| It should come as no surprise that in today’s economic situation most Americans would rather keep their savings in cash… But according to CNN Money this is a “big mistake.” The article entitled “Uh-oh: Americans favor cash over stocks for long-term investments,” says that “26% of Americans prefer cash” (in the bank) to investing in stocks for their nest egg money. According to the CNN Money article, people feel like with the state of the economy it is safer to keep their money “building” interest in the bank, which sounds reasonable actually. Yet, according to the article, because of the low interest rates, returns on your safely kept money will be minimal ten years down the line. Now risking your hard earned money on stocks that are always going up and down can seem a bit counterintuitive, but the risk can yield high rewards. The article focuses on the fact that investing in stocks with a probability of high yield will be a better way to prepare for retirement. The closer someone is to retirement the more someone should be investing in stocks (at least more than he or she had done before), this is so that even though he or she might not be working their money at least still is. To read more click on the link below: http://money.cnn.com/2013/07/29/investing/cash-investments/index.html
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