MONEY & MARKETS • RETIREMENT & SAVINGS
The Fed held rates at 3.75% to 4.00% on Wednesday. Your bank heard the news… and kept paying you next to nothing. The average savings account in America earns 0.38%—roughly one-tenth of the rate the Fed charges banks to borrow overnight. Put another way: you park $50,000 in savings, your bank hands you $190 at the end of the year. Inflation, running at 3.7%, takes $1,850 in purchasing power. Your reward for saving: you’re $1,660 poorer than when you started.
Where should you invest $100 right now?
Elon Musk just invented and patented this new AI technology…
And he's predicting it will launch a NEW industry that will grow more than 7 million percent in the coming years.
Even if he's only 10% right, that would still be enough to grow $100 into more than $700,000.
For every dollar of interest your savings account earns you this year, inflation takes ten.
