DH is money dumb
Ok, I have a huge dilema. DH doesn't understand about how the stock market, and therefore mutual funds, fluctuate over the short term but in the long run do quite well. So we have an excess of $10k sitting in a stupid savings account "earning" .9% while inflantion is, what, 2-3% at least, so in effect, we're losing money. Historically, mutual funds gained in the long term 12%. We are youngish (in our 30s) and have some long-term to save, and I'm trying to convince him that the savings account is killing us and we could do a lot better on a mutual fund, especially one with a lot of diversification (like one that invests in all publically-owned companies in US). We did lose a little money in our 401k (which was also a mutual fund) when everyone else lost too, but now we are investing in that again. But it kills me to think that while I'm sitting here, my money is losing value, when it could be working for us. Does anyone know of a good site that shows that, in the long term, mutual funds are way better than savings accounts (or money markets or CDs or bonds, for that matter)? I'd appreciate any help you can give. It seems that I have all the financial knowledge, but not the time to manage that stuff (I'm a veterinary student and simply don't have time). I suppose I could find time to set up an account, but since we share everything, I'd still have to convince him to do it. Any help? He won't listen to me since we lost some money (which has since recovered BTW).