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Why you shouldn’t risk your own money in the market for a 9% return 

Investing
Deposits in Market Savings are FDIC insured and the investments are made by Save on your behalf to generate a higher return on your principal. 

Deposits in Market Savings are FDIC insured2 and the investments are made by Save on your behalf to generate a higher return on your principal. 

The Market Savings program is a unique alternative to traditional saving and investing products thanks to the dynamic duo of FDIC insurance and market returns.  

There are several investment options for investors to choose from, including investing on your own, investing in CDs, bonds, Treasury Bills, fixed indexed annuities, etc. This article will reveal how the Market Savings program differs from these investing avenues.  

I could invest on my own 

Over the past 20 years (2001-2021), the average annual return on the S&P 500 is 9.87%, according to New York School of Business researcher Aswath Damodaran’s “Historical Returns on Stocks, Bonds, and Bills: 1928-2021.” While this is greater than the Market Savings 5-year term’s 9.33% APY,1 it isn’t FDIC insured. Market Savings deposits are FDIC insured up to $250,000 per depositor, per bank.2 

Therefore, it all depends on your personal return goals and your risk tolerance. A $1,000 investment in stocks might achieve a return higher than the Market Savings program, but if the equity market declines, you may lose a substantial part of your principal.  

With the Market Savings program, your deposit is FDIC-insured,2 your investments will utilize sophisticated investment approaches that allocate across several asset classes in seeking to provide stable returns over time, and dividends paid out by the ETFs in the portfolio are reinvested automatically. 

Even if your Save investment strategies could have periods with a negative performance, your deposit is secure.  

I could invest in the ETFs Save uses to avoid the management fee 

Once again, it depends on your personal return goals and your risk tolerance. With the Save Market Savings program, your deposit is FDIC-insured,2 and Save utilizes sophisticated investment approaches in order to provide substantial, reliable returns – making the most of the decades-worth of portfolio construction and financial product development experience across the Save team.  

These are the same academic approaches utilized by sophisticated hedge funds, pension funds, and insurance companies – delivered by the Market Savings program without intermediaries, and with a reasonable fee that is only charged if the investment portfolios perform.  

Direct investment in ETFs could provide greater or smaller returns with the risk that you could lose some of your original investment.  

Treasury Bills  

T-bills: It depends on your personal return goals and your risk tolerance. As described by the SEC, Treasury Bills “are considered one of the safest investments because they are backed by the full faith and credit of the U.S. government.” Hence, your investment is likely safe, but your returns are not likely to be particularly high.  

Series I savings bonds 

Inflation-proof Series I savings bonds are a great option for investors, especially now since the rate is 9.62% for the first six months. But there are some downsides. After the initial 6 months, though, the rate may fluctuate depending on economic conditions. Additionally, the program is limited to $10,000 per person and per married couple and carries penalties for early withdrawal before the 5-year maturity.  

Alternatively, the Market Savings program is capped at $250,000 per depositor because that is the maximum coverage FDIC insurance offers. While not as high at the 6-month bond rate, the APY for the 1-, 2-, and 5-year terms are 5.73%, 5.78%, and 9.35%.1  

CDs and market-linked CDs 

A CD may also be an FDIC-insured option that pays a fixed rate and, in some cases, a market-linked return (market-linked CDs), but the Market Savings program offers APYs significantly higher than fixed-rate CDs.1  

The Market Savings program also yields higher potential APYs than market-linked CDs because we use our proprietary investment strategies and don’t charge commissions or fees beyond our management fee.1  

Some CDs also carry a significant unwind penalty that diminishes the overall product return compared to the Market Savings program.  

Fixed Indexed Annuity 

The Market Savings program is very similar to a Fixed Indexed Annuity, except for a couple of things, which are listed in the chart below.  

Features Market Savings Fixed Indexed Annuity 
FDIC Insured Yes No 
Term Length 1-, 2-, and 5-years  Usually >5 years  
Fees Charged  Save charges a 0.35% fee only when there is a return above 0.35%.  Fees up to 5% upfront 
Tax efficient investments Yes Yes 

The safety of your money is just as important as the return they generate. If you’re looking for an account with high-growth potential without a risk to your principle, consider Market Savings. Learn more about the perks of banking with Save here.   

1 Generally, an APY (or annual percentage yield) is the yearly return on a bank or investment account. Save Market Savings is a hybrid product and service that includes deposit account linked to an investment product. The deposit account portion of the Save Market Savings product and service is provided by Webster Bank, N.A., Member FDIC; and is non-interest bearing with a 0% APY. The investment portion of the Save Market Savings product and service offers the potential to earn an APY with a variable rate (Variable APY).  The Variable APY, if any, is derived from the investments made by Save on behalf of the customer within Save’s portfolio of strategies over the duration of term length selected by the customer.  The Variable APY, if any, will be equal to the cumulative return for the investments selected for you by Save for the term selected on the applicable maturity date. The Variable APY may be 0% but will never be less than the Minimum Variable APY of 0% per annum.  Assuming a minimum Variable APY of 0% per annum, if the Variable APY applicable to a particular maturity date is less than or equal to the Minimum 0%, the customer will not receive any Variable APY return for that investment upon maturity.  Variable APY’s are subject to change at any time.  Variable APY is not guaranteed.  The Variable APY presented is hypothetical in nature and reflects the potential growth that could accrue if the investment is held for the entire term selected.  Variable APY’s are based on hypothetical back-tested performance in the Save Moderate Portfolio from 2006 to present and are shown net of fees. Hypothetical back-tested performance is no guarantee of future performance and actual results will vary. For more detailed information please see Hypothetical Back-testing. The minimum deposit amount is $1,000 for the 1-year term and $5,000 for the 2-year and 5-year term. Deposits are FDIC-insured up to the maximum allowed by law, $250,000 per depositor, per bank. Management Fees associated with the investments may reduce earnings on the account. Customer withdrawal prior to maturity could result in additional associated costs. 

2 To obtain FDIC insurance coverage, customer funds provided will be deposited into non-interest-bearing accounts at Webster Bank. FDIC insurance coverage for funds deposited at Webster Bank is limited to not more than $250,000 per depositor, per FDIC-insured bank, per ownership category. Actual deposit insurance coverage may be lower if you have other funds deposited at Webster Bank, N.A.. Customers are responsible for determining the amount deposited in each account at Webster Bank, N.A., and for monitoring the total amount of their deposits at Webster Bank, N.A., to determine the extent of available FDIC insurance coverage in accordance with FDIC rules. Learn more at: https://www.fdic.gov/deposit/deposits. Only the funds customers provide and deposit with Webster Bank, N.A. will be eligible for FDIC insurance. Webster Bank is not providing any investment advice or responsible for the purchase or performance of any investment contracts. The funds held in the Apex Clearing Corporation accounts are not FDIC-insured, are not bank guaranteed, and may lose value with a minimum return of zero. Maximum balance and transfer limits apply. Neither Save Advisers, LLC, nor its affiliates, are a bank. Apex Clearing Corporation is a member of the Securities Investor Protection Corporation (“SIPC”), formed by Congress to protect “customers” of broker-dealers and to promote public confidence in the U.S. securities markets. Customers of a SIPC Member that fails financially are afforded certain benefits under the Securities Investor Protection Act (“SIPA”). These benefits are relevant only if the broker-dealer that “carries” a customer’s account fails and is liquidated under SIPA. At Apex Clearing Corporation, your investments are protected by SIPC up to a maximum of $500,000 total, including $250,000 in cash balances. Coverage limitations apply. To learn more about SIPC coverage, visit the SIPC website at www.sipc.org.  

4 ways financial literacy is built with Save

Finance
Woman biking with children

This is how the Market Savings terms can teach financial literacy and save you money.

The significance of five years is extremely relative. The five years until your middle-schooler leaves for college seems like a lifetime away, but it flies by in an instant. 

Let’s say you put $5,000 in a 5-year Save® Market Savings term in the summer before your child’s 8th-grade year, then you make an additional $5,000 deposit for a 2-year term the summer before they started their junior year in high school.

Where most savings accounts would earn less than 3% in interest, the Market Savings 5-year term’s 9.35% average annual return and 2-year term’s 5.78% average annual return* potentially could earn the following return when they graduate:

YearFDIC-insured deposit amount and term length**Average annual return per term*Potential annual gains
8th grade$5,000, 5-year term9.35%$467
9th grade9.35%$467
10th grade9.35%$467
11th grade$5,000, 2- year term9.35%, 5.78%$467 + $289
Graduation9.35%, 5.78%$467 + $289
Total$10,000$2,913

At the end of the terms, your child’s Market Savings program could mature to $12,913 at the time of their graduation. Not only this, you can get a jump on teaching your child about financial literacy by utilizing the Market Savings terms.

According to Investopedia, financial literacy is “the ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing.” 

As the pandemic has proved, it’s important to establish monetary security, adaptability, and backup plans in the face of unexpected crises. But according to a study conducted by the FINRA Investor Education Foundation, less than 35% of Americans can be considered financially literate. 

The drastic effects of this statistic are illustrated by the US Federal Reserve, which revealed from a survey from July 2020 to May 2021 that a $400 emergency would be difficult to cover for 35% of Americans. Unfortunately, many adults faced this reality in the wake of the pandemic, but utilizing financial tools like the Market Savings program can help ease financial surprises.

How can Save build a foundation of financial literacy?

Only 23 states require financial literacy classes in high school, and 25 states don’t even require economics. Unsurprisingly, one in three students failed the National Financial Educators Council’s Financial Foundation Test in 2021. When considering our children’s financial education, it’s important to implement financial literacy in their everyday life.

The Market Savings program offers the perfect introduction for your child to practice money management before going off on their own. 

Here are four lessons the Market Savings program can offer your child:

  1. Insurance

    Insurance provides stability and security in the face of uncertainty. While developing a foundation of financial literacy, your children will come to understand that protecting their money is crucial as well.

    Deposits into the Market Savings program are FDIC insured up to the maximum amount the law allows, meaning you are guaranteed security of your initial deposit up to $250,000.** In other words, while your child engages with their account to learn how the stock market works, they’re not actually risking their deposit in the stock market.
  2. Budgeting

    Financial planning skills are the root of financial literacy. After all, before you can maximize your wealth potential by investing, you have to have money to invest.

    By empowering your child with their own Market Savings program, you allow them to practice essential financial-planning skills like budgeting. Introduce them to basic concepts like the 50/30/20 rule, in which budgeters allocate 50% of their income to necessities, 30% to their wants, and 20% to financial goals.

    Review the budget together monthly to discuss how much they save, how often they withdraw, and how it aligns with their goals. By giving kids the opportunity to manage assets early on, you provide the security of your own experience and knowledge to help them navigate their financial future.
  1. Understanding Market Access

    Remember when I said, “before you can maximize your wealth potential by investing, you have to have money to invest”? This is true, but the Market Savings program gives customers market access with a bit more security.

    Save invests in a diversified portfolio on the behalf of customers based on their deposits. This is done at no risk to your funds thanks to the FDIC insurance protecting your Market Savings initial deposit.**

    The Market Savings program has three terms that generate three potential returns. With average returns of 5.73% for 1-year terms up to 9.35% for 5-year terms,* the longer your money stays in your account, the higher your annual return.

    At the end of the term, you receive a direct deposit with the gains from the investment’s returns (not the investments themselves), minus Save’s 0.35% management fee. If your returns are less than 0.35%, you aren’t charged a fee. Save provides customers market access, customers collect the returns, while their initial deposits remain FDIC insured.**

    By using the Market Savings program to build financial literacy, you also prime your kid to be a successful participant in the stock market. Financial literacy leads to portfolio diversification, which leads to better returns. And while your child builds this foundational knowledge, Save maximizes their money’s potential in the meantime by investing on their behalf. 
  2. Inflation

    Inflation can be confusing, but it’s a fact of life: your dollar is worth drastically more today than it will be when your child is an adult. Luckily, the Market Savings program can buffer inflation’s diminishing effect on your child’s money with returns up to 9.35%.* 

    As the Federal Reserve aims to keep inflation around 2% yearly, even the shortest Market Savings term can combat the effects of inflation. The 1-year term’s 5.73% return* still vastly outperforms the average savings account, which only returns about 0.13%

    No matter what term you go for, the Market Savings program can help cover the cost of inflation. To top it off, all deposits are FDIC insured,** and if you don’t make money, Save doesn’t charge a fee. It’s a conservative way to allow your kid to participate in the market, observe inflation’s effects, and potentially reap 9.35% returns.*

Beyond that, the foundational knowledge they’ve built is invaluable. We should never stop improving our financial literacy, and your family can start with Save’s new Market Savings terms today.

* Average annual returns reflect the most recent deposit rates and are based on hypothetical back-tested performance in the Save Moderate Portfolio from 2006 to present and are shown net of fees. Hypothetical back-tested performance is no guarantee of future performance and actual results will vary. Returns are subject to change daily. For client accounts, the average annual return percentage calculated across the full term length of investment will never reflect returns of less than 0%. Calculations of average annual returns based on hypothetical back-tested performance across any term length of investment of one (1) year or greater are based on an assumption of sequential reinvestment of the principal and any returns of each such security into a new hypothetical strategy-linked security effective on the maturity date of the predecessor security. All return figures shown are for informational purposes only and are not actual customer returns. For more detailed information please see https://joinsave.com/hb-moderate 

**To obtain FDIC insurance coverage, customer funds provided will be deposited into non-interest-bearing accounts at Webster Bank. FDIC insurance coverage for funds deposited at Webster Bank is limited to not more than $250,000 per depositor, per FDIC-insured bank, per ownership category. Actual deposit insurance coverage may be lower if you have other funds deposited at Webster Bank, N.A.. Customers are responsible for determining the amount deposited in each account at Webster Bank, N.A., and for monitoring the total amount of their deposits at Webster Bank, N.A., to determine the extent of available FDIC insurance coverage in accordance with FDIC rules. Learn more at: https://www.fdic.gov/deposit/deposits. Only the funds customers provide and deposit with Webster Bank, N.A. will be eligible for FDIC insurance. Webster Bank is not providing any investment advice or responsible for the purchase or performance of any investment contracts. The funds held in the Apex Clearing Corporation accounts are not FDIC-insured, are not bank guaranteed, and may lose value with a minimum return of zero. Maximum balance and transfer limits apply. Neither Save Advisers, LLC, nor its affiliates, are a bank. Apex Clearing Corporation is a member of the Securities Investor Protection Corporation (“SIPC”), formed by Congress to protect “customers” of broker-dealers and to promote public confidence in the U.S. securities markets. Customers of a SIPC Member that fails financially are afforded certain benefits under the Securities Investor Protection Act (“SIPA”). These benefits are relevant only if the broker-dealer that “carries” a customer’s account fails and is liquidated under SIPA. At Apex Clearing Corporation, your investments are protected by SIPC up to a maximum of $500,000 total, including $250,000 in cash balances. Coverage limitations apply. To learn more about SIPC coverage, visit the SIPC website at http://www.sipc.org.

Following the Rule of 72, potentially double your Market Savings deposit in less than 8 years

InvestingFinance
Rule of 72 shows you should double your deposit in 8 years

How long does it take an investment to double in value? Meet the Rule of 72. This is a simplified equation used to estimate the number of years an investment may take to double at a given annual rate of return.

The Rule of 72 states that you can get an estimate of how long a sum of money will take to double by dividing 72 by the rate of return: 

72 / (annual return) = (years for principal to double) 

An example: An investment with a 9% annual return, means your money should double every 8 years.  

The Rule of 72*

YEARS 9% 
$10,000 
$19,926  
16 $39,703
24 $79,111   
32 $157,633 
40 $314,094 

We believe savings accounts should give you that kind of return, not just risking your money in the market, thus why we created the Market Savings program, which combines the safety of an FDIC-insured bank account with the return potential from investing in the market.  

The core investment philosophy of Save is to generate stable returns on savings or deposit instruments and other cash accounts using market investments that do not require any customer outlay of capital but, rather, utilize the economic value of that cash or cash transactions as its principal. 

That economic value could be due to interest that the customer forgoes or savings in fees that would have otherwise been paid directly or indirectly on customers’ transactions. Those external revenues to the customers’ savings/spending are used to finance the investment and ensure it doesn’t lose value.  

Save can achieve such high return potential1 by investing on your behalf in a diversified market portfolio based on your risk preferences. While typical investments in the market can be risky, your Market Savings deposits are FDIC-insured2, meaning 100% of it is protected to the maximum allowed by law.  

That’s what makes it so unique — you get the security of a bank account and the earning potential of an investment portfolio. Maximizing your current savings account’s earning potential will help you build wealth faster. 

The chart below breaks down the Rule of 72 for other return rates compared to the Market Savings program’s 9% average annual return:1 

Rule of 72 Rate Comparison*

YEARS 1% 3% 9% 
$10,000   $10,000   $10,000  
$10,829   $12,668   $19,926  
16 $11,726   $16,047   $39,703  
24 $12,697   $20,328   $79,111  
32 $13,749   $25,751   $157,633  
40 $14,889   $32,620   $314,094 

Your choice: 24 years with traditional savings accounts or a little over 8 with the FDIC-insured 5-year Market Savings term.  

To get an even more accurate comparison with interest rates that fall outside of 6-10%, the Rule of 72 changes. In these cases, you can utilize this compound interest calculator from the SEC to calculate how much your money can grow. 

* This table serves as a demonstration of how the Rule of 72 concept works from a mathematical standpoint. It is not intended to represent an investment. The chart uses constant rates of return, unlike actual investments which will fluctuate in value. It does not include fees or taxes, which would lower performance. It is unlikely that an investment would grow 10% or greater on a consistent basis. 

1 Average annual returns reflect the most recent deposit rates and are based on hypothetical back-tested performance in the Save Moderate Portfolio from 2006 to present and are shown net of fees. Hypothetical back-tested performance is no guarantee of future performance and actual results will vary. Returns are subject to change daily. For client accounts, the average annual return percentage calculated across the full term length of investment will never reflect returns of less than 0%. Calculations of average annual returns based on hypothetical back-tested performance across any term length of investment of one (1) year or greater are based on an assumption of sequential reinvestment of the principal and any returns of each such security into a new hypothetical strategy-linked security effective on the maturity date of the predecessor security. All return figures shown are for informational purposes only and are not actual customer returns. For more detailed information please see https://joinsave.com/hb-moderate.

2 To obtain FDIC insurance coverage, customer funds provided will be deposited into non-interest-bearing accounts at Webster Bank. FDIC insurance coverage for funds deposited at Webster Bank is limited to not more than $250,000 per depositor, per FDIC-insured bank, per ownership category. Actual deposit insurance coverage may be lower if you have other funds deposited at Webster Bank, N.A. Customers are responsible for determining the amount deposited in each account at Webster Bank, N.A., and for monitoring the total amount of their deposits at Webster Bank, N.A., to determine the extent of available FDIC insurance coverage in accordance with FDIC rules. Learn more at: https://www.fdic.gov/deposit/deposits. Only the funds customers provide and deposit with Webster Bank, N.A. will be eligible for FDIC insurance.  Webster Bank is not providing any investment advice or responsible for the purchase or performance of any investment contracts. The funds held in the Apex Clearing Corporation accounts are not FDIC-insured, are not bank guaranteed, and may lose value with a minimum return of zero. Maximum balance and transfer limits apply. Neither Save Advisers, LLC, nor its affiliates, are a bank. Apex Clearing Corporation is a member of the Securities Investor Protection Corporation (“SIPC”), formed by Congress to protect “customers” of broker-dealers and to promote public confidence in the U.S. securities markets. Customers of a SIPC Member that fails financially are afforded certain benefits under the Securities Investor Protection Act (“SIPA”). These benefits are relevant only if the broker-dealer that “carries” a customer’s account fails and is liquidated under SIPA. At Apex Clearing Corporation, your investments are protected by SIPC up to a maximum of $500,000 total, including $250,000 in cash balances. Coverage limitations apply. To learn more about SIPC coverage, visit the SIPC website at www.sipc.org. 

University of Houston Graduate Students Join Save’s Development and Security Teams

Save CultureFinanceSecurity
This summer, University of Houston students Nilesh Dikhale and Aditya Pendse will gain startup culture experience before entering their final school year.

This summer, University of Houston students Nilesh Dikhale and Aditya Pendse will work alongside the development and IT security teams, respectively, to gain startup culture experience before entering their final year in graduate school.

As Save continues development on improving our systems and product offerings, Nilesh and Aditya will help the team execute our newest product offerings, including the Wealth Card and Market Savings account, and ensure they’re secure.

For both University of Houston graduate students, the startup environment is an appeal because of the opportunities to own and manage a diverse range of responsibilities. More specifically, Nilesh particularly was impressed with the platform and the accounts themselves.

“Save captivated me with its visionary idea about creating a savings platform that will be beneficial for regular people, as well as improving their financial wellbeing,” Nilesh said. “Secondly, Save’s culture thrives on continuously improving their products and providing the best experience to their customers and this aligns with my goals of exploring ways to improve continuously.”

In his studies at the University of Houston, Nilesh is focused on machine learning and artificial intelligence and his previous projects focused on connecting databases, handling multi-threaded applications, and working with data structures. He also has nearly 5 years of experience as a software developer working in Java, Oracle, SQL, Spring Framework, and Spring Boot technologies.

“I wish to explore and learn the investment domain and how Save fits in that domain,” Nilesh said when asked what he hopes to learn from his internship with Save. “Also, I feel there are a lot of opportunities to learn from in various aspects of software development. I want to study and gain knowledge in the development process and implement the knowledge I get.”

Aditya looks forward to “exploring the diversity of responsibilities concept, which I might’ve missed out on in a Fortune 500 company.”

“Additionally, the possibility of working on almost everything that touches the information security domain was insightful,” Aditya said. “I also want to create cybersecurity policies, procedures, and security reviews; learn about the workings of governance, risk, and compliance domains; work collaboratively with software developers to go deeper into the DevSecOps approach; lastly, carry out configurational changes on various platforms to mitigate the security vulnerabilities.”

The University of Houston graduate students are joining Save along with Rice University’s Durga Parulekar, Yifei Ren, and Anusha Muddapati.

Durga, Yifei, and Anusha are all completing their Master of Computer Science degrees at Rice University and will join Save’s team of developers to build out the technology Save runs on and more efficiently utilize Save’s internal data.

Durga and Yifei will use their experiences across these topics to help the development team build out additional portals for Save’s customer support and development teams to better serve our customers and troubleshoot issues when there are any. With Anusha’s data scientist background, she will focus on how to best utilize the internal data Save has to improve the Save app and online dashboard’s performance, as well as connect with potential customers online while working on the marketing team’s paid strategy goals.

Save continues to invest in the professional development of local Houston students. If you’re interested in Save’s future positions, follow us on LinkedIn.

Save’s summer internship welcomes Rice University computer science students

Finance
Save is proud to welcome Rice University’s Durga Parulekar, Yifei Ren, and Anusha Muddapati to our development team.

Save is proud to welcome Rice University’s Durga Parulekar, Yifei Ren, and Anusha Muddapati to our development team.

Durga, Anusha, and Yifei are all completing their Master of Computer Science degrees at Rice University and will join Save’s team of developers to build out the technology Save runs on and more efficiently utilize Save’s internal data.

Prior to joining, Save connected with all three students to learn more about their education, favorite development projects, what they hope to learn while at Save, and how Houston helps them feel connected to their home overseas. 

Their computer science education will help the Save team improve our products and account offerings. With Anusha’s data scientist background, she will focus on how to best utilize the internal data Save has in order to improve the Save app and online dashboard’s performance, as well as connect with potential customers online while working on the marketing team’s paid strategy goals.

“When I interviewed with Save, I loved how the team discussed how important the data scientist role is,” Anusha said. “I wanted to work for a firm where my work is valued and has an impact on making business decisions and Save seemed to be the perfect place for that. A team that believes in fresh talent and a role that perfectly aligns with my future goals and interests made me decide to take up the offer.

“I hope to expand my academic learning by solving real fintech problems, which I believe is a great start for an aspiring data scientist,” she continued. “Along with improving my technical expertise by collaborating with the marketing, managing, and development teams, I look forward to an amazing networking opportunity this summer.”

Their degrees in computer science encompass topics like programming languages, computer networks, cybersecurity, database management, artificial intelligence, and machine learning. Durga and Yifei will use their experiences across these topics to help the development team build out additional portals for Save’s customer support and development teams to better serve our customers and troubleshoot issues when there are any.

“This degree provides me with the building blocks for every pillar in the tech industry,” Durga said. “Having this knowledge will allow me to leverage technology into projects that benefit society.”

After all, benefitting society is the ultimate goal of Save. Save was founded on the premise that investment vehicles that are traditionally only reserved for professional investors, should be available to everyday people with less risk.  This is yet another factor that attracted the Rice University students to Save.

“When thinking about how I will be contributing to products that make many peoples’ lives better, I feel proud, excited, and accomplished,” Yifei said. “Additionally, I like the team at Save. They all love what they are doing, and they are highly experienced in the financial industry. For example, the CEO and founder, Michael Nelskyla, has worked as the Managing Director at multiple top-tier investment banks. I firmly believe that Michael, the COO Adam Watts, the Director of Engineering Sachin Kulkarni, and other colleagues can drive the company to success together.”

Durga mirrored this sentiment saying, “I think Save is a game-changer for people with no experience in investing to get an opportunity to reap the benefits of higher returns. To use myself as an example, the world of finance is a mystery to me, and I am very excited to learn more about finance and investing.”

Additionally, all three students are a great reflection of Houston’s vast diversity as a city.  Each student joined Rice University from different parts of the world after completing their past degrees. Durga came to Houston after finishing her Bachelor and Master of Science in Information Technology at Mumbai universities. Yifei’s education has allowed him to travel from his home country of China to the Netherlands, and Anusha completed her undergraduate in Visakhapatnam, India.

With being so far from home, Durga, Yifeo, and Anusha can get a bit homesick while at Rice University, but thankfully, Houston provides an ideal culinary landscape to stay connected to hometown cuisine. Additionally, the Save team benefits from their authentic restaurant recommendations.

“I miss the variety of flavorful street food options that I used to have in India since I’m a vegetarian,” Durga said. “I frequently visit a restaurant called Shiv Sagar on Hillcroft. Shiv Sagar offers a wide selection of authentic Indian street food. My favorite dish there is Vada Pav, which is an Indian burger with a spicy potato patty.”

For Yifei, it’s Tiger Noodle House in Rice Village. “The food there is really delicious and authentic. It tastes just like the food in China,” he said. “Most restaurants in China Town are also good, but they are too far away from Rice University, so I don’t often go there.”

Save continues to invest in the professional development of local Houston students. If you’re interested in Save’s future positions, follow us on LinkedIn.

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