Why savings accounts suck #money #investing

If you're one of those people that are so in love with their savings account, you love

to check it every morning and every night and make sure that your money is always safe

anytime you want to access it, you're not thinking about that one problem that's called inflation

Inflation is that little thing that eats away at the value of your money silently as it

sits in your bank account. And I mean, if you're not aware of inflation in the last three years and the price that

even a McDonald's burger has gone up, then you probably don't even need to be watching

these videos because you're in the upper, upper class. In an average year, and we're not even talking about the last three years where inflation

went up by 9%, inflation has gone up by 2 to 3%, which means your purchasing power on

your money has gone down by the same percentage. If your money is sitting in your savings account where most of the time it earns a less than

1% interest rate, then it's not keeping up with the rate of inflation

The $100 that you left in your savings account will be able to buy less next year than it

is this year