[ratman201]

Originally Posted by Centaur

I made a pretty penny on stocks a few years back. Not a lot for most people, but a fair bit for me. Even than I earned some interest, but it was just enough to offset the service charges. Just. And it was 5 figures.

I do admit, I don't know a LOT about banking and interest RRSP's, but I know more than a few people who have been fucked over. Hard.



Money is worth less every passing day anyhow, depending on how much money they diced to put out. That's one of the basics for inflation, no?

Yes, but earning interest on the money you currently have each year would help to offset it. For arguements sake lets say that the interest rate of the world is fixed at 3% for the rest of your life. If you stick $1000 under your bed in 10 years that 1000 will only buy about 750 worth of stuff would now, drag it out over 50 years and it is worth virtually nothing. You still have the $1000 it just can't buy as much. Now if you had some sort of investments that earn about 3% on a $1000 in 10 years you would have $1343 however it will buy the same amount of goods as $1000 did today. Thats offsetting inflation. It's about buying power not the number on a statement.

[Sonny]

My retirement funds are in registered mutual funds. It's a bit of a gamble, but I make sure to contribute monthly so that I can take advantage of dollar cost averaging.

[Lorenz]

Originally Posted by ratman201

My point is still valid. Just because you can't offset inflation completely doen't mean offsetting it a little is stupid. The problem is that with rampant consumerism and impusle buy people say "whats the point, thats like $5" true if you are so poor, as I am, that you can't see the light at the end of the tunnel it makes it much harder, but that doesn't mean spending money like a moron is going to improve your life one bit.

I wasnt arguing with you... I was simple stating the futility of a low yield bank account actually making you any significant amount of money - something that can be frustrating for people when you consider how hard they work for that little amount of money.

[ratman201]

Well anyways being that I'm only half AZN, I can only crunch numbers for part of a day before it gives me a head ache. So I'm going to go ahead and post a MM worthy booty:

[Lorenz]

That ass actually repulses me - does this make me gay?

[Centaur]

HOLY shit.


Thanks though Ratman. Always good to get another point of view.

[Sonny]

Originally Posted by Lorenz

I wasnt arguing with you... I was simple stating the futility of a low yield bank account actually making you any significant amount of money - something that can be frustrating for people when you consider how hard they work for that little amount of money.

The key is thinking long term and compound interest. Also, I tell people to contribute to a retirement fund just for the tax incentives alone.

[Sonny]

Originally Posted by ratman201

Well anyways being that I'm only half AZN, I can only crunch numbers for part of a day before it gives me a head ache. So I'm going to go ahead and post a MM worthy booty:

magicman will like that for sure.

[ratman201]

Originally Posted by Lorenz

I wasnt arguing with you... I was simple stating the futility of a low yield bank account actually making you any significant amount of money - something that can be frustrating for people when you consider how hard they work for that little amount of money.

No no I completely understand your point. It's a situation I'm presently in. However I've met many many people that have trouble paying rent and food bills, but they have AC, a car and a cell phone which is what I mean by poor spending habits. You NEED food and shelter you don't need AC and a cell phone.

[Lorenz]

Centaur well driving to the Liquor store I got to thinking about the SkyTrain, and the first time I went on it, I had no idea you had to punch the ticket (I bought a booklet of them), I just figured if the train cops came and hit me up, I could just hand them a blank ticket. LOL, good fucking thing my friend explained it to my dense self before I got the 100$+ fine.