Why no one has savings accounts anymore! 😬📉

Putting your money into a savings account is a terrible way to make passive income. The bank might pay you around 0.01% on the money you save, which is very little when considering a good profit would require a large amount of money to be put in the savings account to begin with… 📉

Instead, buying shares of your bank gets you dividends, which have a higher percentage compared to a savings account. By buying shares you can make a lot more profit than you would by saving.

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#Shorts #Finance #Savings #Money #Bank

[lolstans]

Who’s gonna tell him that he is only making $1 a year and not $100

[Powerz]

I am currently holding north of $250, 000 in Cash in bank making me around 5.15% currently. I was advised to invest in the stock market as its good for passive income and high returns. but right now I need strategies to invest to secure my financial future

[alphjection]

"No because I have 50 million power in Rise Of Kingdoms."

[BevanBraselton]

I currently have around $250, 000 in cash savings and I was advised to invest it in stocks. What long-term strategies should I use for investments to secure my financial future?

[FloridianMenace]

Solution: make a loan at a bank for $1B, buy the bank, cancel the loan, sell drugs, profit

[dshe]

The value of shares can go down as well as up. You can end up losing the sum invested, whereas bank savings are protected.

[alexamazingg]

Moral of the story: instead of using a company own the company

[rolandoarz]

0.01% on 10k is 1 dollar a year, I am almost jealous

[foobird]

Meanwhile, Chase stock price drops 30%…

[gomuft]

Mom can I watch mark Tilbury?
“We have mark Tilbury at home”
Mark Tilbury at home:

[east-flag]

Moral: Don't be jealous and this wont happen to you :)

[cdakwlfgaang]

Companies dont pay dividend regularly to the investors, also dividend earning are taxed, all this BS around passive earning through dividends needs to be stopped.

[TIB]

$2K in savings isn't enough. Yes its not making much interest but $2K won't cover most emergencies that come up so you need more readily available in a quick access account.

[Edward_Williams]

Meh. For some at the moment, banks may be the better option for the short-term. Discover pays 2.35% for their savings account, and was offering a $150 bonus if you deposited $15, 000 or more in your saving saccount. Also, they offer 1% cash back on up to $3k in purchases (which you can choose to have deposited in your savings). You can get 3%+ returns easily if you are able to take full advantage of each benefit.

I would have -20% returns if I had my money still invested in the market.

[Derpuwolf]

I get %4.0 on my savings account so I’m sticking with that for now.

[bloxjw]

My whole country have saving accounts bro… 😂

[benyoutube]

High yield savings accounts currently give 4.25%-5% and are risk free unlike buying stocks for dividends

[Hatsoff]

I was waiting for “where did you learn this”

[TDOLLA]

yeah parking all your money on a single stock is….. bold.

get a fidelity cash management account and have your check deposited straight to it and get like 2.7% interest and then invest straight from that account. You can even get a debit card for it and set up bill pay. Not a huge fan of using banks and definitely not a fan of buying bank stocks, just not something I would personally want to hold especially with the high profile cases of banks committing fraud to raise their share price.

but if you are thinking about this kind of stuff your head is in the right place

[jamesbedukodjograham]

For the whole of 2022 Savings Account in Ghana only gave us 10 Percent per Annum Wow.