I don&#x27;t think that&#x27;s the case here at all.  You&#x27;re talking about people that are <i>both</i> savvy enough to have a savings account <i>and</i> familiar enough with investments to know that a savings account is bad compared to other investments.  On top of also knowing another place to put their money (many people completely fear the stock market and all index products).  The average American is just not sophisticated at all here.  We&#x27;re talking about a nation that isn&#x27;t familiar with balancing a checking book (thanks to debit cards everywhere).<p>Many people that can invest elsewhere simply don&#x27;t.  Because they do not know about investing.  They may be lawyers or doctors.  But their money just accumulates.