Before the financial crisis in 2007, Swedes had about SEK 700 billion in bank accounts. Today, that amount has nearly doubled, and Swedes now have a combined total of about SEK 1,250 billion in the bank.
Many people are skeptical about stocks, and if the stock market is turbulent and goes down, then people tend to put money in savings accounts, according to Maria Landeborn, an economist at SBAB.
However, Landeborn sees problems with this. Businesses need to be able to get capital by selling shares, she says. Furthermore, people who are saving money for the long term would do better to invest in stocks or mutual funds, she believes, because the returns are better in the long run.