It's a bit like my grandparents who used to have cash under their mattress all of the time; after living through the depression, they used the bank sparingly! Perhaps people are afraid to "lose" their money through investing?
I found your post because @karamyog featured you in an entry for our Pay it Forward contest where I'm one of the judges. We would love it if you joined us with an entry of your own next week too!
I understand your grandparents reasons, they lived through one of the hardest times in US history, I also remember my grandparents scraping every little bit of food out of containers before they threw anything away, as I grew up I asked them why they did that and they told me it was just a habbit after living through those tough times. We have been lucky not to have gone into another depression and we have been close, there are new talks about us going into another recession soon! so there is a reason to be concerned about finances. The new recent recession forecast is being widely talked about hopefully we don't realize another one, but as time passes it looks like we unfortunatley may be headed into another one soon.
I hope you're wrong about that, but it does look like the US especially is nearing another recession. Perhaps our grandparents were on to something :)
We’re supposed to witness another rise in interest rates before the end of the year, I keep seeing articles regarding our US housing and real estate market warnings from Wall Street stating there could be a halt in that industry a major indicator to watch
ah good to know @calastinone, thanks!