Welcome • User Guide
ToS • Privacy • Canary
Donate • Bugs • License

©2024 Poal.co

1.2K

This’ll be the perfect excuse to hasten the implementation of a digital currency that’ll allow the government to track your every move and purchase.

The beast is coming.

This’ll be the perfect excuse to hasten the implementation of a digital currency that’ll allow the government to track your every move and purchase. The beast is coming.

(post is archived)

[–] • 1 pt

gas is up over 40%. I just paid $5.85 for 3 apples.

[–] • 0 pt

Remember, as long as wages keep up, inflation is a good thing for working people and devastating for bankers. That's why it's not going to be allowed to happen for long. Plus, high interest rates are awesome for people who save. Back almost 20 years ago I used to earn almost $500 a month from my savings account. That same account earns about $4 a month today.

[–] • 1 pt

"As long as wages keep up" they won't.

"Devastating for bankers" lol no, they get handouts.

"Awesome for people who save" actually the exact opposite, if you have your money in a savings account, you don't know what "saving money" is

[–] • 0 pt

if you have your money in a savings account, you don't know what "saving money" is

So what has a better inflation-adjusted yield that's risk free?

[–] • 0 pt

Nothing on the planet is risk free, don't delude yourself.

  1. Gold and other metals (keep up with true inflation ~5%+ a year, get taxed on it though)

  2. Bitcoin (higher risk, can skirt the tax easier)

  3. Real Estate (a bit better than gold because scarcity ~7% a year, may be able to skirt some of the tax)

  4. Stock Investments (8% a year with some fund, 20% a year if you put some effort in, may be able to avoid tax at low volumes)

  5. Lego sets (will keep true value, no tax provided you sell cash. Hard to do high volume)

It is literally impossible to keep up with true inflation in most investments. The reason is because at best things will hold their value. Then you have to pay management fees, and once you are done paying those, you pay taxes. You will get 2%, true inflation is 5%.

The absolute smartest thing to do with your money is to keep reinvesting into your small business or hustle. Second to that is to YOLO into Bitcoin