Quote:
Originally Posted by Rain Man
My in-laws did something back in the 1980s that I thought was pretty smart. When inflation spiked in early 1980s they put a bunch of money into long-term CD ladders. Then inflation went down and for 10+ years they were getting something like 8 percent risk-free on their investment returns in 3 percent inflation. I'm trying to figure out when they peak so I can do the same now. That's the key to success.
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My FIL came to me in 2015 and asked me what I thought he should do with some money. Of course this was out of the blue with no associated detail. So I was like, "uhhh... What money are we talking about?"
Oh back in the 80's I put some money in a
15% CD and it's coming out now...
My ****ing brain exploded all over my damned basement.
WTF? 15%? If anyone took a picture of my face I'm sure it'd be a meme today.
I'm trying to remember. I think I told him to pay off all debt.... Don't have any... Well, I'd stick it in an ETF.
So I had to ask him how the hell he got a CD a 15%. Like ****ing seriously. He said, yeah, I scraped together every nickel I could scrounge and stuffed it in there. I needed the money (obviously he didn't - see the no debt comment), but I didn't figure I could get 15% on the farm (I think he did but he isn't doing any math and I didn't argue).
15%.....