Quote:
Originally Posted by eweissenbach
Russ, you are so right about the unpredicability of economic issues. I remember in 1983 when I was marketing annuities, we had to show the guaranteed interest of 4% and an intermediate rate (usually 8%) on projections - the current rate at the time was 11-12%. I had customers laugh when I pointed out the intermediate rate of growth, saying "we"ll never see single digit interest rates again in my lifetime".
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When I bought my second home in 1989 my older friend said, "you'll never get a rate again like we did. 7% for 30 years. They will never go below that in your lifetime". We'll my rate for my TV home that I'm buying this month, 21 years later, is 4.5% so you never know!