Quote:
Originally Posted by Buehler445
My FIL came to me in 2015 and asked me what I thought he should do with some money. Of course this was out of the blue with no associated detail. So I was like, "uhhh... What money are we talking about?"
Oh back in the 80's I put some money in a 15% CD and it's coming out now...
My ****ing brain exploded all over my damned basement.
WTF? 15%? If anyone took a picture of my face I'm sure it'd be a meme today.
I'm trying to remember. I think I told him to pay off all debt.... Don't have any... Well, I'd stick it in an ETF.
So I had to ask him how the hell he got a CD a 15%. Like ****ing seriously. He said, yeah, I scraped together every nickel I could scrounge and stuffed it in there. I needed the money (obviously he didn't - see the no debt comment), but I didn't figure I could get 15% on the farm (I think he did but he isn't doing any math and I didn't argue).
15%.....
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I was living in Denver, my son was a baby (41 now) And I got a check from the company for moving expenses a couple months before. I called the broker I had an account with and said I had a few grand to sock away. He said call your bank...I stoped at bank that afternoon and got a 12 mo CD for 16.5%
That year, operating loans from Farm credit hit a max of 22% for a few days, most operating loans were 15-17%
Jimmy Carter was President.