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OK, I'm old enough to have lived lived through these times (not that I had $ to invest). The 18% was back in the '70s I believe. I googled and the money market rate in '82 was about 12% and over the next 8 years it averaged about 9%. So according to the "Rule of 72s" if you put money in a money market fund in '82 and left it there, it would have taken about 8 years to double it (taxes excluded).
Caveat: I'm a lawyer, not an accountant. But I've come to aspire to the investment philosophy of Groucho Marx:
"Groucho, how do you invest your $?
I buy government bonds.
You'll never make any money doing that!
If I have enough of them, I will."
posted by 184.153.14...
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