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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsHow many of You in DU land are squirreling away your money?
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Article points out that the rich and uber-rich are now keeping more and more of their money in their private little piggy banks - not investing it, not deriving any interest on it, just keeping it safe from the vicissitudes of life. Guess everyone needs a bit of cash to fall back on, you know to buy that sports car or go on that around-the-world trip, or that little yacht you have your eye on.
http://www.businessinsider.com/r-what-if-the-caution-of-the-super-rich-ebbs-2014-11
Me - I keep my McDonald's coupons and Dollar General flyers safe under my mattress
Orrex
(63,172 posts)FSogol
(45,446 posts)5 Guys Burgers and 6 packs of Lancaster Milk Stout.
Erich Bloodaxe BSN
(14,733 posts)And then the Bush economy hit, my job faded away, and it all got drained away to use for ongoing monthly bills. The stocks went first, the last IRA was emptied just this last week, with the money going to pay monthly bills.
Things are going to start getting uglier real soon...
giftedgirl77
(4,713 posts)I'm getting screwed...
laundry_queen
(8,646 posts)I was totally screwed too...just about to start work after getting my degree - gonna be fun digging myself out. My savings consists of a savings account where I save money for things like property taxes and car repairs. Sometimes it has money in it and most of the time it doesn't because...stupid car keeps breaking down and property taxes.
TampaAnimusVortex
(785 posts)MohRokTah
(15,429 posts)once they get the full Monty Teabagger House that will be willing to throw the entire global economy under the bus in order to stand up to Obama and "take our country back".
All paper currency, and its electronic equivalents, will be worthless once the force the US Government to default.
roamer65
(36,744 posts)Paper crap won't be worth a "continental".
dixiegrrrrl
(60,010 posts)Some of our cash is buried in mason jars
some in jelly jars
some in pickle jars...........
NightWatcher
(39,343 posts)That first one as it turned out is not going to happen. Who knew that Garbage Pail Kids cards were not a good investment?
madville
(7,404 posts)I'm down to 57k on my house and want to have it paid off within 6 years. I wouldn't ever hoard cash, maybe good bartering commodities like precious metals, ammunition, alcohol, cigarettes, long term food stores, water purification, etc.
alarimer
(16,245 posts)I actually manage to save $100 a month. Not a lot, but I use Betterment, so hopefully over many, many years, that may translate into some gains. We'll see. So far, so good anyway.
But I don't see the point of sticking it away in a box and not at least investing it somewhere. I mean, that's just stupid. It better be an airtight and climate-controlled place at least, otherwise they might find it ruined by bugs or mildew or something.