Is being frugal passe' ?

[muddobber]

Good day to all;
Boy am I mad (and plenty scared too). Like most baby boomers I was brought up by parents that had been through the Great Depression,where frugality was the norm.My folks(God bless and rest them)did a really good job cause I'm so cheap I squeak. When it came to money you saved what you could and put it in CD's or some other interest paying vehicle. Now with the Fed slashing interest rates(so folks can mire themselves in more debt) and economists like Mad Moneys Jim Cramer saying that interest needs to go lower, where does that leave people like us? It's been implied on more than one show that putting money in savings accounts is prehistoric and bordering on treason(for not being in the stock market). I'm too set in my ways to become an armchair stock-player and too leery to let some money manager risk my coin. Sorry to be so wordy, and thanks for letting me vent. There's gotta be folks out there in the same boat. whats your thoughts ?

[flatwater]

It's just the opposit , more people are being more frugal because most of us know that we have a false economy. There are a few country's that own us , one of them being china. If they were ever to call in their markers we would be dead in the water.
Flatwater

[Deberosa]

I have one retirment account that started in 1999. I put 100% in the basic fund guaranteed 6%. Everyone considered me crazy because they were making so much. Well, they lost most of theirs - took years to recover and I still have more than them at this point with the same funds...

So last year I switched jobs and started a new account - I decided to mix it up with some "solid" investments. First Quarter I lost money overall from what I put in!!! I am not too keen on investing in stock.

[gump]

Good day to all;
* * * * * * * * * * * * *Boy am I mad (and plenty scared too). Like most baby boomers I was brought up by parents that had been through the Great Depression,where frugality was the norm.My folks(God bless and rest them)did a really good job cause I'm so cheap I squeak. When it came to money you saved what you could and put it in CD's or some other interest paying vehicle. Now with the Fed slashing interest rates(so folks can mire themselves in more debt) and economists like Mad Moneys Jim Cramer saying that interest needs to go lower, where does that leave people like us? It's been implied on more than one show that putting money in savings accounts is prehistoric and bordering on treason(for not being in the stock market). *I'm too set in my ways to become an armchair stock-player and too leery to let some money manager risk my coin. Sorry to be so wordy, and thanks for letting me vent. There's gotta be folks out there *in the same boat. whats your thoughts ? *

The yields on some dividend ETF/Funds and/or balanced funds (bonds/stocks) yield 3-4%. With a little added risk you could significantly increase your ROI on your $, not to mention at least keep pace with inflation. I guess I question why someone would want to hold nothing but CDs/saving accounts for anything more than an emergency fund.

[mercedesrules]

...coin. ...*

Here is the rub; we may have to count our savings in something other than US dollars. Last year, and for several years gold has increased over 20% against the US dollar. Since I don't plan to relocate to a foreign country, I am putting some of my savings into gold and silver bullion and mining stocks.

I also think that inflation is at least three time the gov't stat. The current economic policy punishes savers and rewards debtors. So we savers must go back to "coin" for protection. The current debt-based economy started in 1913 with the creation of the Federal Reserve and has already gone "bust" at least 2 times: the gov't confiscating citizens' gold in 1933, and then defaulting in 1971 by refusing to allow foreign countries to exchange cash for gold. US citizens weren't allowed to even hold gold from 1933 until 1974. >:(

[Terri]

We are a posse of passe' people.

[MYellowRose]

If I was going to invest in stocks it would be those of companies that offer a divident reinvestment program. In otherwords the dividends paid on the stocks you own are used to buy more stocks or fractions thereof! I'd really like to get into the program put out by Procter & Gamble as the last time I checked it only cost $250 to start and if you allow them to either charge your credit card or take it out of your checking account they will do it on a monthly basis so you don't have to come up with the whole amount at one time.