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/biz/ - Business & Finance

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12006359 No.12006359 [Reply] [Original]

>Never invested
>No shitcoins
>No (((Stocks)))
>No (((Mutual funds)))
>Still have all my savings at a safe 2% interest rate
How does it feel to be a paypig for the bankers biz?

>> No.12006391

>>12006359

>The bank uses the money to lend to others and invest.
>Allowing the bank to make major profits off your own hard earned cash because you lack the intelligence to do it yourself

That's gonna be a yikes from me.

>> No.12006403

>>12006391
Oof.

>> No.12006406

If I kept my money in a savings account, I would be 72% richer

>> No.12006450

>>12006391
>Risking your hard earned money in a system you probably know nothing about and thinking you can beat Goldman Sachs.

How do you think these people get so rich? Its from normal working class people losing their investments.

>> No.12006664

>>12006450
> thinking you have to beat the market for it to make sense to invest
Imagine having this little understanding of basic investment strategies. The best strategy for most retail investors is to buy a highly diversified portfolio and/or index ETFs and not try to time the market. The current implied equity risk premium implies a ~7% expected return on the market portfolio. There’s nothing wrong with you being extremely risk averse and content with a ~0% real return, but as >>12006391 pointed out, it’s pretty ironic that you’re calling other people paypigs for bankers.

>> No.12006748
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12006748

>>12006359
>2% interest rate

my savings are in the low zone of the 4 digits.
I guess I can retire when I have ~850k.
at 2% interest rate, it will take ~308 years from now.
308 safe years.
In late 2326 I will be able to safely retire.
mfw.

>> No.12006777

>>12006359
How does it feel to be losing interest to (((inflation)))?

>> No.12006897

>>12006748
try contributing more

e.g. I am filling my 401k and IRA each year and might be able to retire in 20 years.

>> No.12007120
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12007120

>>12006359
You played yourself, well done

>> No.12007233

>>12006359
>>12006391

The Bank never actually lends your money. It creates money through dual entry accounting. Pretty neat.

Also, stay poor.

>> No.12007448

>>12007233
>what is a bank run
Creative phrasing and economic utility aside, a bank only has so much in reserve, lends the rest, and these dual entries are only valid so long as the depositors never rush the bank for withdrawals all at once.

It is, in short, Schrodinger's money. It's there or not there depending on when you peek inside the box.