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Tom Riach
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Tom Riach   My Press Releases

Granny's Piggy Bank Syndrome

Published on 4/14/2014
For additional information  Click Here


Granny's Piggy Bank Syndrome” or “How One Elderly Lady Out-Witted the Worlds Finest Financial Brains!” is the 19th in my 'Wealth' series of original copyright Press Releases sent from my happy home in the sunny south of Portugal.

Wake Up 2 Wealth

My Daily View Of The World!

The term “Granny's Piggy Bank Syndrome” I coined after my own grandmother's inherent prudence with money. I'm happy to report that I inherited the trait, I'm also an Aberdonian - A powerful combination! Small wonder then that I found my vocational niche in the world of investment and savings and business advisory work.


As a very young child my parents would take me, my sister and my two brothers each weekend to visit our Granny. Grandad had been a ship's captain plying the China trade route at the turn of the 20th century and their house was an Alladin's cave of exotic paraphanelia from the Far East. There were carvings in teak, ebony and ivory, exquisite silver artefacts and fine hand-painted porcelain china as delicate as gossamer, all lined up in beautifully hand-crafted armoirs and cabinets. These items made beautiful decorations but they were also Granny's investments, some of which would help fund care, medical and living expenses in later life.


POWER POINT - “Good quality investments held long term preserve capital value and create income.”


Take my word for it. I'm not the kind of guy to mess about. 

Granny's Piggy Bank Syndrome

That's me on the right, on stage at Vilamoura Casino presenting awards in my capacity as consultant to a major leisure and tourism company.




In one cabinet Granny kept a collection of impressive Chinese dragon-decorated pots with lids and it was in these that she squirreled her money. These were her Piggy Banks. She had one for each family and household expense or saving. Thus one pot held the gas money, another the electricity cash, one the milk money and another enough to pay the week's groceries and so on. Only when enough money had accumulated to meet a particular expense was that item then purchased or paid for. There was never any borrowing. Larger items of capital expenditure, major furniture purchases or holidays say, were saved up for and paid cash in the same way.


POWER POINT - “Saving is the route to riches, credit the road to ruin.”

In addition to all the afore-mentioned pots she also kept four special 'magic pots', one for each grand-child!!


At the culmination of each visit when it was time to put away the Victorian era bagatelle board with the spring-loaded firing plunger and glass marbles which kept us children amused and the adults deranged, myself and my sister and brothers would line up in front of Granny. In turn she would ask each of us if we had been good. The answers were always 'Yes'! Then she would ask in what way had we been good. I remember once telling her that I was good because I had caught a spider and was going to pull its legs off but then decided not to and let it go. In other words my good deed was to not perform a hideous one!

But, as always, she smiled, patted me on the head and gave me …. a silver sixpence (yes I'm that old)! Then however she would ask, “Do you want to take the sixpence to spend or do you want me to keep it for you in your magic pot? If we put it in your magic pot then, at the end of the month when you have saved four silver sixpences the fairies will come and leave an extra silver sixpence for you.” We always chose to leave it with her, encouraged not only by the prospective magical arrival of a further sixpence but also by my mother's threat of a 'clip round the ear' if we didn't!


POWER POINT - “The prospect of gain and the fear of pain are each powerful motivators!”


So, as the month-end approached the excitement rose. Would the fairies visit and leave their magic gift? Of course they did, they always did. In fact I was thirty-four before I finally realised that there were no fairies … but that's another story! So there was I at the the tender age of six earning 25% per month interest on my savings and all I had to do to earn it was to visit Granny, say 'Yes' to being good and not mutilate spiders!


Alas, I cannot always point clients to gains of such Grannyesque proportions but I can urge that they act like her, keep things simple and follow her prudent example. Her treasures from the Far East helped her to preserve the value of her capital and to create income but without exposure to un-necessary risk. No less a person than Warren Buffet, the world's most wealthy investor, employs just this philosophy. The Sage of Omaha, as he is known, buys only good quality stocks, holds them long term and reaps the dividends they yield.


Granny would most certainly approve!


I live and 'work' in the sunny south of Portugal. Need I say more?

Granny's Piggy Bank Syndrome

My Office In The Algarve

I hope you enjoyed reading about ”Granny's Piggy Bank Syndrome” and found it informative/entertaining. To learn more or to get in touch with me  please visit me on my website at WAKE UP 2 WEALTH.

See you there! Regards, Tom.


© Copyright Joseph T.Riach 1998-2017. All rights reserved.


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