Don't let attractive yields on cash lull you into staying on the sidelines. Over the long term, stocks are the way to grow wealth, according to Bank of America. Some $5.43 trillion is in money market funds, as of the week ending June 21 , according to the Investment Company Institute. Retail investors account for $1.99 trillion of that sum. Who could blame them? The Crane 100 Money Fund index has an annualized seven-day current yield of 4.93% as of June 26.
1% for government bonds and 3.8% for cash. Meanwhile, inflation averaged at 3.7% annually during that period. "That's another way of saying that the S & P 500 is one of the world's best wealth-generating machines ever constructed," she added. Further, financial crises tend to be followed by economic and earnings growth cycles, along with sustained price gains for stocks.
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