I think there is also inflation fear and a understandably low desire to try and save/invest. I know a few people that just had to start working again because the money they had coming in for retirement was not enough for what they thought was their lowest acceptable standard of living.
Its not hard to see with inflation above return on most safe investment vehicles (GICs paying 4.5% max with inflation at 5%) that people don’t see the point.
orrk@lemmy.world 8 months ago
it’s mathematically impossible for any long term investment vehicle to payout more than inflation, unless you get lucky and happen to hit the Apple stock.
M0oP0o@mander.xyz 8 months ago
Sorry but by that logic there is no point in any investment mechanism. Historically GIC rates have been the oposite of what you claim www.ratehub.ca/blog/the-history-of-gic-rates/ . For example in 1995 GICs paid 7.1% vs the inflation rate of 1.7%.
I think the odd position that it is “mathematically” impossible to have any expectation of return is indicative of our messed up system.