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MOMFUDSKI

(5,535 posts)

5. Long gone are the days of 12% CD rates that were perfectly safe unlike the stock market.

Reply to Wicked Blue (Original post)

Wed Jan 27, 2021, 06:55 PM

Jan 2021

And here we all are. Rule was SAVE and make interest on your money. Moved into our condo 23 years ago. At the time, the condo Association had a huge bucket of money due to rolling over CDs as they matured. The retired folks living here at that time were living off of their interest and not even having to touch their principle. It all made sense if you had done 'the right thing' prior to retirement. And then the shovel broke . . . . Please correct me if I am missing something here.

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Fed Stresses Its Commitment to Low Rates for the Long Run [View all] Wicked Blue Jan 2021 OP

Supercalifragilisticexpealidocous pbmus Jan 2021 #1

The reason we're in this mess, aside from the pandemic, is Low Rates for the Long Run bucolic_frolic Jan 2021 #2

We are in this MESS because of many reasons and low interest rates is NOT one of them... pbmus Jan 2021 #3

Please recheck your thoughts also, low rates got us into this mess from 2009 through the present bucolic_frolic Jan 2021 #4

First, you are a mainstream theorist and I am a modern money theorist... pbmus Jan 2021 #7

Long gone are the days of 12% CD rates that were perfectly safe unlike the stock market. MOMFUDSKI Jan 2021 #5

Also long gone, the 15% mortgage rates of the early 1980s, thank heaven nt Wicked Blue Jan 2021 #6