Jamie Lee Curtis character quote.
The same strategy today, Treasury Bill yields .13% her annual yield would be $55. Five hundred and thirty years for her money to double.
The Economist 10/17/20.
Back then they actually paid good money, probably over 10%. Of course the mortgage rates were equally higher as well.
shareAnd people wonder why so many play the stocks. There isn't a single conservative investment option that outpaces inflation that I can think of. All of the old, easy to access paths to saving up a few bucks have all become another way to erode what little money people have to invest.
shareHopefully she locked in the 30 year rates.
In 1983 they were paying 11.18%. Today it is 2.0%.
Yes, people don't realize this.
For the mathematically challenged, $42K invested at 11.18% per annum amounts to $907,868 in 30 years.
This is not a trifle for someone in Ophelia's position. Imagine the life cycle of an uneducated hooker, living trick to trick. Once the body has worn out, then what's left?
$42K in T-bills in 1983 is a tremendous accomplishment, given the context.
Right on the money, aavfreak. (pardon the pun).
Interest in T-Bills back then was insane - by today's standards for sure.