Savings are for emergencies and near-term needs. Investments are about making your money work for you, and patiently increasing your wealth over time with investments that grow above the rate of inflation.
It helps to keep your “investment” deposits in separate accounts from your “savings” deposits.
Investments should be split between stocks, cash / deposits / t-bills, gold and long-dated US treasury bonds.
This idea was discussed in more depth with members of my private investing community,OfWealth 3D Stock Investor.
Young adults don’t have the patience for the poor customer service provided by traditional banks. If my niece is to be believed, they’re swarming towards the so-called “challenger banks”. She probably should be believed.