Friday, May 6, 2016

Children tale on money

While reading a children's book about money for fun I discovered this fairly tale bank:

Ooh where can you find 5% interest nowadays? Today a savings account is more like 0.1% interest. Come on kids, do that division... just how small is this interest rate now? You don't get 5% even on a Certificate of Deposit for 10 years with $100,000.

Now once upon a time... that interest rate WAS true. The author is not entirely lying.

Why the heck interest is SO low these days? That means: got to invest and risk losing or leave it there to see your money evaporate in inflation. Good luck.

Is there ay children's book about this incredibly low interest nowadays?

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