market account is an interest-earning bank account. Money market accounts usually have the following features:A variable interest rate: The interest rate of a money market account may fluctuate depending on what the Federal Reserve does. Quick tip: Money market accounts are not to be confused with money market funds, which are a type of low-risk investment. Money market account vs. savings accountMoney market accounts are a type of savings account. There's nothing stopping you from opening both a money market account and a high-yield savings account if you want to.

☆ Parking your cash in these investments is paying off: 3 ways to find the best place to hide
▼ + stars: | 2023-04-19 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

Apple, working with Goldman Sachs, entered the fray this week and launched a savings account with a 4.15% annual percentage yield. Even money market funds, where investors can park cash that's in their brokerage accounts, are paying attractive rates. With an array of places to earn yield, investors need to weigh a few factors before deciding where they ought to keep their cash. Note that the rate paid to you on a high-yield savings account can change once you've opened it. Meanwhile, savings accounts may not hit you with penalties – but you could still face limitations on the number of withdrawals and transfers from these accounts.

☆ What should you do with your 401(k) when you switch jobs? Experts weigh in
▼ + stars: | 2023-04-18 | by ( Holly Johnson | ) edition.cnn.com time to read: +11 min

Millions of people switch jobs every single year, and millions of 401(k) plans and other retirement accounts fall by the wayside as a result. We asked experts what most retirement savers should do if they have multiple old retirement accounts scattered around — here’s what they had to say. Keep track of your old 401(k) accountsTry and keep good records of your 401(k) accounts, including account numbers. Roll over your 401(k) accounts earlyRollover your old 401(k) accounts early to avoid confusion and potentially maximize returns. How to roll over an old 401(k) planYou can often roll over your 401(k) to an IRA online.

☆ Goldman Sachs is watching for 'cannibalization' from Apple's new savings account
▼ + stars: | 2023-04-18 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

David Solomon, chief executive officer of Goldman Sachs Group Inc., during an event on day three of the World Economic Forum in Davos, Switzerland, on Jan. 19, 2023. Goldman Sachs CEO David Solomon said Tuesday he isn't worried about Apple's new savings account overshadowing Goldman's own Marcus offerings but that he's watching closely for "cannibalization." The new accounts carry Apple's brand and are administered through the iPhone, but Goldman Sachs is the company's financial partner. Apple builds features for the iPhone and its Wallet app, like its Apple Card credit card, while Goldman is the actual bank behind the company's financial services. Solomon said Goldman would welcome the deposits from Apple's savings account and would deploy them within its own client base.

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