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Is saving money in the bank for long-term really profitable ?
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[QUOTE="Jasz, post: 224294, member: 61772"] Saving money in a bank is one of the most common approaches many people take to secure their future. However, saving in banks for long-term may not be as profitable as you think. Research shows saving at a bank for more than 10 years results in earning an interest rate of about 3% which means that if you saved $100 for 10 years, it would grow to $134.10. That is, if you are lucky enough, inflation didn't affect your money . However, this is not the case with stocks; investing $100 in the stock market can result in earning an interest rate of 6% and make your money grow to $170.08 after 10 years. As you can see, there's a huge difference between the two approachs. In addition, stocks are also known by their high liquidity which means that you can easily access your money whenever you want without being charged any fees or taxes like withdrawing money from a bank account which has to be done according to certain rules and regulations and may take some time before you receive your money. All things considered, I think it's worth taking into consideration investing your money instead of keeping it at a bank account because it's more profitable and gives you more freedom when accessing your money . [/QUOTE]
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Is saving money in the bank for long-term really profitable ?
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