• @TexasDrunk
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    261 month ago

    If you have 7 figures saved and don’t have it properly invested you’re losing money at the rate of inflation minus the paltry interest rate you’re getting from the bank.

    Except for retirement accounts, the middle class and lower keep most of their money (I would guess most times it’s all of their money) in banks because it’s easy to make it liquid. On any given day you may have to spend it.

    • kn0wmad1c
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      fedilink
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      6
      edit-2
      30 days ago

      True, but you don’t need 7 figures to make your bank account look like a phone number. You need at least $10k, since there will always be two more digits to cover the cents.

      • @TexasDrunk
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        530 days ago

        I didn’t really think of it that way because I can’t imagine really advising people to stop working once they have $10k in the bank. That seems like a recipe for disaster.

        However, you are technically correct. The best kind of correct. I hereby promote you to grade 37.

  • @postnataldrip
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    1530 days ago

    The 911 equivalent in Australia is 000. Just sayin’

  • @d00ery
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    121 month ago

    Also, having all your money in the bank is unlikely to earn much interest!

  • @RBWells
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    630 days ago

    Dial 0 to reach the operator!