One Hour. One Decision. $1,000 Better Off.

This week, we are looking at a personal finance "quick hit"—one simple step you can take today to immediately improve your finances. It is low effort, low risk, and surprisingly high impact.

It is not every day we talk about making $1,000 an hour. That kind of rate is usually reserved for surgeons, elite consultants, or professional athletes. But for many Cardinal Health employees, there is a simple, administrative financial move that quietly delivers that exact level of value—and it takes less than an hour of your time on a Saturday morning.

If you have turned on the news lately, you have undoubtedly seen the relentless headlines about climbing interest rates. From surging 30-year mortgage rates making home buying difficult, to higher car loan payments and climbing Treasury yields, borrowing money has undeniably become more expensive. However, there is a major silver lining to this environment that most people are completely missing out on: the exact same forces driving up your borrowing costs have also sent savings yields skyrocketing.

We are talking about moving your cash into a high-yield savings account (HYSA).

Even though we have been in a higher interest rate environment for several years now, I am still consistently surprised by how many new folks we meet who are losing thousands of dollars annually. Their cash is sitting in legacy brick-and-mortar savings accounts paying close to 0.01%. This isn’t a lack of discipline; it’s just life getting in the way. It’s inertia.

But at today's rates, the cost of that inertia adds up fast.

Let’s look at the math for a standard $30,000 emergency fund:

• The Big Bank Setup (0.10%): You earn a meager $30 a year.
• A High-Yield Savings Account (4.00%): You earn $1,200 a year.

That is over $1,000 just for moving money from Bank A to Bank B. The total time it takes to research a provider, open the account online, and link your existing bank? Less than 60 minutes.

Many popular providers like Capital One 360 Performance Savings are currently offering 3.50% APY. If you look at online-only institutions like SoFi, you can find rates pushing past 4.20% APY, though they often require a recurring direct deposit to unlock the highest tier. (Note: We have no affiliation or kickbacks with any of these providers—they are just tools we analyze for clients).

If you are a Director or VP managing a larger cash cushion—perhaps sitting on liquidity from your Cardinal MIP or LTI—the drag is even more painful. Leaving $100,000 in a traditional bank means you are leaving roughly $4K on the table every single year.

That is a massive penalty for a decision that takes less time than scrolling through your morning 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 more risk.

If you ever want to talk through your Cardinal benefits or your own situation, you’re welcome to schedule a relaxed Q&A. No cost, no pressure, and no expectation to meet again — just a chance to talk things through. CLICK HERE TO SCHEDULE  

Take care and, as always, stay the course.