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Invest Your Cash Like a PRO | Morris Invest
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If you’re parking your money in a traditional savings account, this is a horrible strategy. Let me explain. According to Bankrate’s recent survey, the national average yield for savings accounts is .61 percent APY. Many banks are offering rates as low as 0.1%... which is basically ZERO!
In fact, storing money in a traditional savings account actually costs you money. Here’s why: the annual inflation rate in the US was 3.4% in 2023. This means your dollars are losing their value every day. That interest rate isn’t keeping up with inflation at all.
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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.
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