Explain why a savings account is not a good option for long-term wealth building.

Answers

Answer 1

Answer:

While you can grow your money daily and take on zero risk with high-yield savings, they are not the best way to grow your wealth long-term. The rate of inflation can be higher than the yield you earn over time, so it's better to not keep piling cash into your savings and instead invest your money.

Explanation:

Answer 2
A savings account is not a good option for long-term wealth building because if your money is in a traditional savings account, you're probably earning less than inflation, which is how the price of everyday goods increases steadily over time.

Related Questions

What are some good, unblocked sites for a school computer?

Answers

Answer: There are a lot. You should look it up!

Explanation:

Schools have different things blocked on computers for different schools, for example one school could have this sit and another school could have it blocked! I suggest going on Pinterest and searching for websites that are unblocked and try to see if they are blocked! Hope this helped!!
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