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You are not supposed to keep it in the bank, unless you are keeping it in a high-yield account (NOT even a CD, an account you can still use), which will get you
by throw1234651234 3y ago
You are not supposed to keep it in the bank, unless you are keeping it in a high-yield account (NOT even a CD, an account you can still use), which will get you 4% on $25,000+ such as US Bank.
You could also have it in the market. Neither will dramatically beat inflation, but they will beat it.
The debatable part here is the merits of pretty much having to understand finance to not lose money all the time is a separate topic. I am in IT and always thought my finance/stats degrees were a complete joke, but it helps to have an intuitive understanding of this stuff not to get **ed by the basics.
- gjsman-1000 3y ago> which will get you 4% on $25,000+ such as US Bank Now it will. During the pandemic and earlier? Getting a 1% CD was tough. There was almost no insured way to protect yourself before it happened. My 4.15% high yield bank account was paying about 0.4% until last year. > You could also have it in the market. Neither will dramatically beat inflation, but they will beat it. Yay, invest myself to the stock market which, to me, reeks of overinvestment and too much money in it. Do you actually believe Apple is worth $3 trillion?
- throw1234651234 3y agoNo, but that's the game, right? Index funds or adjust for the times, e.g. dividend mining stocks for income and value preservation were undervalued at the time. That's the part I am talking about with there being standard strategies depending on the stage of the economy. It's almost a job on top of your job though, which is the issue I am calling out.
- maroonblazer 3y agoApple isn't the stock market. Take a look at historical long-term returns. On average the market is a good investment.