30th
March
2023
Unreasonable promises
Dear members of the banking industry. Recently, you have been giving me a lot of directed advertising, letting me know that I can watch my savings grow, if I leave my money with you. Please, colour me incredulous. I live in Canada. Since the offer on a savings account has not changed in a meaningful way for the last decade, I fear that your writers are projecting growth beyond your means. Somehow, based on my understanding of compound interest, there are not enough years left in my lifespan to actually make a significant difference in my bottom line. Yours, I cannot say. Please, let me know if I have misunderstood your good intentions.
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