How do you save your damn money from inflation?
Oct 22, 2024 | by cs | Here's a brief description of inflation "inflation is why all sorts of idiots miss 2005", but how do you save your belongings from inflation? That's what this mini article is about
Here's a brief description of inflation "inflation is why all sorts of idiots miss 2005", but how do you save your belongings from inflation? That's what this mini article is about
The first thing you think about is putting money in the bank, is that a good option? If you don't have a lot of money, like a few thousand dollars, then yes, you can put money in the bank at interest "but understand if you live in Argentina or any other country with a damn weak currency, this option is terrible, just skip it", but what if you have a large amount of money like a few tens of thousands of bucks? It's dangerous to put it in the bank, I'm sure you realize that. But if not a bank, what are the options? Stock market, cryptocurrency, real estate. Cryptocurrency immediately discard, it is very unstable, more interesting option is real estate, the first disadvantage is of course the price, for thousands of $30,000 you will definitely not buy anything, but suppose you have thousands of $200,000, how to choose an object, in this will not understand, but if you choose this option you need to understand what to do with the object after the purchase, such as rent, resell or for example insured and then burn. If you are interested in real estate, you are probably a smart billionaire who will figure it all out himself, so let's talk about the stock market, here everything is more or less stable (except for NVIDA stock of course), buy stocks of those companies whose products you use, for example, if you ride on tesla, buy tesla stock and wait for the profits
To summarize: the best option for saving money is the stock market, because of stability, now stability is very important, unfortunately cryptocurrency is not stable now, but in the near future this will change