by Byron King, Daily Reckoning.com:
A penny saved is twopence clear,” wrote Benjamin Franklin in his now-classic Poor Richard’s Almanack, published annually between 1732–58. Franklin’s Almanack embodied — and perhaps shaped — the ethos of money in Colonial America.
Today, we’re far from pennies earning more pennies. Heck, we hardly even talk about pennies after a century of inflation. These days, if you deposit money in a bank, you receive historically low interest rates. I’ll show you an astonishing chart in a moment.
First, though, consider… What are the implications of low interest rates? How should you tailor investing to low interest? In this write-up, I have some thoughts on beating the low interest problem while preserving your wealth over the long haul…
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