Successful saving depends on balancing these several factors as you develop your saving plan. Stocks offer a higher return but are also riskier and less accessible. They also offer many of the services offered by banks such as savings, CDs, money market deposit accounts, IRAs, loans and trust services. They may offer a wide range of financial services, including saving and investment plans. Some are insured, others are not.
Fees also differ.
You get more back than you put in, in return for the institution's use of your money. You will want to know how much your interest is and how it is calculated to determine how quickly your investment will grow. W hether you are saving with your local bank or another institution, it is important to determine the return, liquidity and security of your investment. It is an easy way to start a saving program because of low opening deposit requirements. There may be limitations on the number of withdrawals.