By Jody Chudley My dad just shrugged his shoulders and said…
“What can you do?”
I had just shown him this chart…
My dad’s casual reaction was very different from mine…
The chart depicts how much a saver has been able to earn from $100,000 stashed in a savings account over the past quarter century.
When my parents were winding up their careers in the mid-’90s, a $100,000 savings account balance generated annual interest income of more than $5,000.
Today, that same $100,000 in a savings account generates $100 – virtually nothing!
For retirees of my parent’s generation, this is absolutely brutal and unfair.
These people worked for 30 or 40 …read more
