Poor Granny

To put the absolutely dismal interest rates we are getting on savings into perspective think of it this way. The highest yielding 1-yr CD pays 1%. At that rate, it takes 70 years to double your money. By contrast at 5% it takes only 14 years. And, at 10%, it takes just 7 glorious years. Because rates are so low, investors speculate in gold, oil, copper, and other commodities while interest poor granny sits alone in the dark.

Share This Post
Facebook Twitter Email

Speak Your Mind