Money should expire, amirite?

15 year old take. Much of ultra rich people's money is in assets and not liquid cash or even in the bank

by Anonymous 2 years ago

Yah, someone explained to me that you actually lose money if you keep a large amount of cash in the bank or under your bed. If you kept $1,000,000 in your savings account in 1990, then when you go to take it out today, it's still almost the same.. except that $1M buying power then vs now is different. It didn't grow with the inflation. If you spent that $1M on a piece of property in 1990, then sold it today, that property won't be priced the same as before, it'll be priced to as what it's worth right now.

by Anonymous 2 years ago

use it or lose it!

by Anonymous 2 years ago

Rich people don't have rooms full of money like Scrooge McDuck. It's all tied up in investments and assets.

by Anonymous 2 years ago

Meh. :(

by Anonymous 2 years ago

Someone introduce OP to inflation.

by Anonymous 2 years ago

Inflation incentives spending money or investing over saving money.

by Anonymous 2 years ago

I can tell that you're terrible with money.

by Anonymous 2 years ago

You do understand that most rich people don't just have a stack of cash sitting under their bed for years and years, right?

by Anonymous 2 years ago

How would you make money expire?

by Anonymous 2 years ago

You should read a book on economics, specifically monetary policy.

by Anonymous 2 years ago

Horrible, horrible take

by Anonymous 2 years ago

Water should kill you when you come in contact with it (yes that includes the water in your own body)

by Anonymous 2 years ago

This is already kinda true for regular people. Inflation destroyes value. Rich people don't have massive stacks of cash lying around. In my country, if you use your money to buy a house, the land and the house above it its always gonna be more valuable with time (most cases)

by Anonymous 2 years ago

Interesting idea, but... Lemme just tell you, as someone who is pretty darn wealthy, what that will incentivize me to do. I will buy and buy more property, which I do not want to do. I don't really want to force others out of the marketplace and out of home ownership because I want more instead of less owners of property. BUT, if you make it so that I have to choose the best place to allocate my capital and give me an absolute time limit, then I am going to hoard vacation properties instead of cash / stocks. Let's not do this, please.

by Anonymous 2 years ago

Are you also using your capital to fund municipal projects? Either by donation or buying bonds? How many park benches have your name on it?

by Anonymous 2 years ago

Actually a number of them do, and I'm for sure in favor of local municipal projects. I'll likely support a school library in the next few years, so hoarding a bit for that. But if your idea got traction and I was forced to use money by a certain time, I would not be able to pursue longer term goals such as that.

by Anonymous 2 years ago

In theory this sounds like it would work but the rich would definitely sneak around it and the poor would be even more screwed

by Anonymous 2 years ago

That's called the discount rate

by Anonymous 2 years ago

Rich people's wealth isn't liquid. It's tied up in business ownership stakes and other assets, which they use as collateral to get loans whenever they need liquid capital. That is how they stay rich.

by Anonymous 2 years ago

It sort of does. OP, google inflation.

by Anonymous 2 years ago

Dude's advertising inflation

by Anonymous 2 years ago

OP think about this for more than 30 seconds and you'll realize how incredibly stupid it is

by Anonymous 2 years ago

And what of people saving for their retirement, or for a rainy day fund?

by Anonymous 2 years ago