The stock market may be a better way to build wealth than savings accounts
VTI Vanguard Morningstar Total Stock Market ETF
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View chart & analysis → - 1As of September 21, the national average savings account interest rate of 0.37% is insufficient to keep up with inflation.
- 2The S&P 500 index has recorded an average annual return of 10% over the past 98 years.
- 3At a 10% annual return, it takes 7.2 years for asset value to double.
So what's the key point?
As of September 21, the national average savings account interest rate of 0.37% is insufficient to keep up with inflation.
Source The Motley Fool +1 · View original ↗
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