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While I'm a big believer in this kind of saving, inflation is a reality and a huge deterrent for long term savings that doesn't involve some kind of interest, c
by kyuudou 7y ago
While I'm a big believer in this kind of saving, inflation is a reality and a huge deterrent for long term savings that doesn't involve some kind of interest, compound or not.
But then there was that 2008 economic crisis... sigh still, better to have savings than not and there are some decent (5% ish) savings accounts that generate interest with minimal risk.
- epicgiga 7y agoPutting it all in cash is unwise when you've got a substantial amount -- at which time people naturally look to diversify anyway. But for the people this is good advice for, worrying about diversification is out of scope. Get 1 year's USD in the bank before that.