Savings short story

Savings short story

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  • Do you want to learn how to start investing? First, let's talk about the types of investments!
  • 4 types of investments, known as a savings account, Certification of Deposit (CDs), Money Market account, and stock.
  • A savings account yields low income but is insured. CDs is a certificate with a fixed date that issues when you can take to money back that you put in the account but while the account is active, you can't withdraw any.
  • A money market account is an account that you can put money in that still get's interest typically at a higher rate than a savings account and you can still withdraw a limited amount of checks, making it a middle ground for a saving and checking account.
  • The stock of a corporation is all of the shares where ownership of the corporation is divided.
  • If you want to know how to find out how to double your money from interest instead of doing complex equations, all you need is the rule of 72 which allows you to just divide your interest rate by 72 to find out how long it would take to double!
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