Apple Savings is soon, iOS 17 interactive Widgets, 'Make Something Wonderful'

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Alleged details of iOS 17, the launch of Apple's long-awaited savings account, and the release of the new Steve Jobs book "Make Something Wonderful," and more, all on this week's episode of the AppleInsider Podcast.

iOS 17 will be announced in June
iOS 17 will be announced in June


It's been a busy week of rumors and your hosts discuss an alleged list of what's coming in iOS 17. At the same time, it looks like Haptic buttons won't be happening after all, though the separately-rumored programmable mute button might be useful.

Next, newly-discovered code plus an active backend seem to show Apple that could launch its Savings account as soon as Monday. There's no debate here -- both Wesley and Stephen will happily take advantage of the service whenever it becomes available.



This week also saw the release of a book that collects a series of Steve Jobs quotes and images was released. As good as "Make Something Wonderful" is as a book, your hosts discuss their hope for a documentary about Apple's founder on Apple TV+.

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Comments

  • Reply 1 of 8
    darkvaderdarkvader Posts: 1,146member
    Seriously?  "long-awaited" savings account?

    I don't think anybody is actually waiting for that.  Nobody uses savings accounts any more, the only reason I even have one is because my credit union makes me keep $1 in it so I can use my checking account.
  • Reply 2 of 8
    XedXed Posts: 2,619member
    darkvader said:
    Seriously?  "long-awaited" savings account?

    I don't think anybody is actually waiting for that.  Nobody uses savings accounts any more, the only reason I even have one is because my credit union makes me keep $1 in it so I can use my checking account.
    You really need to think before you type. You claim that "nobody uses savings accounts any more[sic]" and yet you can find a very large market for competitive high yield savings accounts -and- plenty of evidence of newly created ones, including evidence that Apple will be launching one soon, now that the Fed keeps increasing the rate, which clearly shows that people are using them. I recently recommended one to people I know that use their bank's savings account, but it's crappy 0.2% APR (which is probably close to your credit union) when they can make a simple and free ACH to something like Goldman Sachs' Marcus to get 3.9% which will probably be increasing again soon.

    Personally, I much prefer a higher yield but that doesn't mean I don't see the benefit for more conservative investors that don't want to forbid access for x-duration in a CD or take 
    on a risk with stocks and mutual funds, kind of like I don't see myself using Apple's Pay Later, but I don't see why those are popular and why someone may use them.
    edited April 2023
  • Reply 3 of 8
    Wesley HilliardWesley Hilliard Posts: 205member, administrator, moderator, editor
    darkvader said:
    Seriously?  "long-awaited" savings account?

    I don't think anybody is actually waiting for that.  Nobody uses savings accounts any more, the only reason I even have one is because my credit union makes me keep $1 in it so I can use my checking account.
    Count me as at least one person who's been waiting on the Apple Savings account. I'm interested in seeing how it works and will absolutely use it in place of my bank's standard savings account.
  • Reply 4 of 8
    neoncatneoncat Posts: 152member
    "Nobody uses savings accounts anymore."

    lol. I have the standard 6 months living expenses for my family of 3 in a high-yield savings account (~3.5%) which is currently earning about $1300 a year in interest. Highly liquid, instantly available in the event of an emergency or other sudden household need, without having to raid the much, much larger amount of money I have in a range of investments where cashing out can involve tax complexities and lost earning opportunities, and certainly better than leaning on usurious consumer debt. The right financial tool for the job.

    I have no idea of Apple's savings account will make any sense for me compared to existing options (if it's anything like the Apple Card, probably not), but more options in the marketplace are always welcome.

    Like someone else said: Think before you type. Financial diversity is the key to staying ahead of life's challenges and setting your own priorities instead of being at the mercy of others'.
    edited April 2023 ramanpfaff
  • Reply 5 of 8
    XedXed Posts: 2,619member
    neoncat said:
    "Nobody uses savings accounts anymore."

    lol. I have the standard 6 month's living expenses for my family of 3 in a high-yield savings account (~3.5%) which is currently earning about $1300 a year in interest. Highly liquid, instantly available in the event of a emergency or other sudden need, without having to raid the much, much larger amount of money tied up in higher-earning investments where cashing out can involve capital gains and lost earning opportunities. The right financial tool for the job.

    I have no idea of Apple's savings account will make any sense (if it's anything like the Apple Card, probably not—too much hype, but weak where it counts), but more options are always welcome.

    Like someone else said: Think before you type. Financial diversity is the key to not being an idiot who's always facing yet more debt as the only solution to life's challenges. 
    Having at least 6 months of expenses is a HYSA is a great plan, but you may want to consider other options for future potential need. Specifically, an LAL (Liquidity Access Line) is something to consider. I don't think all brokerages do it, but the more established ones do it. If you aren't aware, it's basically a loan against your investments that tend to be very low cost loans because they're secured by your investments.

    This was before the Fed hikes, but I know Morgan Stanley had fixed rate loans for under 2% for a large variety of years. Since my stocks make a lot more than that it was both a way to let investments grow and avoid paying taxes on the sale of the stocks. Even when they are due, if I have to sell stocks to pay them off, you still get options like letting it ride at whatever the interest rate is.

    I have one that has matured but I still haven't paid it because I'm earning more from the stock than I am from the variable interest rate it now has. At the very least, I'd look into getting an LAL setup (took a couple weeks for me) because then it only takes an hour for your brokerage firm to issue you funds via a wire to the account of your choice.
    neoncat
  • Reply 6 of 8
    neoncatneoncat Posts: 152member
    Xed: Totally, there are lots of options and yours is a great one I hadn't considered. I probably should've been more clear that my main thesis was "options in the marketplace are welcome." Whether that be a traditional savings account, high-yield, money market, or something more bespoke like you suggest. 

    It just rubbed me the wrong way that there was the suggestion that a savings account, as one option among many, had no purpose. It can and does depending on individual circumstances.
    edited April 2023
  • Reply 7 of 8
    XedXed Posts: 2,619member
    neoncat said:
    Xed: Totally, there are lots of options and yours is a great one I hadn't considered. I probably should've been more clear that my main thesis was "options in the marketplace are welcome." Whether that be a traditional savings account, high-yield, money market, or something more bespoke like you suggest. 

    It just rubbed me the wrong way that there was the suggestion that a savings account, as one option among many, had no purpose. It can and does depending on individual circumstances.
    Understood. I also rebuked the OP for that absurd suggestion. I was just pointing out an excellent option for vested individuals that is still a fairly unknown option.
    neoncat
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