One Hour. One Decision. $1,000 Better Off.
This week’s newsletter is all about a personal finance quick hit—one simple step you can take today to immediately improve your finances. It’s low effort, low risk, and surprisingly high impact.
It’s not every day we talk about making $1,000 an hour. That kind of rate is usually reserved for top executives, elite consultants, or professional athletes. But for many Cardinal Health employees, there’s a simple financial move that can quietly deliver that kind of value—and it only takes about an hour of your time.
We’re talking about shopping for a high-yield savings account.
Even though we’ve been in a higher interest rate environment for several years now, I’m still surprised by how many prospects we meet who are losing thousands of dollars annually—simply because their cash is sitting in savings accounts paying close to 0%. It’s not a lack of discipline—it’s often just inertia. But the cost of that inertia adds up quickly!
Let’s say you have $30,000 in savings. At 0.10%, you’re earning just $30 a year. At 3.5%, you’d earn $1,050. That’s a $1,020 swing—just for moving your money from one account to another. And the time it takes to research, open, and transfer funds? About an hour.
Capital One 360 is currently offering 3.5% APY on its Performance Savings account. I have no affiliation with them—it just happens to be who I’ve personally used for more than a decade. Transfers in and out to your local bank are easy, and the setup is straightforward. And if you’re willing to do a bit of research, there are providers offering even higher rates.
That’s over $1,000 for just one hour of effort—no risk, no market volatility, just smarter cash management. And that’s only the first year. If rates stay elevated or your savings balance grows beyond $30,000, the value of that one-hour compounds even further. You could be saving thousands annually, all from a decision that takes less time than scrolling through your inbox or sitting through a single Teams meeting.
We’ve seen clients use this strategy to boost their emergency reserves, fund travel plans, or simply feel more confident knowing their cash is working harder. It’s not flashy. It’s not complicated. But it’s one of the easiest ways to capture meaningful value without taking on risk.
So if you’ve been meaning to revisit your savings setup, this might be the week to do it. One hour of focused action could be worth more than a full day’s pay. And if you’d like help evaluating options or understanding how this fits into your broader plan, I’m always here to help—one thoughtful step at a time.
Take care and, as always, stay the course.
Colburn Wealth Management, LLC is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.