a greater focus on investing as a means of growing wealth, but you
should still be diverting some of your disposable income into an
account that pays
Many people don’t realize that there are benefits to maintaining and
growing a savings account alongside an investment or retirement
account. Here are a few ways that keeping a separate savings account
will benefit you.
savings account that pays out a high rate of interest is a great way
to grow your wealth safely. While your money will earn less than it
would in a high risk/high growth investment portfolio, there’s no
risk of loss in a savings account. This means you can earn interest
safely over a longer period of time.
Your Money Accessible
primary reason to maintain a savings account is to keep your money
accessible for an emergency. When your home’s water heater breaks or
your car is totaled in an accident, you won’t want to withdraw from
your retirement investment account. Instead, you can withdraw from
your savings without having to worry about paying extra taxes and
you have a percentage of your income deposited directly into an
account that bears high-yield savings rates, you won’t miss that
money. You’ll be forced to stick to your budget with the money that
goes into your checking account, which will be deposited after
contributions to your retirement and savings accounts have been made.
This makes it easier for most people to save.
can learn more about saving with the Tellus
you visit their website https://www.tellusapp.com/.