by Jeff D. Opdyke
The Sovereign Investor
When I was a kid growing up with my grandparents, I’d head to Louisiana National Bank with my grandmother every few weeks on a Saturday — always on a Saturday — and I’d stand quietly behind the wooden counter while my granny moved some amount of money into her Christmas Club account.
I just googled it and found out some banks still offer those accounts today. Having grown up with lower-middle-income grandparents who worked as a tire salesman and a purchasing clerk, I fully understand the rationale behind these accounts: forced savings so that you have financial resources at a more important point in the future.
That’s an apt strategy today, though not for reasons anywhere similar to why my granny was saving…