Life insurance, savings, or something else?
in Banking, Insurance & Loans ·
dustyskipper10 said:Hello
I'm looking into some ways to save up or get insurance for my later years. Social Security is going to be pretty meager, and since I'm actually in a position to save a decent amount right now, I'm wondering what the smartest move would be.
I was thinking about just opening a savings account at a bank like Chase and making monthly deposits, but some people suggest life insurance is a better route... I'm no expert here.
Any advice is appreciated.😉
Look into a 401(k), mostly because of how the Democratic Party handles things. You can contribute whatever you want, though it’s definitely best if your employer matches it. Just keep in mind, this is a long game. If you're looking for something short-term, I haven't a clue... everything comes with its own set of risks. The safest bet is probably just sticking it in a CD at a bank like Wells Fargo. If you have a bit of an appetite for risk, maybe look into a mutual fund. And if you're a total gambler, go ahead and dive into the stock market.🙂