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what's up everyone and in today's meet Kevin report we are talking about betterments announcement of their new high-yield savings plan asterisk we'll be talking about the generation that realtors hate the most and then we'll be talking about a shocker at a Starbucks in reference to their stocks the online investment advisor a betterment dot-com has just announced a brand new super high-yield a savings account that offers you two point six nine percent asterisk on your money risk-free and this video is about that asterisk see I first became skeptical of betterment com a few weeks ago I actually talked about that skepticism in another video where I realized wait a minute betterment com offers a two percent yield on your savings but I couldn't find any FDIC insurance so me being me I called the company and asked them what's going on here why why are you kind of skirting around that there's no FDIC insurance on your 2% savings account see in case you don't know when you put your money into a bank account like a savings account or a checking account and then let's say that company goes bankrupt your money is insured so you can't lose your money the government ensures it so that people don't go to a bank anytime there's a recession and take all their money out for fear that that bank is going to go bankrupt fun fact have you ever heard of safety deposit boxes yeah those actually don't have FDIC insurance so for example you could put $10,000 into a savings account with chase chase could go bankrupt and you'll still get your $10,000 back because the government ensures it however if you put that $10,000 into a safety deposit box and that money happens to go missing you got no insurance so FDIC insurance is very important you want that and that's why I was so skeptical of Betterman I'm like wait a minute you're offering a two percent savings account but there's no FDIC insured it's like what's going on and that's where they kind of in my opinion came clean and I'm sure there's some kind of you know fine print on their website that I just couldn't find quickly but they told me yeah our 2% savings plan is actually a low-risk investment into Treasury bonds and I'm like wait a minute what you're calling it a savings account but you're saying it's a low-risk investment let me just try to wrap my head around this with some code low-risk does not equal savings zero risk does equal savings and so that bothered me and I made a video talking about it only this is ridiculous well they must have seen it because they have canned that program now I'm sure they were some of the people who were smash the dislike button on that video I never understand why get them dislikes but hey oh well look the bottom line is if you're going to call something a savings account it better be a savings account and not like a low-risk investment okay I don't want to hear that and so when I saw a betterments announcement that they were going to have a two point six a 9% asterisk yield on their new savings account I became skeptical and that's when I realized come on betterment yeah had a chance you had a chance to beat out my other high-yield savings account recommendation which we'll talk about in a second you had a chance yet you had to put it in an asterisk and then you go down to see what this asterisk is all about and what do they say they say oh if you sign up for our checking account which we're coming out with soon then we'll give you two point six nine percent on your money for the rest of 2019 ah so it's an introductory rate that they are now plastering with ads all over the internet to try to compete with wealthfront who offers two point five seven percent the problem is betterments rate goes down to two point four three percent after 2019 ah like seriously betterment how much more expensive is it to just offer the two point six nine percent without the asterisk that is without this in Reducto a promotional period just offer people what you say you're offering them don't give them two point six nine percent to tell them not to go invest somewhere else and then tease them with that rate and lower it down to two point four three percent later it's it's just frustrating I know we're talking about small numbers here but I just don't like that I didn't like what you did with the savings account that was actually an investment into bonds and I don't like this teaser rate it's just I feel like it's manipulating people it's not cool you shouldn't do this now I'm sure you're gonna dislike this video as well but maybe take a hint and how about you just make up for this crap and come out with a 3% high-yield savings account bite the bullet pay the money to people and don't do this teaser rate junk you know what then I'd actually be very proud of you and think about the marketing publicity you'd get if you had a three percent savings account now in other news Redfin conducted a survey of about 500 real estate agents and found that one generation is pretty much the most hated generation for realtors to work for and guess which generation that is the millennial generation now the millennial generation happens to be my most popular client for helping people buy and sell houses it's also the most popular member of my real estate investing course link below Millennials are also the most interactive people they actually come to the private live streams they actually ask questions they ask for help and they let me help them which i think is awesome I'm here to help you all but apparently realtors in general think otherwise the biggest argument with Millennials seems to be that Millennials are not as loyal as other generations that is it's very easy to just one click to go view a home with a different company or different website or different agent and not necessarily have that one loyal agent that's helping you build your investment portfolio which was very very common back in the 80's 90's and often times still today where you almost have your real estate agent be you're in investment advisor and help you through the stages of growing wealth in real estate at least that's how I view real estate and that's exactly how I still run my business I will sit down with people and figure out hey how can we build you wealth over time maybe the true reason is maybe Realtors are just jaded people in fact the survey went on to say that most real estate agents would not recommend a career in real estate in fact only 21 percent of people would recommend being a real estate agent as a career so who knows maybe Millennials are secretly sniffing out a hidden dissatisfaction in the business in other news Starbucks stock is up a 6% some of you may know that I've been a fan of buying Starbucks to stock over the last couple of years I don't have much in the stock I've got maybe twelve or thirteen thousand dollars in it but it's a company that I've always been keeping a close eye on that stock is now up a six percent this is in part to chief executive Kevin Johnson's efforts to streamline and the service of that Starbucks provides this was sort of undoing some of what Howard Schultz did who was the chief executive before him by the way Howard Schultz has a really good book out of that you should read if you're at all interested in entrepreneurship sort of the story of how Starbucks started but really some incredible business advice in there I've a link to that book down below in the description so make sure to check that out and use that Amazon affiliate link thank you very much but anyway one of the biggest of drivers of their success also seems to be their mobile app a platform where you can pay with the app and collect stars there are now over 16 million people using the Starbucks a loyalty program and that continues to grow and to me this is a big middle finger to start up coffee shops around the world especially the ones located near Starbucks is why because for some reason when people have an app on their phone and they got the Starbucks gift cards and Starbucks stars to collect they're probably less likely to go to startup coffee shops and more likely to walk into Starbucks they've also been introducing and more expensive drinks and expanding into China and sales in China are actually doing very well which I have to say I personally was not expecting I was not hanging my hat at all on a Chinese growth because I personally thought getting an American company to gain a foothold in China I don't know I wasn't seeing it but hey I am fully impressed and to me that's a big game-changer now you might be wondering Kevin why do you think that Starbucks wouldn't work in China because a lot of companies have tried to get into the Chinese market tehsil is about to try to get into the Chinese market with the model 3 which I've got my fingers crossed will work out very well I believe in Tesla but here's the thing Amazon failed in China and so did Home Depot Home Depot had like 12 or 13 stores in China and literally closed all of them because it just didn't work out so it's not as easy to take American concepts and throw them into a foreign country and hope that they stick but somehow Starbucks is making it work but in the meantime I'll keep drinking my 5 cent Coffee Co the real estate investing car is looking forward to some more live streams with y'all folks remember to join before July 31st and keep in mind that it will be hosting a crash course in Seattle in a less than two and a half weeks we're just about to announce the location and I'm super excited to see y'all there
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