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TIL my coworker in Mississauga keeps $8,000 sitting in a checking account because she's scared of locking it up in a GIC
She told me at lunch that her dad lost money in the 2008 crash and now she won't touch anything she can't withdraw same day, which got me wondering how many of us are quietly eating inflation because of something a parent went through.
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derek_green36d ago
Honestly I used to roll my eyes at people like her, figured just stick it in a GIC and forget about it. Then I watched my own mom keep 12k in a plain savings account for like six years because my grandpa got wiped out back in the day. She missed out on maybe 3 or 4 grand in interest just to sleep at night. Seeing her face when she talks about it made me get it. Peace of mind is worth something real, even if the math says otherwise.
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