30 • RU BY, WILD ING & SWANSBURG My friends and I saved with the mistaken belief our rs ei xt ti rye- fmi veen, tw we wo uol ud l db pe utthoeu rs af umned. sWi net oassas fuemr iends, t rounmc ee nwt se a hn idt btheedyondeidwiitnh ist.toScukrse,, tbhueyt wouldn’t grow as much in CDs as over time, we could still get mpreoatnecintegdfu. l growth on our funds while keeping them We were very, very wrong. The Past and the Present TWhhi ne nk Ib wa caks tion tmh ey 1t h9i7r t0i se sa, nI do p‘ 8e0nse. dP ea rchhaepcsk yi nogu awc ceor ue nl itkaet mt hee. lmo cy acl hbeacnkks. (I tr ewma es ma bbears iwc hc he en c ykoi nug haacdc ot ou ndt r, iav ep ltaoc et ht eo bd ae np ko st iot dtoepworsititeaacchheecckk?t)oapnadypaaybimll?y).bills (remember when you had m ch y e c b F k i r l l a o s n m . d I a t p h l u w is t a i a y t c s i c n w o t u a h n i e t t e , m d I a u w il n a . t si l vtehrey l ac satr edfauyl pa bo os suitb wl e ht eonwIrpi taei da This odd behavior wasn’t because I was broke; I had enough money to cover my bills. CInan19yo8u0,gmueysschwehcykiIndgidacthcoisu?nt was earning an interest rate of around 18 percent. Eighteen percent! I wanted to keep my money in the bank and earning that interest as long as I could. m e a Inti’ns ghf aurl dg rt oo wr et hm ei nmcboenr sbearcvka twi vhe evnemh ioc lneesy. Icto’ su ljdu satcnh oi etv ea rseinaclietythaeneyamrloyr1e9. 8I0nste. rest rates have been steadily falling In response to the 2008 mortgage crisis, the Federal Reserve pushed rates even lower to stimulate the economy.
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