this post was submitted on 09 Jul 2025
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Based on my recent meeting with someone from the retirement planning arm of my bank, high interest savings is ideal for an emergency fund. If you're keeping 10-20k sitting around it's just going to keep losing value in any traditional savings account. But having the rest in an IRA or RothIRA (US-specific tax advantaged retirement accounts. Basically one is taxed as money enters the other is taxed as money exits, and there's limitations to try to prevent abuse by the ultra-rich) can lead to significantly higher interest. He ran a report of "if we took your 401ks that we're rolling together and they just lived in this account over the last 30 years of markets here's what you'd have" and the answer was actually a lot more favorable than I expected.
IRAs are tied to stocks.
There’s no way to “avoid the stock market entirely” using this. Yes, you should balance how you want your tax burden to look in the future by deciding how you wish to invest in Roth or regular IRA. IRAs are also limited to how much you can contribute, whereas traditional stock investment does not.
I don’t want to get too deep in the weeds here for investing strategy. There’s pros, cons, and costs to each of these kinds of investment. People have to look at all of these, their personal capabilities, and risk tolerance. Personally, we’re (another key word here:) diversified across multiple investments and someone absolutely should take advantage of the same if they can.
I wasn't the one who said to avoid the stock market. I just got the feeling that your comment I was replying to was saying to just place money into a high interest savings account and wanted to throw an alternate opinion out there
Ah, sorry didn’t see the name change. No, that was never my intent. Diversification is a must.
No worries! Have a wonderful day!