Not necessarily. By that logic you could say that getting into a vehicle to drive or ride anywhere is gambling every time, and therefore it makes you a gambler.
Also, being way too conservative with your money can be very risky too. Your money could lose value to inflation, or a retiree could run out of money too soon if inventing too conservatively, or not investing at all.
Prime,
There are good, legit, internet banks out there that offer CDs with up to 3.50% APY right now, and savings accounts with up to 2.39% APY.
Rates haven't been this good in over a decade. If you have a good chunk of money you won't need for a while, and you don't want a guaranteed 2% to 3% loss due to inflation, these are good low risk options.
Our best CD Rates available for December 2018 (5-year term):
Updated December 28, 2018
PenFed Credit Union: 3.50% APY - $1,000 Minimum Deposit with Education Certificate options
Citizens Access: 3.15% APY - $5,000 Minimum Deposit with No Monthly Fees
Capital One 360: 3.10% APY - No Minimum Deposit with option to open multiple accounts at once
American Express National Bank: 3.10% APY - No Minimum Deposit with 10 day period for adding funds
Goldman Sachs Bank USA: 3.10% APY - $500 Minimum Deposit with wide range of CD terms
Synchrony Bank: 3.10% APY - $2,000 Minimum Deposit with loyalty benefits
Ally Bank: 3.10% APY - $25,000 Minimum Deposit with automatic renewal at maturity
https://www.bankrate.com/cd.aspx
Here are the best online savings accounts from Bankrate:
As of Friday, December 28, 2018
CIBC Bank USA: 2.39% APY - $1 Minimum Balance for APY. No Maintenance Fees.
CIT Bank: 2.25% APY - $100 Monthly Deposit or $25,000 Minimum Balance for APY. Initial Withdrawal Options.
Citizens Access: 2.25% APY - $5,000 Minimum Balance for APY. Mobile Fund Transfer Features.
Synchrony Bank: 2.20% APY - No Minimum Balance for APY. Great 24/7 Customer Support.
Barclays Bank: 2.20% APY - No Minimum Balance for APY. Low non-sufficient funds fee.
Live Oak Bank: 2.10% APY - No Minimum Balance for APY. Easy online sign-up.
American Express National Bank: 2.10% APY - $1 Minimum Balance for APY. Low Minimum Balance requirement.
E*TRADE Bank: 2.10% APY - $1 Minimum Balance for APY. Unlimited ATM Fee Refunds.
Marcus by Goldman Sachs: 2.05% APY - $1 Minimum Balance for APY. No Transaction Fees.
Ally Bank: 2.00% APY - No Minimum Balance for APY. Interest compounded daily.
Discover Bank: 2.00% APY - $0 Minimum Balance for APY. First-time bonus between $150-$200.
https://www.bankrate.com/banking/savings/rates/
You are right, there are very few sure things in life as in death and taxes. I was thinking about financial investments only. Not routine things like driving a car. You advice regarding CD's is sound. In fact, some of my investment came from money I moved out of a CD.
Although it's not a sure thing, my retirement income is sound. Most of it is from guaranteed annuities with annual cost of living increases. Increases in SSI are minimal. The money I have in savings grows overtime because I add to it using excess income. Starting at age 70 1/2 as per the law, I've been taking the minimum required annual withdrawals from a couple of IRA accounts.
Before reaching my 40's I wasn't at all conservative. Both my wife and I quickly spent our various inheritances. Had we socked that money away, I'd be rich today.
