Mon Apr 22 2024, by Tyler Gardner
Why You Should Avoid Putting Money in a Savings Account
Hello, bank? Yes, I'd like to deposit $100,000 of my hard-earned money into a savings account.
Get off the phone, son.
Hang on a minute.
What?
You're just going to let the bank make money off of your money?
Yeah, but it's safe.
Hang up that phone.
Okay. A savings account is the biggest scam in finance.
What's the Alternative?
Learn how to make your money work for you. Consider options like low-cost index funds, bonds, certificates of deposit, or even high-yield savings accounts. Any of these alternatives allows your money to generate returns instead of just sitting there.
Where Did You Learn This?
Just follow SocialCap. He makes complex finance seem easy.
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