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So 10 years from now, will my cash reserves still be the exact amount as it is now if I weren't to make any changes? I want my cash to grow as I am only 36.
So 10 years from now, will my cash reserves still be the exact amount as it is now if I weren't to make any changes? I want my cash to grow as I am only 36.
Usually the cash is stored in some sort of money market savings, so it will earn a little bit of interest. But you won't lose anything unless the custodian gets into financial troubles and possibly bankruptcy.
So 10 years from now, will my cash reserves still be the exact amount as it is now if I weren't to make any changes? I want my cash to grow as I am only 36.
Is your long-term money invested in cash? In so, in 10 years you will have less than you have today, adjusting for inflation.
Long-term money should be invested in a nice mix of stocks and bonds.
I have about $20k invested in stocks, but sure will be a pain in the ass to keep buying/selling over that period.
Why would it be a pain? I suggest you buy a few broadly diversified funds with low costs and just buy and hold. Total market indexes are my preference.
Is your long-term money invested in cash? In so, in 10 years you will have less than you have today, adjusting for inflation.
Long-term money should be invested in a nice mix of stocks and bonds.
^^^^This. People sometimes make the mistake of thinking of cash as safe, when in fact it is virtually guaranteed to go down in purchasing power, because the interest you are earning does not keep pace with inflation.
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