2 ms·
I think we’ve finally hit the point where compound interest on savings is outpacing inflation (at least in the US). Savings accounts at 5%+ interest are now wid
by sgerenser 3y ago
I think we’ve finally hit the point where compound interest on savings is outpacing inflation (at least in the US). Savings accounts at 5%+ interest are now widely available as long as you avoid the big banks like Chase and BofA. Meanwhile inflation is still elevated, but at least its well below 5%.
OTOH, the prior 10+ years even when inflation wasn’t very high, 1% or so interest rates meant savers were falling farther and farther behind.
- nonethewiser 3y agoThat’s an interesting point and might end up being true. But inflation vs. savings rates over the past 2 years dwarf that benefit.