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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?
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beth7194d 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.
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logansullivan4d 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.
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