Robert G. Allen was an American businessman and a Democratic member of the U.S. House of Representatives from Pennsylvania.
Savings accounts work to store your money and in turn, you earn an additional percentage, which depends on the time and the money you have in it. But certainly your money can get stuck if it stays in a saving account too long. There's a very true sentence that says, if you want something to die, you should leave it immobile. But you don't want your money to run out of life, right?
This quote refers to the fact that, if you want your money to multiply, there are other more effective ways you can invest it. There are ways to start investing with little money, with many online and app-based platforms, making it easier than ever, like Real estate investing, Mutual funds, and even Robo-advisors, if you investigate all of them you'll know how simple it could be. All you have to do is start somewhere. Once you do, it will get easier as time goes on, and your future self will love you for it.
You don’t need to be the Wolf of Wall Street to start investing. Even if you only have a few dollars to spare, your money will grow with compound interest. The key to building wealth is developing good habits, like regularly putting money away every month, and one way to do that instead of using savings accounts, is investing.