#5 Savings account
Image Source: Howard Lake
This investment is probably most familiar to the greatest number of people. In many cases, this is the first investment many people ever make, and oftentimes it is done very early in life. Money that is given to a child as a gift from a relative is often placed in a savings account and it is often the destination for the money someone earns from their first job. Savings accounts make for an extremely safe investment, but the downside is that they pay based on an interest rate that is extremely low. Savings accounts are a great place to keep your money if you are simply concerned with savings what you make and are not looking to see a good return on your money.
