Losing money by saving money
if you had to save in something else rather than the dollar which would be the best to save in?
now for example if you saved your money in the US dollar for the last 20 years your purchasing power would have decreased by 50%. check on the link below to check it.
http://www.in2013dollars.com/1997-dollars-in-2016?amount=1
let's look if you saved your money in something else for 20 years.
gold ----------- saving in gold would give you about 3.3 X your amount
silver ----------- saving in silver would give you about 2.3 X your amount
platinum ----------- saving in platinum would give you about 2.6 X your money
copper ----------- saving in copper would give you about 4.3 X your money
bitcoin ----------- saving in Bitcoin @ $0.09 cents to today would give you about 28932 X your money
litecoin ----------- saving in litecoin @ $4.29 to today would give you about 12 X your money
steemit ----------- saving in Steem @ 0.42 cents to today would give you about 4.3 X your money
so saving in anything other than the dollar would be a fantastic idea! thank you for reading.
Considering how much interest you get from your banks, saving is a bad option. I would rather invest in wisely in the things you listed. Thanks for sharing
ya investing is the better option, i put copper on there just to show even a common metal has better returns in savings than the dollar.
Good that I found this post. I'm thinking of investing in gold and silver.
yes investing into gold in silver has helped me a lot in savings over the years. when i got into cryptos i wish i dove in to it way more but i didn't miss that bus lol, are you investing into other cryptos?
Ohh. Just bitcoin and steem. I'm a newbie on crytocurrencies, but upon reading some articles, I'm thinking of investing in antshare too. What do you suggest, @goldsilverguide?
i am currently in clubcoin, steem, bitcoin, litecoin and ethereum. i dont want to divide myself up to much. have you thought about getting into mining online? great returns and don't have to continue buying all the time, passive income.
What is mining online? How is it done? I've seen posts about that, but haven't read any of it yet.
your money is spent on new equipment and for "X" amount of days what ever they mine and get with the new equipment you earn some of that back.
Thank you for your Post! Followed
thank you so much!
WOOOOOOOW! Awesome post. I like this information. Amazing the differences when you save in other forms of money.
Great job on sharing this information,
Very much appreciated!!!
ya, i love showing people what happens if you save in something or measure in something other than the dollar.
Very good article with some good informed information.
Many thanks
thank you for reading!
thanks for sharing, a good one!
This is good information because there are actually people who still believe that putting their money in a savings account is the best and safest way to save. There are many other vehicles available the put your money to work for you, gaining more interest, and faster than a typical savings account. time is more valuable than money. Thanks for providing that information.
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Ever since I got into cryptos and I see my bank account I always question why I am holding dollars.
yes i been saying the same thing. I got into Bitcoin in the 200's and now my gains are insane but my savings account for my bank is 0.01%, like wth? i looked at the dollar and its purchasing power over the last 117 years its lost about 99% of its original amount. So since cryptos are gaining strength i am trying to live of of just them.
Interest on bank savings sure way to poverty and slavery.@kevinace
ya it is and plus people still do it just because they don't know any better
A gallon of petrol in uk was half a crown (25p) in 1963 apparently with a 50% silver half a crown coin today will still buy a gallon of petrol. If left the 25p in a bank from 1963 to today bet it would not even be worth double today. You have to laugh at these crooks and their money deception. @kevinace
ya and it gets funnier and funnier they keep talking and passing laws to help and all they do is hurt. I think our leaders well the vast majority know nothing about money. except spend more then more and go into debt for more
They have to create more debt every year to pay off the previous debt plus interest. Works for the banksters but impoverishes the people. Best explanation of debt based money creation Edward G Griffin and creature from Jeckyl Island and how fed was created lecture well worth listening to if not heard.