10,000K Worth nothing? Economy messed upp?

Question

im 19M and i been workin since i was 15 and i been savin 75% of what i make from my job and bank it i currently have 10,000 thousand in my savings account.... my friend said that if i dont spend it now its going to be worth nothing in a year since the economy is messed up is that true!?!!!!!

Answer 1

No but money loses purchasing power due to inflation, Usually bank interest rates are enough to compensate savers for the loss but right now interest rates are very low, so you will probably have a net loss of  one percent or so. over the next year.