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My kids bank account just got taxed 5.4%. My pay went down 5.4%. Maybe it's not quite exactly like that, but I genuinely feel bad for anyone with USD.

throwaway6734 5y ago
It's not like that at all. I don't.
jstx1 5y ago
Your purchasing power for the goods in the index changed by that much over a year. It didn't "just" happen. And you aren't necessarily affected to the tune of 5.4% - could be more or less depending on how you use your money.
- deregulateMed 5y ago
  >It didn't "just" happen Doesn't change the reality of it. And yeah it's savings for college, so it's just a wake up call to get out of USD and into diversified investments.
jliptzin 5y ago
If you keep all your money in cash, sure. That should be a surprise to no one. If you have real estate, stocks, other assets, you're doing fine. My stock account went up 20% just in the last 6 months.
- deregulateMed 5y ago
  Yeah guess I need to manage my toddlers money.
  - jliptzin 5y ago
    Why do you keep a cash account in your toddler's name? If you are saving for college, etc, that should be in something that grows over time, like stocks, not cash.
    - deregulateMed 5y ago
      Money needs to be periodically invested and I don't want to make a stupid tax blunder. Also, it's nice that me and you both know to invest. When I grew up my parents did not invest. You bet the less affluent are losing 5.4% of their money.
      - jliptzin 5y ago
        That’s true, and I’ll bet a lot of people know they should be investing, but don’t have the savings to do it. Employers should at minimum raise wages to keep up with inflation automatically but sadly I’m sure most just don’t care enough.
mywittyname 5y ago
I'm curious, what did you investment portfolio do this past year? I bet it did better than 5.4%.
azth 5y ago
> but I genuinely feel bad for anyone with USD. Why just USD? Isn't everyone affected, including holders of Euro, GBP, etc.?

throwaway6734 5y ago

It's not like that at all. I don't.

jstx1 5y ago

Your purchasing power for the goods in the index changed by that much over a year. It didn't "just" happen. And you aren't necessarily affected to the tune of 5.4% - could be more or less depending on how you use your money.

deregulateMed 5y ago
>It didn't "just" happen Doesn't change the reality of it. And yeah it's savings for college, so it's just a wake up call to get out of USD and into diversified investments.

jliptzin 5y ago

If you keep all your money in cash, sure. That should be a surprise to no one. If you have real estate, stocks, other assets, you're doing fine. My stock account went up 20% just in the last 6 months.

deregulateMed 5y ago
Yeah guess I need to manage my toddlers money.
- jliptzin 5y ago
  Why do you keep a cash account in your toddler's name? If you are saving for college, etc, that should be in something that grows over time, like stocks, not cash.
  - deregulateMed 5y ago
    Money needs to be periodically invested and I don't want to make a stupid tax blunder. Also, it's nice that me and you both know to invest. When I grew up my parents did not invest. You bet the less affluent are losing 5.4% of their money.
    - jliptzin 5y ago
      That’s true, and I’ll bet a lot of people know they should be investing, but don’t have the savings to do it. Employers should at minimum raise wages to keep up with inflation automatically but sadly I’m sure most just don’t care enough.

mywittyname 5y ago

I'm curious, what did you investment portfolio do this past year? I bet it did better than 5.4%.

azth 5y ago

> but I genuinely feel bad for anyone with USD. Why just USD? Isn't everyone affected, including holders of Euro, GBP, etc.?