/biz/ - Business & Finance

Banks have been telling you that there is no safer alternative. Banks will give you measly returns, not even 1% a year in most cases.

They then use your capital to make riskier investments to make money for themselves.

Don't listen to the people telling you to dump your money into savings accounts or just 401ks. Be smart with your money. You have decades to work off of, don't be complacent.

Of course, we're on /smg/ so I assume that most people here are somewhat concerned about their well beings and their financial futures.

But remember, for every /smg/ member present, there are millions of complacent sheep putting every paycheck into their Bank of America savings account and being happy about 1% returns per year.

Anybody can spend 3 hours studying the basics of the stock market and decide to money into things like VTI or DIA, or even things like selling covered calls on safe blue chip stocks like Microsoft - but for most people even that is too risky.

Stay thirsty, but stay alert. The banks are always out to get us.

Nothing makes sense.