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Opening a savings account is a great first step toward better financial health. We can show you the different savings plans and how you could make the most of it.
Responses: 2
I am shocked at how many clients that I have that do not have a savings account! I usually set opening one as a goal and once their housing stabilizes we set up a plan to put money in it!
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A1C Medrick "Rick" DeVaney
From Web Information. ~ nchstats.com/average-american-savings-account ~
"1 day ago · Average savings account balance by age. Savings account balances tend to increase with age, as older Americans generally have more accumulated wealth than younger individuals. According to Federal Reserve data, individuals between 45 and 54 years old have, on average, $50,590 more in savings compared to those under 35.
`````` ~~ I've NEVER Put That Much Into A Savings Account ~ A Savings Account Only Draws About 5% Interest, While The Cost Of Living Exceed That Amount ~~ ~~
And You Must Pay Income Tax On The Lousy 5% Interest. ~ Ya Get Nailed TWICE...
~~ #1.. Lose On Paying The Income Tax, And~~ #2.. Lose Again As The Money Depreciates In Value. We're Far Better Off With Investing The Funds If You Have An Ample Supply Of Monies Of Over $5,000- $6,000,
But Some Must Be Available For Unseen Expenses Or Emergences.
"1 day ago · Average savings account balance by age. Savings account balances tend to increase with age, as older Americans generally have more accumulated wealth than younger individuals. According to Federal Reserve data, individuals between 45 and 54 years old have, on average, $50,590 more in savings compared to those under 35.
`````` ~~ I've NEVER Put That Much Into A Savings Account ~ A Savings Account Only Draws About 5% Interest, While The Cost Of Living Exceed That Amount ~~ ~~
And You Must Pay Income Tax On The Lousy 5% Interest. ~ Ya Get Nailed TWICE...
~~ #1.. Lose On Paying The Income Tax, And~~ #2.. Lose Again As The Money Depreciates In Value. We're Far Better Off With Investing The Funds If You Have An Ample Supply Of Monies Of Over $5,000- $6,000,
But Some Must Be Available For Unseen Expenses Or Emergences.
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Me personally, I stayed out of stocks and such. I invested in land. It is solid, there and only so much of it. It has been a good investment and always will be. I also invested in gold and silver. These two are something which has lasted time. Gold and silver are always a good investment. They are not zeros and ones. These investments are much safer than stocks and such. Just look at the market crashes we have had, lots of people lost everything. With gold, silver, land they are solid, something which does not disappear.
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