![]() My favorite story of his was the time he and his black friend/fellow sailor were on shore leave in the 50’s Deep South. Me, my mom, and my grandma busted out laughing while the folks from the funeral home gave us a funny look. My grandpa told his last joke after he died: as we were walking with the attendants out to the hearse, his pacemaker sounded an alarm to let us know something might be wrong. So in the end all I had to do was switch the heads." You see, right after you came in a woman showed up with her husband in a black suit and she wanted him wearing blue. "Oh no really, it didn't cost me anything. "No, I really appreciate it and I want to pay you, just take whatever you need." The mortician replies, "Of course, I was happy to do it. My husband looks wonderful in the black suit you found him." A few days later the mortician shows up at the first man's funeral and his widow walks up and says, The mortician assures her that it's not a problem and the second woman thanks her and leaves. Is there any way you can have him in a blue suit for his funeral?" Now the second woman comes in and says, "I know I've brought my husband wearing a black suit, but I've always really loved him in blue. The mortician agrees and thanks the woman and the first woman leaves. Here's a blank check, use whatever you need, I just want him in a black suit." The first woman says to the mortician, "I've got my husband here in his very best blue suit, but what I'd really appreciate is if you could have him in a black suit for the funeral. When inflation exceeds your interest rate, YOU'RE LOSING MONEY.So these two ladies walk into a mortician's office. The current annual inflation rate in CANADA is 5%Īnd the best savings accounts pay 0.5% interest So here's where the math doesn't add up for the smart saver: It's why grandma used to buy a Coke for a quarter. ![]() Over the last century, it averages 2% per year. ![]() More demand than supply drives costs of goods up.Īnd when costs rise, your money buys less. Inflation is the result of increased demand in an economy. That savings account is robbing you blind. Proudly, watching your money grow in a savings account? Having debt and investing are not mutually exclusive. If debt carriers dismiss investing, they'll stay poor forever. People will argue about interest rates vs. On the day your debt is paid off, you have savings too. To start, put $900 to your debt, and $100 to investing.Īs your debt decreases, you can shift your allocation.Įventually, the whole amount goes to investing. So don't let debt keep you out of the market entirely.ĭecide what you can contribute to debt & investing together. Of course it's important to pay your debts. Meanwhile, a habit could have been established. Message me to learn more about these dividend-invesment plans which can have multiple tax benefits and guaranteed growth.īecause that will keep most people from EVER investing. So figure out what your cash savings really need to be. Meanwhile, your money could be working for you. They invest your money, for their benefit. See, when you don't put your money to work for you, your bank puts YOUR MONEY to work for THEM.īecause banks are big, huge profit machines.Ī ton of bank profits come from money sitting in savings accounts just like yours. ❌ Too much money in a boring old savings account ❌īecause money is always working in the background. Most people are proud of their savings accounts.īut I'll tell you what doesn't make sense.
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