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

[Rruchi man]

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

It's hard to notice this; people's retirement plans are not always made public or a subject of discussion. Even if you manage to get into a discussion with somebody who shares their retirement plan with you, compared to the bulk of others who will not be willing to share their retirement plans with you, it shows falsity in making this assumption that a lot of people are no longer saving money in the banks for the long term.

Sometimes we that have this knowledge of Bitcoin can easily just assume that others around us have the knowledge too and know what Bitcoin is, but it is not true. If something as popular as the gospel that has been preached for many years has still not gotten to every side of the world, bitcoin that is relatively new is not as popular as we may like to think.

[YellowSwap]

OP hope did you find out where people are keeping their money? Even if you can peep into your own people's account how about those who aren't a family??

Also do not trust people who tells you that they are investing, if that's what you want to hear they won't mind telling you so that you can leave them alone.

There is no way you can track what people are doing with their money, and from what I've noticedamy people still keeps money in the bank, so many people don't even have enough for investments.

[Emitdama]

People still trust banks and keep their money in banks, which is why banks are still alive.

He did not say though that people don't use banks anymore but he is only saying that people got wiser and they don't store money in the banks for a very long time, or they don't store most of their money on it anymore.

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.

Mobile/online banking is still on reach now. Now, it is possible to open up an account even without going on their offices. That is why the interest on the banks have actually grown too, especially to those that are not a bank person before. IMO, it is still better to diversify our money so that we don't completely lose them.

There are also banks now that supports crypto and other investment offers. So, it also makes people to stay on them and have access to all of these features in a efficient manner.

[ColdLava40]

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

It's possible but majority of people still trust the banks for things like retirement savings.

With the many insecurities and threats in the crypto world, people might not want to take that risk! Because they understand how life will be during their retirement so they have to make a more secured plan.

Although we all know the theory behind holding money in the bank, there no interest being paid which we are supposed to be paid. People look away from crypto savings because of it's price volatility but the idea is to focus on long term.

[decodx]

People still trust banks and keep their money in banks, which is why banks are still alive.

He did not say though that people don't use banks anymore but he is only saying that people got wiser and they don't store money in the banks for a very long time, or they don't store most of their money on it anymore.

That's the thing though, huge portions of our population still use all their money in traditional bank accounts because they have no choice…they just don't know any different, it seems. Banks have created themselves as a "safe haven" over decades, and sure maybe inflation rates these days suck majorly, but that didn't used to be the case, and we're all just creatures of habit!

I think the real cause of change will be generational. No way would I give the bitcoin a trophy for making us wake up. What happened was that there were generations that grew up with an easier time accessing information than before…for instance my cousins in their twenties learned about ETF’s watching YouTube videos and pressing buttons on their phone apps which cost nothing to sign up for. 20 years ago if you wanted to make investments you basically had to dress in suits and call a broker! So younger folks have grown up being able to explore and play around…older folks weren't given those opportunities, and hence aren't interested in doing anything outside of what their parents did and didn't try to do

[Josefjix]

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

Not everyone will get the information and not everyone also will accept the information even when they are aware, some people are just ignorant of information and never want to step up the game, still believe in the old systems even when it's not working. These people I call them "the sluggish"

If you are one of those who stopped saving money in the bank and diverted your financial attention into Bitcoin, congratulations. No matter how you preach this to others, people will still do what is in their mind.

[Alpha Marine]

You're wrong. The rate at which people keep money with the banks has not reduced significantly. People still save their money in banks. Most still keep money in the banks for the long term and get profit on that money.
Bitcoin made people become financially aware, but the percentage of people who are aware is not significant enough to cause a lot of change in bank deposits.
If people no longer save retirement money in banks, it's because there is now awareness of different funds you can put your retirement money in. It's not exactly because of Bitcoin.
There is no need to exaggerate how impactful Bitcoin has been. Less than 4% of the world uses Bitcoin, and that figure is not enough to cause a paradigm shift in how people deposit money in banks.

[hafiztalha]

People approach savings differently and there is a noticeable shift in it but putting your money in a bank is not outdated. As inflation is increasing, the value of money is decreasing and purchasing power is reduced; if money is saved in banks, then it is losing its value with the passage of time. So people are exploring different investment options like property, stocks, Bitcoin,  gold or other assets. These assets are going to give them better returns.

The stock market and other types of investments existed before Bitcoin. There is a difference between saving and investing because both are used for different purposes. Saving is used in any sort of urgency, whereas investment is going to give you long term profit in the future. Both are equally important at they place like savings are needed during emergencies when there is an unexpected expenses. It can become a serious mistake to put all the retirement savings into some sort of volatile investment. Especially when there is a major decline seen in the market.

[Mrbluntzy]

I think your observation is not so true, probably because you are generalizing the whole thing. Should I remind you that, having a bank account, casually saving money in that account and also keeping a long term retirement savings in that bank account is actually three different thing but you have generalize them together. There are a lot of people with bank account that are keeping a casual savings in the account and still lot of people too that save for long term. Although, due to the economy, people are trying to find best ways to invest their money but their are still lots of people that are keeping their money in the bank.

According to the World Bank Global Findex Database 2025:
In low- and middle-income economies, 40% of adults saved money in a financial account in 2024, up from 24% in 2021.
This represents a 16-percentage-point increase in formal savings.
Formal saving increased to 35% in Sub-Saharan Africa, up 12 percentage points from 2021.

[Fortify]

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.

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

There are definitely more options on where you can put your money these days, but in my experience are large amount of people are often just bad with money and would prefer to burn through it as fast as they earn it. There is a tipping point in the middle of their lives where people realize they need to start thinking about the future. However you'll still find that savings rates have always been lower than you might imagine. Just look up the average savings amounts of most Americans and it is shockingly low with most people struggling to cover an unexpected expense of $1k without going into some form of debt. There's actually nothing wrong with using savings accounts right now, because rates are quite strong and there is effectively zero risk because the government backs money in bank accounts. It was only a few years ago that savings accounts were paying 1% though, so you need to manage it through periods like that.

[Juse14]

I do not pay much attention to it because when it comes to society we need complete data as an argument that has value and validates this phenomenon, but I see people in my neighborhood who have not talked about saving in the bank or even to make deposits that could be due to some things that I suspect.
- Low interest, lower than inflation, people slowly improve their financial literacy because of easy access to information
- Gold and property being the main choice, it is much more valuable than just a count of the numbers that are in the bank account.
- etc
Are we able to distinguish how $1000 in 2006 and now 2026 with a difference of only 20 years, what we can buy in 2006 with $1000 and how much we will get in this day and age, and that's how painful inflation is, the old days we planned to lose it.

[abhiseshakana]

I agree that the emergence of BTC and retail investment has truly opened many people's eyes regarding inflation, but we can not assume that they abandoned bank, your observations are not comprehensive and do not necessarily apply everywhere, especially in my country where the literacy rate is low. Conventional banking remains highly sought after, and people continue to keep large sums of money in banks for several practical and social reasons. We know today bank not only a place to keep money, some of us heavily dependent on banks for daily transactions which integrated and give practical conveniences that cannot be entirely replaced by crypto assets or stocks.

On my country possessing a black ATM card are a hallmark of a priority banking client remains a highly coveted status symbol that many people strive to attain. So bank required big amount must be deposited into their savings accounts, which i see keeping money on the bank still very attractive. Beside that what makes banks never lose their charm is its ability to provide credit or loan, banks place great emphasis on cash flow and savings account balances as criteria for eligibility. So saving money on bank also has purpose for credit scoring.

Bank business existance depend on customer deposit funds, if we were to withdraw money en masse and shift it into investment assets or digital wallets, banks would inevitably face a liquidity crisis and collapse. But matter of fact large banks, in fact, continue to post profits and there is no widespread news of many banks collapsing. So i assume the majority of the public still trust banks and keep their money in them.

[Miles2006]

Op is right, majority of people no longer store their funds in the bank, though we cannot say same for everyone definitely everyone has their different choice, aside older people majority of the population store their money in the bank too. Probably fear of being in control, fear of what might happen next which is totally fine, well I believe these people lack clear understanding of what bitcoin is all about and aside bitcoin, few investment choice is available that will increase in value over time. The bank is not the right place to store money, If op is observing the massive adoption then it’s actually a good improvement that people no longer store their money in the bank.

[püsür]

I also think financial literacy has increased significantly these days. There are many reasons for this, but one important factor is the frequent media coverage of Bitcoin’s past price surges. And this has happened on a global scale. To be honest, I’m surprised at just how widespread Bitcoin is in the US. There are even plenty of adverts about cryptocurrency during NBA matches. It’s not just Bitcoin; other forms of investment have also increased compared to the past. Ordinary people are using a wider range of investment tools. With the rise of smartphones, investing has become much easier. Thirty years ago, when there were no phones or computers, it was of course very difficult. Bitcoin is also an investment that can be easily managed via a smartphone. I expect this trend to grow even further in the future.

[Davidvictorson]

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.

This is correct many years this was what people used to do. It is not like it has changed though, it is only that people have more and better options now than many years ago.

 

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.

It is not about very educated people per se, it is the enlightened people. In my country there are wealthy people who are in business that are enlightened even though they are not school educated. Both save their monies in the bank and still bought shares. What you should also know is that, even the dividends from the companies are not always profitable.

Here’s my thoughts, bitcoin is good but not everyone wants to invest in it for so many reasons one of which may be that currently the entry is high and requires good knowledge of how it works. Second, some of them just prefer the old ways of investing and that is also fine. Government lack of support in some quarters is also a factor discouraging people from investing or saving in bitcoin.

[PX-Z]

People still do, especially the working class, thy always choose bank that they think its more trusted or with lesser issue, and uts always for savings, means long term deposit.

But for business people/class at least those who earn millions a day, don't usually put all their money at banks, some or most have their own vaults. They only put it on the banks for record like they want to travel abroad for visa application or something. At least thats what i know those kind of people here.

[Stalker22]

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

What basis do you rely upon to draw such conclusions?  I think the majority of everyday people still have their cash locked up in normal bank accounts because they are scared shitless about losing it.  And statistical data and the banks yearly reports confirms that fact as well.

Even among those who choose to use some sort of investment app, at least half of users are basically gambling with their money, hoping that luck will be on their side (since putting aside their cash in a conventional savings account has suddenly turned into an exercise in futility).  This is not exactly financial intelligence, its sheer desperation.

[Nothingtodo]

In my country, the general public's confidence in keeping money in banks has now decreased. Especially, the general public keeps money in banks for future security and to deal with any difficult disaster or situation that may arise in the future. The sad thing is that due to the problems faced by the general public when they try to withdraw money from the bank later, instead of keeping it in the bank, they keep it with themselves. Moreover, the amount of interest that the bank is now paying is not enough for the depositor. Moreover, the unbridled rate of inflation over time has now forced the general public to lose faith in banks. Moreover, the banks in our country are constantly being looted and bankrupted, which is why the general public no longer decides to keep money in the bank for a long time.

[Renampun]

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

If you look at the recent case in Paraguay, where almost half of their population couldn't access their money because the bank they trusted collapsed, that's a small example that nowadays more people prefer to keep their money in banks.. Especially many people now just want convenience and don't want to bother putting their money into better long-term assets.. They prefer putting their money in banks because they believe it can be accessed anytime through an app and can earn competitive interest (like what some digital banks offer).

However, the better someone's financial knowledge, the more likely they are to avoid keeping most of their money in the bank.. They allocate it to different assets, such as gold, or even Bitcoin, because it's more likely to perform well in the long-term and reduce their dependence on banks that could collapse at any time.

[CryptopreneurBrainboss]

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

Here's what I noticed, people don't even have money again talk more of them having reserves to save in the banks for retirement. Alot of people are retiring broke that's why they don't even like retiring anymore and when you have to let them go they go looking for another job immediately so that they can maintain (keep up with expense) the lifestyle they have as living is now too expensive. Others already now understand the tricks the banks are using and seeing that their ROI is too poor that's why they're no longer trusting the banks but in all these, we still have a majority of people trusting the banks with their money that's why we have banks with millions of customers still but the more people are getting enlighten, the more the banks will keep losing their customers.