MY DAD: when you have a bit more money, young tyke, you shall learn of the wonders of bank CDs, which will turn your small amounts of cash into fortunes if you are only patient ME: I’ve cashed $1000 in a top of the market CD for a year and am expecting to have 45 cents by the end
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MY DAD: You see young whippersnapper, I never touched the stock market. Just live within your means, with CDs! ME: *comparing average RoR for mutual funds/ETFs to CDs* yeah about that
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Replying to @BootlegGirl
whenever it comes to "money advice" i think this vonnegut passage sort of nails it: http://akkartik.name/post/money-river …
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Replying to @perdricof @BootlegGirl
by which i mean, there's a lot of sort of "moralist" money advice "buy the safe investment" "be responsible, buy stocks that have Real Value behind them" "don't play the stock market, buy CDs" but no, you should just look for the money river and park yourself there
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Replying to @perdricof @BootlegGirl
Well, if you can Its banks are fiercely defended
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Replying to @arthur_affect @BootlegGirl
ah yes of course, this part is important in order to park yourself next to the money river you need to have some money, preferably a lot of it probably should have led with that
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Well, all advice of this kind of irrelevant to people who don't have money "Just hold very still and don't exert yourself so you use up your water supply slower" is completely pointless advice to someone whose whole stored water supply is a small canteen
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