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Why does nobody talk about the cost of holding cash?
I had a buddy who kept $50k in a checking account for years because he was scared of the market. He missed out on around $12k in interest just last year alone. Do you think the safety of cash is worth the loss, or are we overthinking the risk?
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wendy62827d ago
Keep it in a high yield savings account at least dude. That's just leaving free money on the table when rates are this good. Sleep well AND earn something, easy fix.
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ryantorres27d ago
Your buddy missed out on 12 grand, that's real money. But is "safety" really just another word for "I don't want to deal with the hassle"? I mean, who's actually tracking the real cost of just letting your money sit there while prices go up every year? The quiet tax nobody wants to talk about.
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anthony_campbell8827d ago
Man that's a lot of money sure @ryantorres but 12 grand over how many years though? Inflation's real but it's not like we're talking about losing your shirt here. Feels like people just need an excuse to beat themselves up over normal stuff.
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