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RE: Money for Nothing: The Growing "Lottery Effect" in Modern Society
Very interesting thoughts you put out there! I think there is a lot of pressure in today's world on individuals to "make it big" and that leads to a lot of frustration and anxiety in our society especially within young adults. Also, saving money in Fiat currency seems redundant with these levels of what you call "ghost inflation". I'll be following you for more. Greetings from Denmark! :) Tusind tak!
Selv tak! Saving money in fiat made more sense for my parents' generation (born around 1920) because saving brought a "real" rate of return. You could put your money in "savings" and make 8%, and banks didn't really charge significant fees for anything. Now returns are 1/2% and you get killed by fees... on top of which there is both "ghost" and real inflation. So you have to find something that represents a true store of value... whether it's gold, commodities or even cryptos... although the latter are pretty volatile and risky.
Yeah, it is quite clear that the days of fiat money saving are long gone. But I think each generation has different opportunities to invest in. I agree with you that cryptocurrency is risky and volatile, and whilst it has its place on the market, it should not represent too much of someones savings. It is pretty much speculation. In light of all that, I guess best thing to do is to stick with the old proverb "don't put all your eggs in one basket" and diversify your investments (commercial spaces, land, property, gold, shares, collectible items and art, crpto like 10-20%)...