Myth: The Stock Market Is Unsafe
Truth: This is true, in part. Investing in the stock market comes with real risk, and there is a chance you could lose funds if that’s where you put your money. At the same time, if you’re saving over the long haul, the “safest” place to put your money isn’t necessarily in a bank account. Over the years, inflation has tended to average about 3%, meaning that your money loses that much of its value every year. If your savings account is providing you with a mere 1%, you’re actually losing money because you’re not keeping up with inflation.
Don't be intimidated by investing: The first step is getting familiar with how investing works, which you can do in the investing section of our Knowledge Center. There, you can find an Investing 101 primer, a checklist to guide you through setting up an investment account and more.