Banks keeping our money, like what happen to Germany many years ago. Digital dollar replacing our paper money??
I signed up with Oxford Investments and since then I get tons of E-mails from every other investment also. Many of the E-mails speak about how the Banks will keep all our money and maybe give us an I.O.U.. And that our government will issue a digital card, or digital dollar. I ended up closed all my Vanguard Accounts, paid the taxes and put it in a CD earning .50 %. We paid all our bills, paid our home off thinking use our money to keep what we can, like our home.
Final expenses paid off. Only have left a small credit card that we pay monthly. Is any of the above true? Thank you,
Terry Says
Nope — none of the above is true. And I’m sorry you disrupted your investment plan to follow those scare tactics.
There’s nothing wrong with having a paid-off mortgage and not being in debt.
I don’t know how old you are, but it’s always a good idea to have some retirement investments, as well as the safety and liquidity of cash. The stock market –over the long run — has had positive returns — even adjusted for inflation — over every 20 year period in the last 100 years.
But what’s done is done now. And you gave the government a present of your taxes — earlier than you needed to pay for them. At this stage, my advice is to keep working as long as you can and start saving and investing again.
