Are Savings Accounts Worth It

Right now, the US Federal Reserve is doing its best to fight the rising cost of living. As a result, banks have hiked interest rates to encourage consumers to deposit cash. With this in mind, are savings accounts worth it in 2023? 

According to recent reports from Bloomberg, many financial institutions have increased their interest rates to nearly 4% on savings accounts. 

This is a far cry from the old rates which could easily be rounded down to zero… 

But before you are tempted to save your way to wealth, let’s look at how these accounts actually work. Then, you can decide for yourself if they are worth it — in 2023 or any other time… 

The TRUTH About Savings Accounts

Regardless of government mandates or higher interest rates, there will always be a problem with saving money… 


The truth of the matter is that inflation isn’t going to stop anytime soon. Any capital you store in a bank just won’t be as valuable when you withdraw it in your golden years. 

This is a difficult reality that many seniors face when they retire…. 

They worked hard their whole lives… 

They were disciplined with their money…

And in the end, it’s not enough to take care of them and their families. 

From this, you can conclude that savings are NOT worth it and don’t use them…. 


There is a way that you can take advantage of the opportunity the increased rates present… 

How to Make Your Savings Accounts Worth It

I know what you’re thinking… 


I stand by that. 

But there is something you can do, and it’s what the 1% do… 


So, put your money in the bank — for now. Then, take advantage of the improved interests until you have enough to invest it in a cash-flowing asset. 

Ultimately, that is how you make savings accounts worth it — by NOT saving forever. 

Be Great and Don’t Let Your Cash Depreciate,

Grant Cardone  

Disclaimer: This content is intended to be used for educational and informational purposes only. Individual results may vary. You should perform your own due diligence and seek the advice from a professional to verify any information on our website or materials that you are relying upon if you choose to make an investment or business decision. Investment, real estate, and business involve great risk and there is no guarantee of performance or results.We are not attorneys, investment advisers, accountants, tax professionals or financial advisers and any of the content presented should not be taken as professional advice. We recommend seeking the advice of a financial professional before you invest, and we accept no liability whatsoever for any loss or damage you may incur.

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Star of Discovery Channel’s “Undercover Billionaire,” Grant Cardone owns and operates seven privately held companies and a private equity real estate firm, Cardone Capital, with a multifamily portfolio of assets under management valued at over $4 billion. He is the Top Crowdfunder in the world, raising over $900 million in equity via social media. Known internationally as the leading expert on sales, marketing, and scaling businesses, Cardone is a New York Times bestselling author of 11 business books, including “The 10X Rule,” which led to Cardone establishing the 10X Global Movement and the 10X Growth Conference, now the largest business and entrepreneur conference in the world. The online business and sales educational platform he created, Cardone University, serves over 411,000 individuals and Forbes 100 corporate clients throughout the world. Voted the top Marketing Influencer to watch by Forbes, Cardone uses his massive 15 million plus following to give back via his Grant Cardone Foundation, a non-profit organization dedicated to mentoring underserved, at-risk adolescents in financial literacy, especially those without father figures.