I’ve saved for years, but my money feels stuck – What am I doing wrong?

Up next on MaltaCEOs.mt’s Work and Wealth Watch series where Money Coach Luca Caruana gives his expert responses to all your questions related to money, work and wealth. Want to see your own questions answered on MaltaCEOs.mt? Send your questions on info@moneycoachinghub.com

Dear Luca,

I have always saved money regularly – my parents had always emphasised to save money in the bank, and I’ve been doing this consistently per month since my first job. Now at 38, I have a good amount of money saved.

And yet, despite all this, I’m noticing that my money isn’t growing the way I expected. Ten years ago, my expenses were lower, and my savings gave me a sense of security. Now, everything – from groceries to simple needs, like medicines – has become more expensive, and I’m worried that my money isn’t keeping up.

I don’t want to take big risks, but I also don’t want to wake up in another ten years and realise that my savings have lost value. Am I overthinking this, or is there something I should be doing differently?

Stuck Saver

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Luca Responds

Dear Stuck Saver,

Congratulations for building strong savings, but you are correct in saying that saving alone isn’t enough to stay ahead financially.

Let’s break this down with a simple truth:
A €100 bill saved in 2004 is worth just €64 today.

Why? Inflation.

The cost of living has risen, and that means that the value of money is being eroded consistently. If your savings aren’t growing at the same rate (or better, faster) than inflation, you’re actually losing purchasing power.

And that’s the real problem: A savings account is a great place to store money, but not to grow it.

What can you do?

1. Move beyond basic savings
   Your first step is ensuring your money keeps up with inflation. Right now, there are flexible savings funds offering 3-4% annual returns, which already puts you in a better position than a traditional bank account.
2. Investing: The key to long-term growth
   If you really want to build wealth over time, investing is your best friend.

The S&P 500, a stock market index tracking 500 of the largest U.S. companies, has averaged 7-10% annual returns over the past 90 years—far outpacing inflation. This means that had you invested some of your savings 10 years ago, instead of leaving it in a bank, you wouldn’t be feeling stuck today.

And here’s where compound interest is great: Your money doesn’t just grow—it grows on top of previous growth. The earlier you start, the more powerful the effect.

What’s the next move?

Aim to put a part of your savings into investments month by month. You can do it also by approaching a licenced investment advisor who may help you divide your portfolio accordingly.

Remember: Your money needs a job. If it just sits in a savings account, inflation will keep eroding its value. But if you give it the right tools—you’ll be in a much stronger position 10 years from now.

You’ve already built the habit of saving. Now, it’s time to make those savings work for you.

Luca

The Money Coach, from the Money Coaching Hub

CEO & Founder of Monipal

Measure your Money Health in 1 Minute: https://moneycoachluca.scoreapp.com/