6 thoughts on “ow”

  1. While still in university, I learned that funds deposited in any of our banks are guaranteed up to a maximum of $60,000. I havn’t heard that that amount has been increased — I will have to ask my bank next week. I’d take our system over the US or Britains any day.

  2. Last time I checked, it was $60K per account. So if for some reason you have more than 60K in cash lying around, split it into two or more accounts so it’s all guaranteed by the FDIC. If I had more than 60K in cash lying around, well, I’d be in Paris…

  3. So, 30 years ago, we were guaranteed $60K per account. At 2% inflation over just 20 years (1.02 raised to the power of 20) would be $60,000 * 1.4859 OR $89,157. I think it’s time for the guaranteed amounts to be increased to about $100K. Even at that, it is obvious that $60K 30 years ago would do a lot more for you than $100K today.

  4. Just did some googling. The CDIC (FDIC is American) covers savings up to $100K. Which will get you a burger, fries, and a chocolate shake if you’re lucky.

  5. I’m pretty sure if I looked up the actual inflation rates for each year produced by Statscan over the last 30 years, it still wouldn’t reflect the difference in the cost of buying a house. Furthermore if you took the percentage spent on rent/mortgage, taxes & utilities 30 years ago versus today, you would see we spend a bigger percentage of our pay cheques on housing JUST AS Loki has stated.

    Still the updated figure from cousinlexi ($100K) in CANADA does help prevent what Allegra refers to as dumbassedness — the panic of people rushing to take their money out the bank could actually cause the bank to collapse (in US & Great Britain).

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