So I have been saving up for a while, from college to now maybe $20k, and I keep it in a bank and get like no interest but I can withdraw my money anytime I want.
Due to using the money to pay for my credit card per month and getting my workplace to transfer my the money there I can’t deal with savings accounts that require me to deposit a huge amount and not expect it to go up or down. I would say I can save up to 24k slowly but also quickly go back to 19-20k. (Health and vet)
I heard about a different type of savings (not Roth IRA) but similar, you put like say 20k and get interest on it so you end up with like 20k+400. Downside is I can’t withdraw my money for a year??
I’m not sure which banks have this program and how much I can invest or should invest, I feel like I’m 5.
In: Mathematics
Neither. Rolling ladder T-Bills. Higher interest paid, less taxes than banks and CDs.
Money in a bank is losing purchasing power to inflation.
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