Updated: Oct 15, 2020
I just saw an article with that title above, and quite frankly... it's wrong. And I'll prove it. Here's the original link:
Myth 1. Saving is investing.
While it's important to put money aside in a low, fixed interest rate savings or money market account for emergencies and unexpected expenses, saving money isn't the same as investing. Investing is using your money to potentially create more money over time. There's risk involved with investing, but there's also risk in not investing. If your money doesn’t grow, you may risk not achieving your long-term goals.
This example shows how an investment of $550 a month earning 7% could produce nearly $600,000 more than a savings account earning 3% over the same time period.
This example clearly shows that the person writing this article knows how to use a financial calculator.
Please show me ANY investment that has earned a 7% actual rate of return AFTER investment costs for 30+ years with NO downside market volatility?