Sun Mar 09 2025, by Tyler Gardner
How to Make 24 Times More Than Your Traditional Savings Account
Here's exactly how you can make 24 times more money than what you're currently earning in your traditional savings account.
1. Open Two Accounts
The first step is to open two accounts: a high-yield savings account and a Roth IRA.
2. Utilize the High-Yield Savings Account
If you need the money and can't afford to lose it, place it in the high-yield savings account. Congratulations! You’re now earning 10 times more than the national average on a traditional savings account.
3. Invest for the Long Term
And here’s where it gets spicy. If you don’t need the money immediately and want it to work for you, invest it in your Roth IRA in a low-cost index fund that tracks the S&P 500. Over the long run, this strategy could yield you returns up to 24 times what your cash is making in a traditional savings account.
Consider Your Options
Or, you could continue to let your money sit in a traditional savings account, where it’s currently earning you about negative 2% post-inflation. The decision is yours!
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