My uncle told me to put $5000 into a high-yield savings account instead of the stock market last year.

He said the market was too uncertain and to keep the cash safe. I listened, and now I'm earning 4.5% APY while my friend who invested the same amount is down about 8%. Was my uncle's advice just lucky timing, or is this a solid move for everyone right now?

3 comments

3 Comments

beth7191mo ago

Honestly, your uncle nailed it this time. My cousin did the same thing with his house fund and is actually making money instead of watching it vanish. Meanwhile, my brokerage account looks like it got hit by a truck. It was probably some lucky timing, but right now, getting a guaranteed 4.5% feels like winning the lottery compared to the alternative.

logansullivan1mo ago

Remember my buddy who kept bragging about his crypto gains last year. Dude just told me he's moving everything into a high yield savings account. Sometimes boring and safe is the smartest move you can make.

sullivan.john26d ago

My buddy Kevin did the exact same thing last month man. He was all in on some random alt coin and lost like 40% in one week. Now he's got 60k sitting in a 4.75% savings account just collecting interest every month. He told me he actually made more in interest last quarter than he did trading stocks for six months straight. Crazy how boring can beat flashy in this market lol.