Should I save my money in a high yield savings account or should I invest it?

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Should I save my money in a high yield savings account of should I invest it

A SIMPLE money strategy that you should be implementing to create passive income…

Because this is financial literacy month, and I hear too many horror stories about what people do with their money AND I’m all about empowering ya’ll with your finances…!!!

A client of mine told me how she saved up a good chunk of money, like 60k, and she was keeping it in a high yield savings account…

For those of you who don’t know what a high yield savings account is, basically it’s a savings account that earns more than a typical savings account, usually like 2% in interest. #savingmoney is good, but 2% !!!😱

When I heard this, I immediately cringed and was scared to ask her how long she had been saving it this way… She said, “It’s always been in there…” #ohnonono

I pulled out my phone, showed her a chart of the S&P500 (representation of 500 US businesses) performance in the stock market over the last 10 years. I Showed her how much she’s lost by sitting on the sidelines and her jaw dropped. #moneytalks

I showed her a few index funds that were low fee and followed the S&P. #womenempowerment #investmenttips

I showed her how to set up her own brokerage account and set up automatic savings. #payyourselffirst #takecontrolofyourmoney (You can check out our post about investing in index funds along with a video where I walk you through the steps to get started by clicking here!)

She created her own account, and she’s been investing in it for a few years and reports in telling me she feels so empowered and relieved that she has her money working for her! #passiveincome

This is possible for you, even if you only have a small amount to set aside a month… even if you don’t have time to trade… even if you are paying off debt.

I recently showed this to a 19 year old client, and he started his own account! This truly gets me excited because I know this financial knowledge is going to change his life!

Set up your life, business, and money flow to be EASY!

If you have been wanting to take back control of your money and shift your entire energy and mindset about money, reach out to me!

😘
Mandy Gatlin

As always, this information is for educational purposes only. Invest at your own risk.