My observation: A lot of people no longer save money for long term in the banks.

[Ishicryptic]

Unlike in the past when a lot of people used to save their money in the bank for many years and be happy to be receiving meagre interests, more people have become financially intelligent and are rather investing their savings. It was only very educated people and very rich people that understood the gains of holding shares of companies, they grew richer as these companies were growing bigger while the financially unintelligent kept saving their money in the bank which depreciates due to inflation.

I believe that the turning point and eye opener for many was the creation of Bitcoin, a lot of people realized that saving their money in the bank for many years was not their best option, they realized that investing the money can hedge against inflation and give them returns on investment. Bitcoin was was the paradigm shift for many to wake up to the reality their money depreciates in value after many years. Word have gone round that money in the bank is no longer the ultimate for long term savings, they have better understanding about inflation and how their money can work for them. I know a lot of ordinary people who were not financially intelligent that are not only holding Bitcoin they are holding shares of many companies both local and international.

Do you also notice the shift that a lot of people are no longer saving for their retirements in the banks?

[Oshosondy]

Do you also notice the shift that a lot of people are no longer saving for their retirements in the banks?

From what I noticed, there are still many people saving money in the bank. You can noticed that with people that are older age.

Some countrys' inflation are very low also which encourage saving, but in other countries, there are people that still save money in the bank also.

The best are investing in bitcoin, stocks, gold snd other valuable assets.

[Oluwa-btc]

The shift should be in the younger generations, I think not all from the older generations have switched completely to this digitalised phase.

My grand auntie still believes bank's the best place to keep your money, the sound of hard currency sounds like a totally different thing in her ears. I could say the same with my old man, banks or nothing.

It is my opinion that this generation ( Gen Z ), are the major propellers of the digitalised phase. The older generations too are involved but there's a massive influx of users in this generation. That cashless situation in Nigeria fvckef with a whole lot of people which also moved them towards the use of Bitcoin and other Cyptocurrency.

[Callido]

Do you also notice the shift that a lot of people are no longer saving for their retirements in the banks?

Investment is good but you would mot say that people are not saving with the banks anymore. Am investment can either yield profits or loss and one should be able to accept that, so you would not entirely say that people are not saving in banks anymore. I might have a couple of investment but I would always have my savings because that is what would save me during emergencies and unexpected situations.

Both investment and savings are important, as they serve different purpose, none should be chosen over the other because they are almost of the same value.

[letteredhub]

Indeed, the turning point was the creation of bitcoin and since the inception of this innovation, a lot of people have literally turned their backs on the traditional method of saving money in the bank because it doesn't really yield the desires profits they would have hoped for, though a lot of people are still reluctant due to some irregularities or misconceptions that are being spread across board regarding Bitcoin and how people could be scammed for yheir ignorance, which is quite true to an extent.

But with proper learning and understanding about bitcoi,  in no distant time, many more people would come to fully embrace bitcoin investment as the conventional alternative investment rather than the traditional banking system that hasn't really added value to their customers funds.

[Antotena]

I believe that the turning point and eye opener for many was the creation of Bitcoin, a lot of people realized that saving their money in the bank for many years was not their best option, they realized that investing the money can hedge against inflation and give them returns on investment. Bitcoin was was the paradigm shift for many to wake up to the reality their money depreciates in value after many years. Word have gone round that money in the bank is no longer the ultimate for long term savings, they have better understanding about inflation and how their money can work for them. I know a lot of ordinary people who were not financially intelligent that are not only holding Bitcoin they are holding shares of many companies both local and international.

Do you also notice the shift that a lot of people are no longer saving for their retirements in the banks?

I have two things in mind, the firsts is economy transformation and the one I'm talking about doesn't mean the good one, it's a bad one. I will use my country as example. 10 years ago, people that had federal jobs were doing better with better pay check, after paying bills and miscellaneous, they have enough to save for raining days but now, the things they could afford those times are different today, what you could afford that time is now 5 to 6 times or more depending on what you are buying and the salaries are not too different. Even with the increment, it weren't more than 2 times of the original. So literally, you earn 2 times and price of things are 6 times expensive, the salaries they are savings are not possible again.

The second is investment, some people do keep their investment on banks  to lay low until they need the money, but today they don't do such again. Even an average person will rather lock their account with a particular a yearly return than let it stay idle in traditional banks and be earning peanut. Everyone has wide up, this is not like 80s and 90s where people do nothing with their money.

[Bd officer]

People still trust banks and keep their money in banks, which is why banks are still alive. But it is true that people are losing trust in banks day by day and are leaning towards investing instead of keeping money in banks.

Anyway, a few days ago I discussed the condition of banks in our country, people are not able to withdraw their deposits from some banks in our country. If people cannot withdraw their hard-earned money on time, then why keep money in banks? And the inflation rate in our country is 8%+, so money in banks has no meaning. But still many people do not trust anything other than banks.

[EarnOnVictor]

Do you also notice the shift that a lot of people are no longer saving for their retirements in the banks?

I couldn't have noticed because I do not have that statistics. But I noticed that people are getting wiser, as they prioritise investment and business to keeping money wasting in the bank. Banks are reapers and extortionera, as they would give you a little amount for holding your money, and might have gained multiples of the money you kept with them.

I'm glad I know this before it's too late. If I don't have anything to do with my money, I would rather buy the US Stocks, or Equity, or Bitcoin at a cheaper price and hold forever.

[Crypto_Timothy]

Do you also notice the shift that a lot of people are no longer saving for their retirements in the banks?

There is still money in the banking system, because those greedy people, i know if money wasnt flowing they wont still be in operation, so certainly there are people still saving money in banks but of course with knowledge comes a little bit of rebellion so naturally the number of people would reduce but the amount of money still following, i can bet they arent doing so bad. If check it, only a handful of people have the world's big money and they all keep their money in banks to bypass the system thats why i said even if the number of users reduce, the people with the heavy amount of money still use the banking system and most cooperation would still prefer a partnership with a bank to keep pension money and retirement funds  for employees

[Wiwo]

Things are changing every day, and people's interests and actions change too.

You may think that people are no longer saving in banks because most people are now aware of scams that come with exposing their bank assets in real life, unlike in the past, when a bank savings balance was the show-off thing.

Dont thinks that people have stopped keeping money in the bank, I just that approach have changed but not interest, pension and salaries, daily spending all this money flows through the bank.

[stompix]

My observation: A lot of people no longer save money for long term in the banks.

Your "observation" is false!
https://fred.stlouisfed.org/series/DPSACBW027SBOG
https://data.ecb.europa.eu/key-figures/money-credit-and-banking/bank-balance-sheets/deposits

Do you also notice the shift that a lot of people are no longer saving for their retirements in the banks?

You cannot notice something that doesn't exist!

Indeed, the turning point was the creation of bitcoin and since the inception of this innovation,

There was no turning point!

After recovering in 2024, global deposit inflows increased by a further +18.1% to EUR1.3trn in 2025. As a result, deposits attracted 31.7% of new savings, up from 25.4% in the previous year.

The growth, not the total sum of savings, is almost the size of Bitcoin's market cap.

[7juju]

Yes there is a great shift from what was obtainable in the past. Bitcoin now give people options to determine where they want their money to be kept. In the past people only had one option to save their money. Even people that never wanted the bank to save their money were left with no option than to choose the bank. So when bitcoin came out, it was like a big relief for everyone that has been looking for ways to boycott the bank when handling their money. So I’m not really surprised with the shift.

[YOSHIE]

Do you also notice the shift that a lot of people are no longer saving for their retirements in the banks?

Of course I pay attention to the situation of shifting people, maybe this is already happening all over the world, where people are now starting to reduce or no longer focus on saving long-term in the bank, Of course this happens because there are factors that influence this situation, one of which is inflation and bank interest.

Not to mention the impact of the value of money which continues to fall, people actually think that when money sits in the bank for a long time, it will actually change its nominal value, So many people place their money in investments, one of which is that investing in crypto is easier, although the risks are still there, but people are more confident in investing money in crypto than money in the bank.
In the current era of technology and economic conditions, when people in various countries are thinking about allocating their money to other instruments such as investing in crypto assets, I consider that to be advanced thinking and genius in the current situation, When people think of this method, it can at least fight inflation and is also a smart way to make digital deposits instead of deposits in banks.

[terrific]

Do you also notice the shift that a lot of people are no longer saving for their retirements in the banks?

Yes, and there's been a push from the financial experts, content creators and enthusiasts that people shouldn't keep their money in the banks.
And that's because:
1. Inflation
2. Cyber attacks
Money that's kept there is going to be lesser in buying power due to inflation.
Timely as it is, news about bank crisis and collapse of some of them could also be a factor.
More people are aware of it and with the recent cyber attacks globally, they're all scared if hackers take their money online.

[Rockson1]

The fact is that many persons has learnt their lessons that banks was actually reaping people off, so it is a waste of energy to keep the major part of your money in the banks all because you said you want to save and ending up getting peanut from the banks as interest after many years of dumping your money there and waiting, while you can invest the same amount in Bitcoin for the same long-term and get more as profit, although there are still people that are skeptical about digital asset like Bitcoin, they are still saving in banks, they prefer it and there is nothing anyone can do to change their mind because they feel their money is safe there, since they do not have a good knowledge of how Bitcoin works and aren't ready to learn because of their mindset.

[Shadiq]

Do you also notice the shift that a lot of people are no longer saving for their retirements in the banks?

I can see this change, but not among many people. This change can be seen among the younger generation, but it will not be a big statistic. Savings are rarely seen among the current younger generation, some are busy enjoying themselves and some are busy fulfilling their hobbies. There are some young people who save and among them there are a few who invest without relying on banks. A small part of them are investing in Bitcoin.

So if you say that many people are no longer saving money in banks for the long term, then it is wrong. Most of the middle-aged and elderly people still save in banks and invest in businesses. A small part of them knows about Bitcoin and invests in Bitcoin. This change is more prevalent among the younger generation, maybe after another 30-50 years it will be possible to agree with you.

[Cryptomultiplier]

The shift should be in the younger generations, I think not all from the older generations have switched completely to this digitalised phase.

My grand auntie still believes bank's the best place to keep your money, the sound of hard currency sounds like a totally different thing in her ears. I could say the same with my old man, banks or nothing.

It is my opinion that this generation ( Gen Z ), are the major propellers of the digitalised phase. The older generations too are involved but there's a massive influx of users in this generation. That cashless situation in Nigeria fvckef with a whole lot of people which also moved them towards the use of Bitcoin and other Cyptocurrency.

The solid reputation of digital access brought about so many innovations and thus opened the way for digital assets that can be held without the need of third-party or bank presence being involved and the Gen Z benefits more because this came on light in their time as compared to the oldies and some millennials that still find it hard to comprehend the knowledge of it.

The situation of the country, that's talking about my country also brought about alternative sources for holding and investing in noteworthy assets like Bitcoin that's why banks seem to be fading into the background for many of us.

I couldn't stress more on the inflation problem we are faced with on a weekly basis because this made whatever savings in the bank almost meaningless once it's withdrawn and trued to be used to purchase real items.

Besides digital assets, buying shares offered a way out of savings only and it pays better and is more of a productive way to hold money rather than keep it sitting in a bank account somewhere where constant tax and charges deplete it.

[Abdul Sami786]

People still trust banks and keep their money in banks, which is why banks are still alive. But it is true that people are losing trust in banks day by day and are leaning towards investing instead of keeping money in banks.

Anyway, a few days ago I discussed the condition of banks in our country, people are not able to withdraw their deposits from some banks in our country. If people cannot withdraw their hard-earned money on time, then why keep money in banks? And the inflation rate in our country is 8%+, so money in banks has no meaning. But still many people do not trust anything other than banks.

What you said is absolutely correct.If people did not trust banks there would be no banks in the country.But we have many banks in front of us that people use on a daily basis.The use of banks has decreased because in the past there was not so much inflation.People used to easily deposit money in banks for a long period which gave them a higher interest rate.But as inflation is increasing, money is needed every moment and the bank does not give money on time.Instead of worrying, we have considered it more appropriate to keep money in cash.And due to the inability to meet expenses from a business people have started giving more priority to investment than banks.

[Bityar]

Unlike in the past when a lot of people used to save their money in the bank for many years and be happy to be receiving meagre interests, more people have become financially intelligent and are rather investing their savings. It was only very educated people and very rich people that understood the gains of holding shares of companies, they grew richer as these companies were growing bigger while the financially unintelligent kept saving their money in the bank which depreciates due to inflation.

Bro i don't think so that people are not trusting banks or no longer saving their money in banks. People are saving their all money in banks. But this change is shifted to young generation or i would say the young Genz. Like old people are also familiar from bitcoin but they want to let it run as it is. So young generations have now understand that investing in bitcoin or crypto will be the best decision and this is the reason why the adoption of bitcoin and other digital currencies is growing rapidly. People will now also see crypto as a better and more profitable option to secure their future.

[DPHOR]

Do you also notice the shift that a lot of people are no longer saving for their retirements in the banks?

There some old people who are not that familiar with digital currencies and hence they only hope they have is to saving their money in bank and this could be on a fixed deposit account where they wouldn't have access to their bank till specific duration of time, while their profits keep yielding for them. For those old men, you can't tell them to be buying bitcoin or even converting their money into digital currencies to hold them by themselves, this could requires a lot of training for them to understand what they are doing on the process. For the youth it is more better to hold bitcoin because they could control their keys and general information in regards to digitalization.