Burning Up Your Money
Your money is not worth as much in the future because of inflation.
If the average inflation rate for the past 17 years were about 2.56%, and you had $100 in a savings account in 2004 at a .01% interest rate, this is how much your money was worth in 2021:
$65.18
If you don't invest your money at a higher rate than inflation, it will lose value.
In 2021 the inflation rate jumped to 6.8%. This makes savings and investing extremely difficult.
The main cause of inflation is TOO MUCH MONEY put out by a government.
$65.18
If you don't invest your money at a higher rate than inflation, it will lose value.
In 2021 the inflation rate jumped to 6.8%. This makes savings and investing extremely difficult.
The main cause of inflation is TOO MUCH MONEY put out by a government.