Forget Mattresses – Baby Boomers are Putting Money in Safes
My parents never put their money under a mattress, but I do know some people of that generation who did. They lived through the Great Depression and lost money in bank failures. So they were not about to trust a bank.
Today we don’t have the same concern about banks -the FDIC says it will protect money in bank accounts, but many people are still nervous. And nervous people do strange things.
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The sale of safes is booming, as people look around and decide that they can’t risk their money in the market, and the interest rate on …read more