Do you have a savings account?
What's your opinion on that?
I'm interested in answers from a variety of backgrounds.
I'm interested in answers from a variety of backgrounds.
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JoyfulSilence · 51-55, M
Yes.
But the interest is peanuts. No different than storing it under the mattress.
I have a CD, though. That is much, much better. Of course then the bank lends it out (along with everybody's cash) with much higher interest!
But the best is my 401k. Stocks have soared the past few years. I still have to pay taxes on it all, though, when I retire. But had I instead put it in the bank I would have already had to pay taxes on it.
But the interest is peanuts. No different than storing it under the mattress.
I have a CD, though. That is much, much better. Of course then the bank lends it out (along with everybody's cash) with much higher interest!
But the best is my 401k. Stocks have soared the past few years. I still have to pay taxes on it all, though, when I retire. But had I instead put it in the bank I would have already had to pay taxes on it.