TIL my neighbor's idea of a 'diversified portfolio' is a jar of quarters

I was helping him move a couch in Omaha last fall and he pointed to a huge glass jar on his counter. He said, 'That's my emergency fund and my retirement, all in one place.' I asked if he meant a money market account, but he was serious about the literal jar. He said he adds about $20 in change every month and it's 'safer than the stock market.' Has anyone else heard a take on personal finance that just made you stop and stare?

4 comments

4 Comments

lilya761mo ago

My uncle had the same "safer than the stock market" view with his coffee can full of cash. I just showed him a basic savings account statement online. The tiny bit of interest blew his mind. He moved the money the next week. Sometimes they just need to see the numbers.

uma_williams1mo ago

A picture of the compound interest graph did it for my dad.

elizabethmason1mo ago

Yeah it's wild how much trust a bank screen can build. @rose_reed's story about the CD is spot on, that visual proof changes everything. I wonder if part of it is also about control, like they finally feel like they're making a choice instead of just hiding money. Seeing the numbers makes it feel like a real plan, not just a scary risk.

rose_reed1mo agoMost Upvoted

Took my grandpa to the bank once because he kept his social security checks in a drawer. The teller showed him his balance on the screen and then calculated what he could have earned in a simple CD over just one year. His eyes got real wide, like @lilya76 said about her uncle. We opened that CD right there. He just needed to see his own money growing, even a little, to get past the fear.