"risk free"

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Historically yeah, now not so much 🫤.

It's an iffy investment.

I'd only say utilize it if your net worth is already $250,000+, or you're nearing retirement in my opinion (not financial advice).

You could get higher yields from a high yield savings account nowadays with the same amount of "safety".

It has its place. Banks can't bail you out, only the central bank 😉