WHAT GOOD IS A NEST EGHG THAT EARNS LESS THAN 1% INTEREST.
You will eat up the principle in 3 years and be on welfare after you sell your house to a reverse mortgager.
Duke Power stock pays a 4.5% dividend as does AT&T and AEP.
In addition, why save - say - a half million dollars if that will only last you a year or two in the future economic collapse.
And don’t think that Obama and the libs weren’t paying attention to the money grab in Cyprus.
Its called redistribution. And thats been a part of Obama’s agenda since forever.
The low, low interest rates have not helped savings accounts.
15 years ago a money market account was earning a ‘low-moderate’ 8%.
8 years ago I put some of my savings into CD’s. They were only earning 5%. On renewal, 4%. Next renewal 3%. Next renewal was 1%, which was less than my money market was earning, so I returned the funds to the money market.
Currently, that money market is earning 0.75%.
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I have noticed recently that my weekly grocery bill is running between $50 and $60. About 4 years ago, it was between $30 and $45. And 4 years before than, it was running about $25 to $30.
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Right now, the government is benefitting greatly from the low interest due to the size of the National Debt.
Those low rates are unsustainable. SuperInflation and rising interest rates will happen. When they do, prices will skyrocket.
A brother-in-law was telling me a few days ago, about a friend whose dad needed assisted living caretakers. The family got him a reverse mortgage on his home, hoping the money would take care of him for years to come. The money lasted a couple years paying for caretakers. Now they have nothing.