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By storing your money you are missing out on any potential gains from investing it instead. AKA Opportunity costs.
by krono 5y ago
By storing your money you are missing out on any potential gains from investing it instead. AKA Opportunity costs.
- wil421 5y agoYou have to keep cash on hand for emergencies. I can’t wait to cash out a mutual fund or stocks. Not to mention that I don’t want certain savings, such as a new car, to be at the mercy of the market. A couple years ago I put a lot of my HSA into investments and the market tanked.
- atatatat 5y ago> I don’t want certain savings, such as a new car, to be at the mercy of the market. New and used car prices are like a jump rope this year, regardless...can't hide from the market in cash.
- wil421 5y agoDepends on the make and model. BMW and Mercedes didn’t fluctuate in the 6 months we looked at them. I can’t have a down payment plunge because Yellen made an announcement or (as I saw last year) a roller coaster of an election year.
- krono 5y agoThere's an important difference between simply storing funds with a bank, and using the convenience services that a bank provides when you are their customer.