Entertainment

David Adefeso tells fans their savings accounts are a bad investment and offers more financial advice



David Adefeso just told his fans and followers that their savings account is a bad investment. Check out what he has to say.

‘Your savings account is a terrible place to keep your long-term investments due to the silent “asset killer” known as Inflation. SIDE NOTE: When I shot this video a few months ago, annual inflation was at 5%, but has increased to 7% today. With current savings accounts with an average yield of 0.06%; This means that your savings account is trending to lose you -6.94% this year in real dollars….all while you sleep,” David said.

He continued and said: “It is the opposite of what I call “Sleep Money” because you lose, not gain, money while you sleep. Click the link in my bio to see the full episode and to learn more #wealthdemystified #savings #financetips. ‘

Someone said: ‘Thanks for the great advice. I agree that the savings account pays little or no interest. As for me, I kept the money in my savings account so I could buy a property and hope to get a better return of 0.06%. ‘

One follower posted this: ‘Thanks for the advice and facts too. But I’ve also had heavy losses investing in mutual fund stocks. So what alternative would give me a yield slightly above inflation, David? ‘

One commenter said: ‘The 529 Education Savings Plan is a great, more productive, tax efficient alternative to savings accounts when it comes to saving for education costs. sex.’

One fan posted this: ‘Thanks for all the tips!’

In other news, David Adefeso shows fans his three sisters, and people just can’t get enough of his family. Check out the photo he dropped on social media below.

‘My 3 sisters. Guess which one is the oldest and which one is the youngest? Ronnie runs a thriving catering business and also manages her husband, BobbyO, a large medical facility in Dallas FW. Abby is a medical doctor. Family medicine cabinet. She also produces clean herbal products that enrich our beautiful melanin pigmented African skin. And then there’s Mo. She has a PhD; so I think we should call Dr. Mo. We call her The Beast instead! She is changing the African education system one by one; she advises governors and Presidents on policy, and has “hanged out” with the Queen of England (I have heard it more than once!” David began his message.

Check out the rest of his messages on social media.





Source link

news7f

News7F: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button