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Is it OK to leave $100,000 in a high-interest savings account?
- Source :
- MoneySense; 11/16/2023, p1-1, 1p, 2 Charts
- Publication Year :
- 2023
-
Abstract
- The article discusses the question of whether it is safe to leave $100,000 in a high-interest savings account. The author acknowledges that there is no completely risk-free option, as even a high-interest savings account can lose its purchasing power due to inflation. They provide historical data on the returns of investments and 30-day Canadian Treasury bills, showing that the promo rate on the high-interest savings account is slightly higher than the current T-Bill yield. The author explains that while savings accounts have their own risks, such as not keeping pace with inflation, they can be a suitable option in certain situations. Ultimately, the decision between saving and investing depends on individual circumstances and goals. [Extracted from the article]
Details
- Language :
- English
- ISSN :
- 14881349
- Database :
- Complementary Index
- Journal :
- MoneySense
- Publication Type :
- Periodical
- Accession number :
- 173646752