I remember compound interest back before the Savings and Loans went away, but where can you receive that kind of compound interest today? I remember back in the mid seventies 7% compounded daily saving accounts and mortgages at 8%. I thought the only ones with compound interest daily were the charges on credit card balances? Please let me know what bank I can receive compound interest on a daily or monthly timeline? I find it very unfortunate that the younger generation barely receives 1% on a savings account for their future retirement. Little incentive to save when the cost of living is at least double that. Of course financial investment companies can promise the world away to receive their money, the collapses of 2001 and 2008 can eliminate, and did, what they had invested. Of course the investment companies never lose their money and have a curious way of maintaining their wealth (ours). The lower middle class has not seen the raises in their wages as the upper middle class and above. I am still employed 40 hours a week and making the same as I was in 1985. This class divide is growing worse each year and the pensions that many enjoy will not be there for them. I pray for those that are younger that they will have as much as we have been blessed with.
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