As from April 2013 my Journey in Investing is to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

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"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

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Thursday, 20 January 2011

Keynes on the Rational Savers

Read? The Psychology of Money

After knowing the psychology of money, it might be interesting to know the next topic - the psychology of rational savers by Keynes. (John Maynard Keynes, 1st Baron Keynes, CB was a British economist whose ideas have profoundly affected the theory and practice of modern macroeconomics)


To build up a reserve against unforeseen contingencies.


To provide for an anticipated future relation between the income and needs of the individual or his family different from that which exists in the present (old age, education).


To enjoy interest and appreciation – because larger real consumption in the future is preferable to a present smaller consumption.


To enjoy a gradually increasing expenditure, since most people look forward to a gradually improving standard of living.


To enjoy a sense of independence and power to do things, though without a clear idea of definite intention of specific action.


To secure a capital mass to carry out speculative or business enterprise.


To bequeath a fortune to others.


To satisfy pure miserliness. (Createwealth8888: This one is really bad and such person does exist in real world)

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