Quote:
Originally Posted by rsmurano
If you have your money in a savings account you have been losing money your whole life. To make money, you have to invest it. No cd/savings account interest rate will make you money compared to investing it in the market, never had, never will. Last year, I averaged over 35% gain in my portfolio, why would I think of putting my money in a cd that gets 2% or less?
But now isn’t the time to jump all into the market either IMO.
IMO, learning finances at an early age in life is critical so you have enough money in your later years to not have to worry about these inflation periods. If you don’t know how to invest, hire a good person to do it for you but you need to learn what they are doing and why so you can do it yourself in the long run.
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Very true lots of good books to be had in the library (or should be in the library) to teach the fundamentals of investing. Or spend a few bucks on Amazon to buy a couple of books.
A good personal finance magazine like Kiplingers is also a good idea