Are you the dude that goes to city hall to pay the water bill with cash?
The problem is that your cash is losing its purchasing power. Had you kept it in some relatively safe investment 10 years ago, you'd have more than you have now. It's admirable that you don't spend much, but it's honestly just bad financial management to keep your money in cash. At some point, you literally won't have any cash left because you won't be able to afford anything that you need.
Whenever one tells a gold bug that they switch into justification via post apocalyptic scenarios.
So I'm not the first to notice your suspicious affair with cash!
In the event of an apocalypse, I'd advise that gold bug to use his stash to buy food, water, and guns. Lots of guns. Because people/zombies are coming for him and his supplies. After watching the entire "Walking Dead" series, it's become clear that we have more to fear from the survivors than from the zombies.
I will say, I bought mid five figures of gold in 2000, at an average or $300/oz. As a diversification position to today, I’m okay with the 6.5x return it has yielded.
lol suspicious? Cash is still legal tender you know? Despite what the overwhelming barrage of brainwashing does to the weak, cash is king and always will be.
But I don’t care as my monthly bills are so small I’ll take the loss of interest/gains for the ability to have a nice sleep knowing that banks aren’t making off me. My life, my rules. Each to their own.
You sound more like my Czechoslovakian grandmother and her mattress every day!
So then make it clear for us.
I was comparing HYSAs to money market funds, not generic savings accounts, which was apparent from the context of my post. Of course HYSAs are saving accounts and good for many purposes beyond those. I was simply saying they are better for those listed purposes than are MM funds.
Well, you open an account, and then select different investment products. Distinction without a major difference. I've never availed myself of any Fidelity's management offerings. And the adviser they suggested for us is a sub-30 year old BBA no doubt with a negative net worth. Probably need an 8 figure portfolio to get the best advisers, not like our low 7 figure account.
7 figure is fine for getting any quality mgmt products., and no custodian or advisor today lets an advisor make the decisions, they are using recommended portfolio and asset mgmt products and models that come from the top, their investment committee and long used software to do the asset allocation and rebalancing. An advisor just needs to be able to hear some words, ask some questions (from a form), fill things in properly and push it upstream or into the software systems. After that, it’s out of their hands.
Are you crying? Just loaded up the site and 3 notifications of you downvoting my comments LOL. Keep plugging away on the treadmill of finance. You’re made for each other. Cya x
There are way easier ways to get 5% without moving your money around like that.
