Yuval Shuminer, CEO of Piere, emphasizes that young professionals lose significant amounts of money by keeping savings in low-interest accounts, often overlooking the better options available. Instead of focusing on small daily expenses, like coffee or avocado toast, Shuminer argues that the real issue lies in not taking advantage of high-yield savings accounts, which could potentially yield thousands in extra income. Piere was launched to automate financial optimization, shifting the focus away from budgeting restraint to maximizing financial growth.
That alone is $10,000 they're leaving on the table. Young professionals are losing significant amounts by keeping savings in low-interest accounts instead of optimizing their finances.
As a New Yorker, Yuval Shuminer was used to expensive coffees and brunches. It is an absurdly expensive city, but daily purchases aren't the main issue.
The conclusion we came to is that we're taking so much brainpower to think about the $5 that we spend on coffee every day.
Shuminer launched Piere to automate financial optimization, believing that many should focus on maximizing returns rather than just budgeting tightly.
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