Better to leave the money in the account than to be cheated

Better to leave the money in the account than to be cheated
Better to leave the money in the account than to be cheated

Banks, self-styled financial consultants and economic journalists do not give respite: we must not leave savings in the account. Thus the president of Assogestioni recently thundered: “The money in the bank account is bad for the country and the Italians.” All false. The truth is that the approximately 1.1 trillion lire parked in the bank by savers they are tempting to those who want to get rich at their expense. If they were able to divert even only a third of it into managed savings, they could (legally) steal something like ten billion euros a year, to be shared between banks, door-to-door sellers and managers.

Who like me does not rush to reinvest expired securities or other liquidity is branded as ignorant with no financial education or, better, of financial literacy. It is therefore necessary to inculcate it in him, that is to educate him to drink whatever concoction is offered to him by counter operators and home sellers: opaque and very expensive mutual funds, pension funds and trap policies, risky certificates and bad company.

Keeping liquidity is a prudent behavior to always have it available and above all to avoid suffering bloodletting for commissions, commissions and so-called uploads, which savers also don’t even see.

To scare them, manipulative speeches circulate in the press and on the Internet. Some even talk about a 28% loss in purchasing power for those who have kept uninvested savings for twenty years. But in 2001, no one was tempted to keep non-interest-bearing money for long. See already only i ordinary postal vouchers, without constraints, which offered 5.01% net compound, with which one now finds himself with more than double the purchasing power. Precisely with a real + 100.3%. Other than a loss of 28%!

It is in the current context, with market rates around 0% and even negative yielding securities, that many leave their money in their accounts. A comparison over twenty years is then specious, because not one undertakes to keep liquidity for twenty years. Each moment can change its destination. In particular, if you are concerned that the recovery in inflation is not temporary, you can turn to valid solutions for the defense of purchasing power, certainly not those pushed by banks and other sellers. See the article Against inflation there are BTPs, TFRs and interest-bearing bonds to defend themselves. Specialized funds should be avoided on the Everyday occurrence of 27 September 2021:

In Italy, the danger of a bank going bankrupt is currently very low, but for greater security there is cash, systematically recommended by the German central bank, but not by the Italian one. References and more information in Long live the cash.

There are postal savings bonds, with which one takes back in full at least what he has paid, also dribbling (lawfully) the stamp duty.

Finally, we read that you have to invest your money for the economy to turn. But then we might as well have them stolen, because thieves tend to spend the stolen goods immediately, thus making the economy spin like a top.

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