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I think spending it on a house is one of the worst ones though. If the money was kept in the bank it would at least go to reinvest into other companies or help
by didibus 9y ago
I think spending it on a house is one of the worst ones though. If the money was kept in the bank it would at least go to reinvest into other companies or help people get loans, etc. But a big house, it just reserves land away and wastes material.
P.S.: I'd love to have a big house, and don't jusge people who can afford it that do. Luxury is fun, but in this case its wasteful non the less.
- cyberferret 9y agoYep. That's why I was careful to say 'bury the money/gold' rather than leave it in a bank account. At least in a bank account it earns nominal interest, and the bank can reinvest that money to generate more. I guess some of the worst investment advice ever was repeated to us as kids - viz Scrooge McDuck swimming in his vault full of money, or pirates constantly burying their loot... :)