The Epidemic no one wants to talk about!

arsonistsays (36)in #money • 8 years ago (edited)

A Simple Analysis On Why Banks Suck

There is an epidemic taking over the world that no one wants to talk about.
It's actually one of the leading causes of

Suicide
Wars
Depression

and Still we are scared to talk about it, it's called Financial Illiteracy.

check out these tidbits of information.

76% of Americans live paycheck to paycheck
50% of Americans have no money in savings at all
60% of seniors have less than $60K in savings.

It cost money to eat, it cost money to live, it cost money to survive.
Ironically, school won't ever teach you a thing about money.
You took a finance class? When was the last time someone taught you how to retire a millionaire with just $4 a day?
When was the last time someone taught you that investing you money in the bank is a 100% GUARANTEED, GARANTEEEEED route to go broke.

Check the math out.

The price of things go up 3% a year, its called inflation.
meaning if something cost $1.00 on Jan. 1St
at the end of the year it will cost $1.03

In the bank your money grows about .03% a year
that means if you deposit $1 on Jan.
at the end of the year that $1 would have grown to $1.0003
(unless you are a platinum member at Bank of America, it would be $1.0006)

Every year your money sits in the bank it loses its value by 2%

If you had a Million dollars ($1,000,000) in the bank, you just lost $20,000-$30,000 on a safe "investment" called a "bank"

Rule #1 of investing, DO NOT invest money when you are guaranteed to lose
why don't rich people invest in banks?

Every time we deposit money in the bank, they take that money and loan it out at a MUCH higher interest rate,
and pay us almost nothing, then they charge you 4% when you want to borrow that money.

That's not all, the Banks use this thing called "FRACTIONAL LENDING"
to turn that $1 you deposited, and "clone" it into many dollars, this way they can lend that $1 out to multiple
costumers simultaneously, making 4% every time they lend it out, while we continue to lose money.

Hmmmm....

Maybe that's why banks spend over $17 billion a year in advertisements trying to convince us to pay them, so they can become rich while we go broke.

The majority of people work their whole lives sacrificing their

Time
Health
Youth

So they can one day retire and live the life they want.

Why not live life on your terms, getting paid what you want so you can do what you enjoy?
Unrealistic? Yeah... That's what the majority would say. Which is why it will always be unrealistic
for them, DON'T be the majority.

You have to start with the end in mind. If you don't want to live like the majority, then you can't keep doing what the majority does. It's not gonna be easy, it's not gonna get done by itself, and no one is gonna do it for you, but it CAN be done!