I am frequently asked why I recommend certain financial moves over the more accepted moves and in most of those instances my answer is ‘the big g” greed. When it comes to financial institutions, especially banks, we tend to forget that they are a business and do not have our best interest as their aim. Fiduciary behavior is legally compelled by law, not just by custom. A case in point is the current circumstances in present day financial markets. The stock market has plummeted since last year and today people have taken their monies out of stocks and placed them in banks where interest rates are at about .06%. Because there is so much liquidity the largest banks are reaping what I consider excessive profits compared to their depositors. In trying to acquire new customers, internet banks are offering (based on deposit size) rates as much as 4.75%! The “financial consultants” are all but a few not mentioning I-bonds at 6.89% because they cannot earn monies in placing them. The Mathmatecum is presently earning at 6.89% rate.
BIO
In 1954 my family and I made a huge life change – we moved from Paterson, NJ to New Milford, NJ! Not to another apartment but to a house in a tract development. Before I begin those years and how they unfolded I must recount one of the coincidences that have filled my life. When I moved to Hilton Head Island, SC I became friendly with a great guy named Gus DiBiasi. He was a fellow member of the Islands Unico Club and we both loved fishing! Unfortunately, both of us suffered from sea sickness so he and I only fished from land. I took Dramamine and went on boats but Gus never. Like most fishermen when the fishing was slow, we had lots of time to talk. I found out he was from Brooklyn and like me he summered on Staten Island, NY! Though I didn’t know him then I was friendly with two of his female cousins! What a small world. If that wasn’t enough, I found out that he had an aunt who was a Salesian nun who was my sixth-grade teacher: Sister Katherine. Most would say coincidence, I say it’s more than that and in time I will expound on that!
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JU
