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Old 06-18-2018, 05:20 PM
 
16,376 posts, read 22,420,585 times
Reputation: 14397

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Quote:
Originally Posted by JimRom View Post
if all you're doing with your savings is letting your bank use it then you aren't going to do great - you'll do better than spenders, but not by much.
It depends how much someone saves. A saver can do a lot better than a spender if they save a lot, even if they put it under a mattress.
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Old 06-18-2018, 06:29 PM
 
Location: alexandria, VA
16,352 posts, read 8,060,506 times
Reputation: 9726
Quote:
Originally Posted by JimRom View Post
Basically, yes. I stopped doing that once I figured out how compound interest works.
The magic of compound interest. Even a small annual return will become big bucks over time.
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Old 06-18-2018, 06:34 PM
 
Location: Florida
77,013 posts, read 47,464,680 times
Reputation: 14806
Quote:
Originally Posted by Freak80 View Post
All US presidents directly control interest rates with a system of levers and pulleys located in a secret compartment is the Oval Office. The same secret compartment contains levers that control global oil prices, the unemployment rate, the economic growth rate, the inflation rate, global CO2 emissions, and the severity of your wife’s period.
There is also a knob to control the QE.
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Old 06-18-2018, 06:44 PM
 
4,481 posts, read 2,273,769 times
Reputation: 4092
Quote:
Originally Posted by Lizap View Post
Unfortunately, I believe the FED has become subject to political pressure.
Are you talking about pre Trump because interest rates have been at the lowest since the recession, despite the upward economic trend that followed. Aka, it's been artificially inflated with cheap money.
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Old 06-18-2018, 06:45 PM
 
4,481 posts, read 2,273,769 times
Reputation: 4092
Quote:
Originally Posted by marino760 View Post
Some people will blame Trump if their toilet doesn't flush correctly and post about it without giving it a second thought.
Best line in this thread.
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Old 06-18-2018, 06:49 PM
 
45,676 posts, read 23,917,978 times
Reputation: 15559
Interest rates going up, price of cars going up -- auto industry is not going to be happy at all.
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Old 06-19-2018, 03:20 AM
 
79,908 posts, read 44,040,844 times
Reputation: 17199
Quote:
Originally Posted by JimRom View Post
Savers are doing better than spenders. Investors are doing better than savers. Again, if all you're doing with your savings is letting your bank use it then you aren't going to do great - you'll do better than spenders, but not by much. If, however, you put that savings into the right account you will do quite well in the current market.
It was not a discussion on what to do with your money. It was a simple statement. Savers are not doing well and even saying they are doing better than spenders is a generalization, nothing more.
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Old 06-19-2018, 07:22 AM
 
Location: Jacksonville, FL
11,111 posts, read 10,664,343 times
Reputation: 9756
Quote:
Originally Posted by pknopp View Post
It was not a discussion on what to do with your money. It was a simple statement. Savers are not doing well and even saying they are doing better than spenders is a generalization, nothing more.
Saying that savers are not doing well is a generalization as well, but if you want to argue semantics feel free. The fact that you don't understand the difference between spending, saving, and investing is not my problem.
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Old 06-19-2018, 07:24 AM
 
79,908 posts, read 44,040,844 times
Reputation: 17199
Quote:
Originally Posted by JimRom View Post
Saying that savers are not doing well is a generalization as well, but if you want to argue semantics feel free.
Please, explain how they are doing well.

Quote:
The fact that you don't understand the difference between spending, saving, and investing is not my problem.
If you would rather change the subject, that is understandable.
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Old 06-19-2018, 08:03 AM
 
Location: Jacksonville, FL
11,111 posts, read 10,664,343 times
Reputation: 9756
Quote:
Originally Posted by pknopp View Post
Please, explain how they are doing well.
It's your claim, you explain it. I've already stated my position, which is that savers do better than spenders and investors do better than savers. "Doing well" is a relative term, anyway, which depends upon what one's own view of "well" is.
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