In order to get by in life, you simply must have money in a bank. That is how you would pay your bills, and it is a safe place to save money. Of course there are different types of accounts that you can have. Many people use a checking account for bill paying and cash flow, but you should also look into your bank’s cd rates and high yield savings account as well. You can not rely on social security alone to take care of you during your retirement years, so you have to save on your own as well. It can take years to save the kind of money that you will need, so look into it soon, and good luck to you in your future.