Why You Need To STOP SAVING MONEY
ฝัง
- เผยแพร่เมื่อ 15 ก.ย. 2024
- Saving money is not as great as you think it is.
In fact, it might be destroying your financial future.
Here's why.
Resources Mentioned
M1 Finance (free investing app) - www.roadmapmon...
CIT Bank High Yield Savings Account -- www.roadmapmon...
Monarch Money (50% OFF use code MINT50) - www.roadmapmon...
So often we think investing is “risky” while it’s actually the reason we succeed. Great stuff!
The risk must be taken to truly grow wealth!
You can start investing on top of your 401k after you have a 6 month emergency fund
The explanation of the matching funds is so powerful!
I'm all about getting that FREE MONEY!
The visual explanation is very helpful, thank you.
Glad it was helpful!
If you advocate for people to not save up cash they will then get a house they can't afford and lose all they would gain on that interest
Whats your view on treasury money market funds for short term reserves ?
Not a bad way to go, though not FDIC insured or truly risk-free (but risk of loss is basically 0.00001%). A decent way to get 5% interest, especially for cash sitting in your brokerage account. But for emergency fund savings, not liquid enough in my opinion.
@@roadmapmoney thanks for the feedback! Take care sir
I'm not 18 there aint much i can do but save money i guess i could theoretically buy gold or smt but its too risky with my current situation.
You'd need a custodial account setup by your parents to invest in. But gold, Bitcoin, and other alternative assets are risky and speculative...not the best long-term strategy for a majority of your money
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