4 ms·

I'm sure your dad has a lot of money and all, but saving money works pretty well for most people.

• iofj 10y ago
  Look at the interest rate. Now look at inflation (not "core" inflation, the one you pay). Saving, money in bank, is not a good investment atm. Or put differently, it's at best as good as gold bars under the bed.
  • readme 10y ago
    So yes, you not only have to save the money. You need to invest it. I was not going into explicit detail, but pontificating on the idea of saving as opposed to spending. With that said, one of my banks offered me a 3.00% APY on a CD the other day. Still not really enough for me. I would prefer to throw the money in index funds and wait longer.
    • iofj 10y ago
      Investing it is rapidly ceasing to be an option. For instance, you cannot realistically defend that the old risk profiles still work for balanced portfolios (bond-stock risk split) at this level of central bank intervention. Btw: where do you get 3% APY ?