Only money makes money?
Throughout my life I have read stories of how the rich pull off fantastic deals and become even richer. They get involved in huge takeovers, buy out ailing companies and make incredibly successful investments. My father used to open the paper and read about these events and use expressions like 'you see how you need money to make money?', or ?only money makes more real money!', or 'only the rich can make money!'. I hated them. So how does one get rich, I used to think. Somewhere there had to be the first rich person, how did he do it? He started with nothing.
I just received a call from the bank to say that a savings account I have reached maturity and all the money moved automatically into my current account and can I please tell the bank what to do with it. They are sure I don't want to leave it there sitting idly and doing nothing. I dropped everything and raced over to the bank. I was sure I would be greeted by a smiling teller with a string of investments ideas. She was smiling but it ended there. She had no suggestions for me and neither did any of the other tellers in her vicinity. The stock exchange is in the midst of one of its hysterical yo-yo performances, interest rates are on the floor, so much so that the bank pays no interest at all on daily deposits. I managed to squeeze out a two percent interest rate for a weekly deposit just to give me time to ask around and see if I can find some good investment advice.
So the 'money to money' myth is not true after all. Here I have money and nowhere to put it where it will work for me and make more money for me. A ludicrous situation.
