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originally posted by: nOraKat
I think "savings" means not a savings account, but money saved regardless of the account.
But to be fair, prob 24% of the population is under 18 so its not as bad if that is the case.
originally posted by: Phage
On the other hand, it is liquid. Which, if you're saving for that rainy day, can be important.
I have probably more than I should in a Money Market account. But it feels snuggly.
originally posted by: dfnj2015
a reply to: annoyedpharmacist
Bernie Sanders wanted to double the amount Social Security paid out. I'm voting for Sander's type candidates!
originally posted by: annoyedpharmacist
originally posted by: rickymouse
Well, We do have some money in the bank, and we do have social security income. But all of that can dissappear if we were to have a depression. We could eventually get the money from the savings account, and understand we need some cash all the time to tide us through till things get back in line. As far as Social Security, if the economy collapsed, so does our social security for a while.
Going to retire in 25 years or so, and at that time social security will probably be gone as we currently know it. I am trying to plan as if it just won't be there.
originally posted by: annoyedpharmacist
Another topic for another day, and that sure sounds swell.....but who is going to pay for It?
originally posted by: rickymouse
Stocks can drop one hundred percent during a big depression, most people can lose that investment.
originally posted by: nOraKat
a reply to: AugustusMasonicus
I don't know how anyone survives without one. Do you hide money under your bed?
originally posted by: AugustusMasonicus
originally posted by: queenofswords
Maybe people prefer to purchase real estate or other investment assets rather than stick it in a low-interest savings account where all it does is just sit there.
Exactly. You are never going to grow your investment with a 1.5% APY.
originally posted by: DontTreadOnMe
Is the interest rate for a regular savings account even that high?
www.money-rates.com...
originally posted by: denybedoomed
Savings? What's savings?
originally posted by: AugustusMasonicus
a reply to: nOraKat
Does that take into account people like myself who don't have a savings account because a savings account is a joke when it comes to investing?