If you think your money’s safe in the bank, think again! 💸
Rachel Richards, also known as “Money Honey Rachel”, a former financial adviser, is here to save you from making a humungous financial mistake.
Inflation is an insidious force that is slowly ERODING the purchasing power
of your dollars. 🔻
While it might not seem like a big deal to lose a few dollars each year,
over time these losses can build up.
According to Rachel, one of the worst places to put your money during times
of inflation is in a bank savings account or in cash.
While the interest may be nice, you're actually losing money by putting it
in that savings account because of inflation. 📉
There are better places for your money to earn some good interest without
risking loss of purchasing power. 👈
Take some of your savings out of long-term investments like mutual funds
and put that money into gold or other precious metals to PRESERVE its value
against inflation.
Type YES in the comments if you agree.
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