Thursday, March 15, 2018

Why aren't we educating our YOUTH about MONEY?

Have you ever wondered why we were never been taught the TRUTH about MONEY? We were always taught to put our money in the bank and don't touch it, just save it. Sounds reasonable. We were always taught that we had to have good credit and to get credit cards. We have been lulled into believing that banks are our friend and that we have to borrow money in order to get what we want. We have become a debtor nation. WE HAVE BEEN LIED TO. Have you ever heard of "Fractional Reserve banking"? For every one dollar that you and I deposit in the bank, they can lend out 8-10 dollars using our one dollar as collateral. The Banking industry makes around 2600% profit for every single dollar that you and I deposit. No wonder we have always been taught to put our money in the bank. There is NO reason why we can't keep for ourselves the interest that we pay to banks and financial institutions.
     Have you ever thought about saving your money first then lending it too yourself and then paying yourself back including the interest you would have paid to a bank? First you need to find a safe place to put your money where there is no risk. BANKS ARE NOT IT! Putting your money in a bank only makes the bank money, and they don't share it with us. First of all, you will lose 3-4% of your money due to inflation, secondly, you will lose "Lost Opportunity Costs", or in other words you will lose what you could have made had you put the money somewhere to earn you money. Banks or rather the FDIC only insures your money up to $250,000, anything over that amount can be lost if the bank goes out of business. So where is the safest place to put your money you ask? In a Whole Life life insurance policy. In the last 150 years, no life insurance companies have gone out of business, a few have merged but none that I am aware of have ever gone out of business and burned a policy holder. There is little to no risk. Besides being "risk free" there are guaranteed returns on your money. They are NOT tied to the stock market, rather backed up contractually.
     To find out the rest of the "Truth About Money" contact Marlon at 702-203-5954.

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