this post was submitted on 28 Jul 2025
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And they'll stay there if they can't save up any money.
If the expiration date is 25 years? 50 years? 100 years?
Most likely you'll be getting the older bills that are close to expiry if you're poor. It doesn't matter how much time they're given when they're minted.
If they spend at around the equivliance of at new minted bill and youre not trying to save them, what does it matter?
If you are trying to save youre not keeping hard cash youre investing it. So then we would see a lot more investment spurring on growth.
That's the problem I'm currently addressing, isn't it?
The general recommendation for savings is to first create a sufficiently large emergency fund. This is meant to cover things like sudden medical bills, repairs, and other things of that nature that can't wait. This needs to be quickly accessible, so it rules out GICs. I'm guessing a plain savings account would count as cash that can expire, so that's out. That leaves us with bonds and equity. Both have a fair amount of volatility. This isn't a problem if you have enough money because everything trends upwards in the long term. If all you have is $500 saved up and you need to draw from it during a market downturn, you've probably just lost $50 of your hard earned money. That's a huge amount when you have so little. If you have $5k and you lose $50? Whatever, chump change.
Secondly, rich people definitely do not hold on to plain cash. The vast majority of their wealth is going to be in some form of investments, so if this is meant to prevent wealth concentration, I don't see how it'll manage to take anything away from them.