My boomer-minded mother still has the idea in her head that you can "save money" in this day and age. I'm just like "let me know when money printer stops going brrrrrrrrrrrrr".
I have to admit I'm the same "Oh, but I have X in my bank account!"
Sure ... 1 year from now I will still have X in my bank account. But I cannot buy the stuff I could buy 1 year ago for X.
But I still haven't really understood / internalized it. There's the small part in my brain going "But what if you're wrong!" So be nice to your mom for falling into the same trap. It's hard to escape.
All that money is being printed.
Put your money in assets.
My boomer-minded mother still has the idea in her head that you can "save money" in this day and age. I'm just like "let me know when money printer stops going brrrrrrrrrrrrr".
I have to admit I'm the same "Oh, but I have X in my bank account!"
Sure ... 1 year from now I will still have X in my bank account. But I cannot buy the stuff I could buy 1 year ago for X.
But I still haven't really understood / internalized it. There's the small part in my brain going "But what if you're wrong!" So be nice to your mom for falling into the same trap. It's hard to escape.