Re: COVID has driven Americans to bank $1.6 TRILLION in savings
If people are still keeping their assets in fiat, despite the fact that the federal reserve is printing banknotes like crazy, then they are purely delusional. In my country, the rates for bank deposits have now slipped below the inflation rate. And although stock markets gave good returns for 2021, I don't expect the situation to remain the same for the next few years. One important factor that is keeping retail inflation in check is that crude oil prices are staying below $80 per barrel. If this level is breached, then we'll be in trouble.
Do you know this word - diversification?
So - a financial pillow is not a bundle of dollars. This is, for example, a "basket consisting" of a bundle of dollars
a bundle of euros, several (as you know, not very large) bars of gold / platinum, it can be jewelry (although I don't really like this option), now cryptocurrency has also been added. Although it can be real estate bought in a stable country, the rent of which will give you passive income. In this case, the fall of one, as a rule, does not lead to the fall of other assets, which means that in total you lose the minimum. Just be smart about building your portfolio.