by OldGuy » 16 Jan 2025, 14:49 There has been an ongoing inflation in the value of fiat currency ever since it was first created. The longer you hold it the less it is worth.
for a real shocker, take a look at this calculator:
Inflation Calculator
https://www.usinflationcalculator.com/
and do your own test calculations.
Just as a single example:
If in 1971 I purchased an item for $ 1.00 then in 2024 that same item would cost: $7.75 Cumulative rate of inflation: 674.5%
Although this particular calculator is specifically based on US Dollars, similar losses apply to the value of currency from every country. Putting your money in a savings account is a waste of time. No matter what interest you earn, the entire account is losing value faster than you can save it.
Wake up! The only way to make your personal net worth grow is to find some way to invest it in something other than fiat currency. Therein lies the value of crypto currency, or gold, silver, real estate or other items to invest in that increases in value while fiat currency continues to be worth less and less just by its very nature.
Get rid of cash beyond your specific needs such as mortgage, rent and utilities; ongoing expenses. Invest in just about anything that goes up in value over time, even items that can be used in a barter trade. Holding any excess cash is a deadly loss over time.
