Kevin, 27 year old.
This email message was received last May 27, 2015. It is now the time to publish this question and answer related to personal finance, this time, questions about saving money.
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What is the Highest Interest Savings Account
InvestmentTotal.com Response: We replied via email to Kevin with the same advice in this article. So, how can we really save and earn higher interest? Is it possible to save money in your bank account that can earn high interest per year?
There are banks that can offer high interest, but those banks are very rare. Try to search the biggest bank in your country, say for example in USA, try to ask the leading banks in USA or just search their current savings account interest rate.
If you are looking for a way to earn high interest with your money, do not save your money, instead invest it. In savings account, you can only earn 1% or lower than that. 1% in fact, can’t even beat inflation. Instead of saving, why not invest in the stock market.
High Interest Earned, High Risks
In the stock market, your money can earn 12% or higher than that. But, when you invest, make sure define first your goal why you are investing anyway. What is the reason why you are investing. If you are afraid to invest in the stock market, you can invest in mutual funds, bonds, or treasuries.
The important is you will not just beat inflation, but, you have to earn higher interest than inflation. If I were you, stop finding for savings account that can earn high interest, instead start learning how to start investing in the stock market, business, real estate, forex, etc.
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