[–] 5409781? 0 points 2 points 2 points (+2|-0) ago (edited ago)
This is definitely one recurring question that I have. Is savings considered only putting money into a savings account? Because if that's the case, of course nobody has a savings account. There's lots of financial instruments that make way more sense to keep your money in.
My net worth is fairly high, but I have less than $1,000 in my savings account. Why? Because the returns from nearly any other investment or better than the 2% I can expect that the bank.
[–] SomewhatNeutral 0 points 2 points 2 points (+2|-0) ago
https://en.wikipedia.org/wiki/Inflation_tax