Thanks for the explanation. Would it be okay to try this out (the company I'm talking about is reputable they're not shady) with a little bit of money to compare it to my bank's savings account?
As with all investing of any kind, any money you put in always has a risk of being lost. That being said, the value going up and down isn't so bad over a long term as long as capitalism's endless growth paradigm exists.
Personally, I've split half of my savings between my company's Stocks & Shares ISA and a Cash savings account just for the added stability. In the UK, savings accounts are insured up to £75,000 with the company backing the funds but that might not be the same in other countries which might make your decision on who and how you save different to mine.
(Also, I'm the app developer so any financial stuff here isn't advice and also is only knowledge I've picked up from the wider company and mandatory training).
Thanks for the explanation. Would it be okay to try this out (the company I'm talking about is reputable they're not shady) with a little bit of money to compare it to my bank's savings account?
As with all investing of any kind, any money you put in always has a risk of being lost. That being said, the value going up and down isn't so bad over a long term as long as capitalism's endless growth paradigm exists.
Personally, I've split half of my savings between my company's Stocks & Shares ISA and a Cash savings account just for the added stability. In the UK, savings accounts are insured up to £75,000 with the company backing the funds but that might not be the same in other countries which might make your decision on who and how you save different to mine.
(Also, I'm the app developer so any financial stuff here isn't advice and also is only knowledge I've picked up from the wider company and mandatory training).