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A comment on To make a fortune, target bored young men who want to make a fortune. Parent comment

Re:To make a fortune, target bored young men who want to mak... by chii on Tuesday April 16, 2024 @10:31AM (#40052443)
> an older generation trying to tell the younger one about putting money in a savings account and letting it earn compound interest

i have not heard a single older person saying this. Every one of them says to invest in assets, not bank interest.

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Re:To make a fortune, target bored young men who want to mak... by stetrain on Tuesday April 16, 2024 @10:34AM (#40052483)
I heard it from parents, grandparents, high school teachers and college professors. And the comment I replied to specifically mentioned "compound interest"
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Re:To make a fortune, target bored young men who want to mak... by snovymgodym on Tuesday April 16, 2024 @11:05AM (#40052914)
I've heard the savings/bond/CD advice from older people who were working during the Volcker years.
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Re:To make a fortune, target bored young men who want to mak... by memcg on Tuesday April 16, 2024 @12:34PM (#40054087)
Sure, I started an IRA account in 1985 with CDs paying 10+%

But, I bought my house in 1982 with a 15.5% mortgage, refinanced @ 11.25 after a couple years and again @ 8.5% until it was paid off in 2002

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Re:To make a fortune, target bored young men who want to mak... by stetrain on Tuesday April 16, 2024 @12:40PM (#40054169)
What happened to the value of your home in that time?
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Re:To make a fortune, target bored young men who want to mak... by memcg on Tuesday April 16, 2024 @01:03PM (#40054461)
The point is that mortgage rates and savings rates move together, so your experience is determined by whether you are a saver or borrower.
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