LogFAQs > #956777623

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Topic	How much money do you have?
Pitlord_Special 08/04/21 5:14:40 PM #39:	bigblu89 posted... That is seriously depressing. its also rather misleading because savings accounts havent been worth using for a long time (since around 2008). The federal reserve interest rates have basically been close to 0 since then so even the best savings accounts today pay like 0.5% so any significant amount of money is better off in a brokerage or retirement account invested in stonks or crypto. For example, my only savings account has only 2k in it (opened it in 2005) but I never bother putting anything in or taking it out (basically an emergency fund reserved for a bad enough situation that I would have to tap into it) --- Posted from my iPhone 8 <cite>Pitlord_Special posted [p:956777623] in How much m... [t:79598551]...</cite> <quote>bigblu89 posted... </cite> <quote>That is seriously depressing.</quote> its also rather misleading because savings accounts havent been worth using for a long time (since around 2008). The federal reserve interest rates have basically been close to 0 since then so even the best savings accounts today pay like 0.5% so any significant amount of money is better off in a brokerage or retirement account invested in stonks or crypto. For example, my only savings account has only 2k in it (opened it in 2005) but I never bother putting anything in or taking it out (basically an emergency fund reserved for a bad enough situation that I would have to tap into it) --- Posted from my iPhone 8</quote> ... Copied to Clipboard!
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