Money Management

[[{“value”:”For 12 years, I thought I was being responsible by putting spare cash in a savings account at my local credit union. I never touched the money except to pay for an emergency, like a car repair. That’s what you’re supposed to do, right?Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. Yet I was costing myself thousands without realizing it.When I learned about high-yield savings accounts, I decided to check out my own account’s APY to see how it compared. I was earning just 0.01% (that’s not a typo). My money earned almost nothing in interest for more than a decade.Turns out, I could have earned over $2,000 in that time.How much more could you be earning?Today, some of the best high-yield savings accounts (HYSAs) offer 3.60% APY or more — that’s at least 9x the national average. They’re also federally insured and just as safe as a traditional savings account.Let’s say you have $10,000 in savings. Here’s how much interest you’d earn over the next 12 years depending on your APY:APYInterest EarnedBalance0.41% (national average)$503$10,5034.00%$6,010$16,010Data source: Author’s calculations.Wouldn’t you like to be thousands of dollars richer for basically no work at all?Keep in mind that rates weren’t always this high, and they may drop before long. Until a few years ago, APYs above 1.00% were hard to come by. (I feel slightly better knowing I didn’t miss out on a 4.00% APY for 12 whole years.)That’s all the more reason to open an HYSA and take advantage of today’s high rates now.Switching bank accounts is easier than you thinkI used to think switching banks would be a hassle. I pictured paperwork and never-ending hold music.In reality, I opened a new account and transferred my savings in under 10 minutes. I even opened a checking account at the same bank while I was at it.Opening a high-yield savings account today takes just a few minutes on your phone or computer. Making transfers is quick and easy, too (though it may take a few days for your money to reach your new account).And don’t worry — your money is still safe. Most HYSAs (including all the accounts we recommend) are offered by FDIC-insured banks, meaning your deposits are protected up to $250,000.Don’t wait to start earning more interestYou can lose money without making a risky investment. I lost money by leaving it in a savings account that paid almost no interest, while the price of everything went up and up.Don’t make my mistake. Take a few minutes to open an HYSA today.If you want recommendations, we’ve rounded up the best HYSAs available today. They have no monthly fees and some of the highest rates you’ll find anywhere. Click here to see our list of the best high-yield savings accounts and open a new account today.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.”}]] [[{“value”:”

For 12 years, I thought I was being responsible by putting spare cash in a savings account at my local credit union. I never touched the money except to pay for an emergency, like a car repair. That’s what you’re supposed to do, right?

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

Yet I was costing myself thousands without realizing it.

When I learned about high-yield savings accounts, I decided to check out my own account’s APY to see how it compared. I was earning just 0.01% (that’s not a typo). My money earned almost nothing in interest for more than a decade.

Turns out, I could have earned over $2,000 in that time.

How much more could you be earning?

Today, some of the best high-yield savings accounts (HYSAs) offer 3.60% APY or more — that’s at least 9x the national average. They’re also federally insured and just as safe as a traditional savings account.

Let’s say you have $10,000 in savings. Here’s how much interest you’d earn over the next 12 years depending on your APY:

Wouldn’t you like to be thousands of dollars richer for basically no work at all?

Keep in mind that rates weren’t always this high, and they may drop before long. Until a few years ago, APYs above 1.00% were hard to come by. (I feel slightly better knowing I didn’t miss out on a 4.00% APY for 12 whole years.)

That’s all the more reason to open an HYSA and take advantage of today’s high rates now.

Switching bank accounts is easier than you think

I used to think switching banks would be a hassle. I pictured paperwork and never-ending hold music.

In reality, I opened a new account and transferred my savings in under 10 minutes. I even opened a checking account at the same bank while I was at it.

Opening a high-yield savings account today takes just a few minutes on your phone or computer. Making transfers is quick and easy, too (though it may take a few days for your money to reach your new account).

And don’t worry — your money is still safe. Most HYSAs (including all the accounts we recommend) are offered by FDIC-insured banks, meaning your deposits are protected up to $250,000.

Don’t wait to start earning more interest

You can lose money without making a risky investment. I lost money by leaving it in a savings account that paid almost no interest, while the price of everything went up and up.

Don’t make my mistake. Take a few minutes to open an HYSA today.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

“}]] Read More 

[[{“value”:”Image source: Getty Images
You don’t need a massive salary or flashy investments to build real wealth. Plenty of everyday Americans quietly reach millionaire status by the time they retire.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. Their secret isn’t a lottery ticket or an inheritance. It’s patience, discipline, and a few smart financial moves repeated consistently over time — boring, I know.If you’re earning a middle-class income and wondering whether becoming a millionaire is actually doable, the answer is yes. Here’s how more people are quietly joining the seven-figure club without ever needing to feel rich.1. They prioritize investing early (even if it’s small)You don’t need to max out every account right away. What matters more in building wealth is starting. A $200 monthly investment starting in your 20s can snowball into over $700,000 by retirement — without ever increasing your contribution. Wait until your 40s, and you’ll need to triple that monthly amount just to catch up. Time is the real secret weapon.Want help knowing how much to invest and where? This no-cost quiz from our partner, SmartAsset, makes it easier to find a fiduciary financial advisor.2. They live well below their meansMiddle-class millionaires rarely “look” rich. They drive older cars, avoid a flashy lifestyle, and don’t waste energy keeping up with their neighbors. The less you spend, the more you can save and invest — and that’s where real wealth is created. Frugality is freedom, not a punishment.A good rule of thumb is to aim to save at least 20% of your take-home pay — more if you’re starting late.3. They automate everythingThe most effective middle-class millionaires treat investing like a bill. Money moves from their checking account to their brokerage or IRA every month automatically. No need for willpower. No missed opportunities. Automation is the bridge between intention and action.Want to get started with an account that makes it easy to automate your savings? Many high-yield savings accounts today offer APYs over 4.00%. See our top picks here.4. They maximize free moneyEmployer 401(k) match? Take it. Credit card rewards? Use them wisely. Roth IRA growth? Tax-free. The middle-class millionaire knows how to play the long game — and they never leave free money on the table.Even small wins, like using the right credit card for groceries or booking travel through rewards portals, can compound into serious value.5. They own assets, not just stuffTrue wealth is built with appreciating assets: stocks, real estate, small business equity. Middle-class millionaires prioritize buying things that grow in value, not just things that cost money to maintain. That’s why the average millionaire has multiple income streams — not just a job.Want to see how close you are to hitting your millionaire target? With our partner, SmartAsset, you can get matched with up to three fiduciary advisors so you can get professional advice.Stop waitingBecoming a millionaire doesn’t require a corner office or an inheritance. It just takes consistent, intentional money moves made over time.And the best time to start is today.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.”}]] [[{“value”:”

You don’t need a massive salary or flashy investments to build real wealth. Plenty of everyday Americans quietly reach millionaire status by the time they retire.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

Their secret isn’t a lottery ticket or an inheritance. It’s patience, discipline, and a few smart financial moves repeated consistently over time — boring, I know.

If you’re earning a middle-class income and wondering whether becoming a millionaire is actually doable, the answer is yes. Here’s how more people are quietly joining the seven-figure club without ever needing to feel rich.

1. They prioritize investing early (even if it’s small)

You don’t need to max out every account right away. What matters more in building wealth is starting. A $200 monthly investment starting in your 20s can snowball into over $700,000 by retirement — without ever increasing your contribution. Wait until your 40s, and you’ll need to triple that monthly amount just to catch up. Time is the real secret weapon.

Want help knowing how much to invest and where? This no-cost quiz from our partner, SmartAsset, makes it easier to find a fiduciary financial advisor.

2. They live well below their means

Middle-class millionaires rarely “look” rich. They drive older cars, avoid a flashy lifestyle, and don’t waste energy keeping up with their neighbors. The less you spend, the more you can save and invest — and that’s where real wealth is created. Frugality is freedom, not a punishment.

A good rule of thumb is to aim to save at least 20% of your take-home pay — more if you’re starting late.

3. They automate everything

The most effective middle-class millionaires treat investing like a bill. Money moves from their checking account to their brokerage or IRA every month automatically. No need for willpower. No missed opportunities. Automation is the bridge between intention and action.

Want to get started with an account that makes it easy to automate your savings? Many high-yield savings accounts today offer APYs over 4.00%. See our top picks here.

4. They maximize free money

Employer 401(k) match? Take it. Credit card rewards? Use them wisely. Roth IRA growth? Tax-free. The middle-class millionaire knows how to play the long game — and they never leave free money on the table.

Even small wins, like using the right credit card for groceries or booking travel through rewards portals, can compound into serious value.

5. They own assets, not just stuff

True wealth is built with appreciating assets: stocks, real estate, small business equity. Middle-class millionaires prioritize buying things that grow in value, not just things that cost money to maintain. That’s why the average millionaire has multiple income streams — not just a job.

Want to see how close you are to hitting your millionaire target? With our partner, SmartAsset, you can get matched with up to three fiduciary advisors so you can get professional advice.

Stop waiting

Becoming a millionaire doesn’t require a corner office or an inheritance. It just takes consistent, intentional money moves made over time.

And the best time to start is today.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

“}]] Read More 

[[{“value”:”Image source: Getty Images
When I got the official job offer from Motley Fool Money a few months ago, I learned about a sweet little perk for new employees: a $1,000 bonus to invest however I want!Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. At first, I joked with my wife that we could drive to Vegas and bet it all on black. We could be there before lunch, celebrate with a buffet dinner, and maybe even double our money in one spin!But then I remembered that I am a boring, responsible adult with two small kids at home. I also write about money for a living, so I know exactly where to put my $1,000 bonus. The same reliable, wealth-building investment that’s been working for me for years: index funds.Why index funds still excite me (even if they’re “boring”)The main reason I love index funds is I don’t have to do anything!I make one single trade, and boom — all my money instantly gets split across hundreds of different companies. For example, if I buy an S&P 500 index fund, it’s like owning tiny pieces of 500 of the biggest companies in America.There’s no individual stock-picking. No second guessing. No babysitting my portfolio every week. I just go on living my life while the market (and compound growth) does all the heavy lifting for me.Another thing that fires me up? With a super broad index fund, I basically own a piece of all the big publicly traded companies in the U.S. When a buddy brags about owning Tesla stock? I’m like, “Me too!”Apple, Amazon, Google, or whatever the hot stock of the month is? “Same.”Owning an index fund means I don’t have to pick winners. I own the whole field.The market is “on sale” right nowThe stock market has been rocky this year, and nobody loves opening their investment app and seeing red numbers. But you know what? Times like this are incredible buying opportunities.My idol Warren Buffet (congrats on your retirement, BTW!) once said something that’s burned in my memory: “Be fearful when others are greedy, and be greedy when others are fearful.”I think it’s fair to say that there’s a healthy amount of fear floating around in 2025. That makes me even more excited to invest right now.Sure, the market might tank tomorrow. Or next month. Or a year from now. But I’m not going to sit around and try to time the bottom (nobody can). I want every available dollar invested and working for me for as long as possible, including this new $1,000 bonus.Looking for an advisor? You can use this free tool from our partner SmartAsset that can match you with up to three fiduciary advisors.What my $1,000 could grow intoI’m a long-term investor. The money I put away today won’t be touched for decades.Here’s what my $1,000 could turn into at an 8% average annual return:Invest PeriodFuture Value10 years$2,15920 years$4,66030 years$10,06240 years$21,724Data source: Author’s calculations.One simple investment today, left for decades, could be worth over 20 times as much.Vegas can wait. I like these odds better.How I choose which index funds to buyWhen picking index funds, I stick to three simple rules:Super broad: I want funds that cover large swaths of the market.Low fees: I always look for funds with expense ratios under 0.10%. Lower fees mean more money in my pocket.Consistency: Once I pick, I stay the course. I don’t jump ship because of scary headlines or short-term losses.One of my favorite index funds is a total stock market index fund (like Vanguard’s VTSAX or Fidelity’s FZROX), which basically covers every publicly traded stock in the U.S.But that’s just me — everyone should pick funds based on their own goals and risk tolerance.Also important to me is using a broker that offers free trades and no monthly fees.Want to compare your options? Check out our list of best online stock brokers today and find one that fits your investing style.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Joel O’Leary has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, and Tesla. The Motley Fool has a disclosure policy.”}]] [[{“value”:”

When I got the official job offer from Motley Fool Money a few months ago, I learned about a sweet little perk for new employees: a $1,000 bonus to invest however I want!

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

At first, I joked with my wife that we could drive to Vegas and bet it all on black. We could be there before lunch, celebrate with a buffet dinner, and maybe even double our money in one spin!

But then I remembered that I am a boring, responsible adult with two small kids at home. I also write about money for a living, so I know exactly where to put my $1,000 bonus. The same reliable, wealth-building investment that’s been working for me for years: index funds.

Why index funds still excite me (even if they’re “boring”)

The main reason I love index funds is I don’t have to do anything!

I make one single trade, and boom — all my money instantly gets split across hundreds of different companies. For example, if I buy an S&P 500 index fund, it’s like owning tiny pieces of 500 of the biggest companies in America.

There’s no individual stock-picking. No second guessing. No babysitting my portfolio every week. I just go on living my life while the market (and compound growth) does all the heavy lifting for me.

Another thing that fires me up? With a super broad index fund, I basically own a piece of all the big publicly traded companies in the U.S. When a buddy brags about owning Tesla stock? I’m like, “Me too!”

Apple, Amazon, Google, or whatever the hot stock of the month is? “Same.”

Owning an index fund means I don’t have to pick winners. I own the whole field.

The market is “on sale” right now

The stock market has been rocky this year, and nobody loves opening their investment app and seeing red numbers. But you know what? Times like this are incredible buying opportunities.

My idol Warren Buffet (congrats on your retirement, BTW!) once said something that’s burned in my memory: “Be fearful when others are greedy, and be greedy when others are fearful.”

I think it’s fair to say that there’s a healthy amount of fear floating around in 2025. That makes me even more excited to invest right now.

Sure, the market might tank tomorrow. Or next month. Or a year from now. But I’m not going to sit around and try to time the bottom (nobody can). I want every available dollar invested and working for me for as long as possible, including this new $1,000 bonus.

Looking for an advisor? You can use this free tool from our partner SmartAsset that can match you with up to three fiduciary advisors.

What my $1,000 could grow into

I’m a long-term investor. The money I put away today won’t be touched for decades.

Here’s what my $1,000 could turn into at an 8% average annual return:

One simple investment today, left for decades, could be worth over 20 times as much.

Vegas can wait. I like these odds better.

How I choose which index funds to buy

When picking index funds, I stick to three simple rules:

1. Super broad: I want funds that cover large swaths of the market.
2. Low fees: I always look for funds with expense ratios under 0.10%. Lower fees mean more money in my pocket.
3. Consistency: Once I pick, I stay the course. I don’t jump ship because of scary headlines or short-term losses.

One of my favorite index funds is a total stock market index fund (like Vanguard’s VTSAX or Fidelity’s FZROX), which basically covers every publicly traded stock in the U.S.

But that’s just me — everyone should pick funds based on their own goals and risk tolerance.

Also important to me is using a broker that offers free trades and no monthly fees.

Want to compare your options? Check out our list of best online stock brokers today and find one that fits your investing style.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Joel O’Leary has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, and Tesla. The Motley Fool has a disclosure policy.

“}]] Read More