Why You Shouldn't Use A Bank

[@RyanScribner]

Author of "From Side Hustle To Main Hustle To Millionaire" (Available at B&N, Amazon, Library) My Book: sidehustlebook.info

[@chromographic]

Overall guys 1. Firstly have a emergency fund (money that can last you up to 3-6months) 2. Start investing up to 20% of your income (you can start at 10% and work your way up overtime) 3.Start a business ( Be a producer not a consumer) 4.Go into real estate Go get started 👊🏾

[@manufacturedfracture]

Modded for young beginners. ] Learn and get into realestate ] invest 60-70% of your income in a diversified portfolio (bonds, stocks, appreciable items, real estate) ] get stable amd have a 6-12 month emergency fund. ] own a small business (you work there or monitor the employees personally) ] Buy and sell business's. (Big business's where you may never have to see a single lower level employee.) (You are forever financially stable for generations to co e as long as your offspring learns well.)

[@manufacturedfracture]

I think its better to be broke even homeless at the beginning when youre already paycheck to paycheck. Investing is probably the best bet after real estate. You can buy a house with someone else's money and never even touch your bank account. But even then you can buy a house for even $100

[@rbketngam]

Lol dave Ramsey?

[@channirichardi3369]

Tevin Carter very smart!

[@kidnpigtogether]

Great advice, any thoughts on passive income besides real estate, ive started a vending machine business but always open to advice. Thanks in advance.

[@travelingkaspersworld4096]

Keep in mind that when you "deposit" to a bank, you are actually lending the bank money. Same banks who then may or may not lend you money. (They will charge you fees....interesting)

[@christinesmith1803]

Yes when you wont a certain amount out cant get it right away huh 🤔🙄

[@gabriellamashiah3965]

Yep!! Terrible TRAP..I feel like we the Bugs ( Food) while their the Spiders

[@heyitsthatoneguy91]

Yea. And then theyll want a LOT more than the interest they pay you

[@StacyFrancis94]

Basically they get to fuck us over and charge us for it so they can be rich because a bunch of stupid ass people like our society pushed the agenda of opening up a bank.

[@marcduchamp5512]

Money rarely stays in my bank, it goes straight to bills

[@frankdavidson9675]

your prob is too bills back off to save before you wait too late in life you can do it i did it worked for 2 big mistakes you can make arly buying an ins policy???????? runnup debt on visa card both (fatal) instead of ins buy some stock with dividens also never buy more that you can pay back you get hooked on those credit cards there goes 1/4 your money as int think down the road about 40 yrswhat will you have bad thing about ins youhave die to get anthing out t hat stock will snow ball 40 50 yrs down the road mine did im in good shape in retirement been retried 35 yrs ps payroll savings is the way to go

[@ericcastle7296]

True

[@fallback8314]

@marc duchamp, people who make these videos seem to forget this.

[@leleg3046]

@@frankdavidson9675 especially, now adays, its hard to save a penny 🤣

[@bryceharper446]

And they tax it until it’s gone

[@thomascrown5953]

Unfortunately, since this video was made, Betterment got rid of their "Smart Saver" accounts and replaced them with "Cash Reserve" accounts which only earn 0.30% APY, which is obviously no better than many banks.

[@williambutler1955]

I heard the complaints. Start it at 6:20 y’all. ✌🏿

[@Dust4Vomit]

Start the 11 minute ad for the sponsored product at 6:20

[@josephvalentine7]

Way to go champ

[@williambutler1955]

Joseph Valentine right on ✌🏿

[@SourGrey]

💴💴💴

[@randomreviewsAR]

The real MVP!

[@dinydianenichols9192]

Never heard of this way of protecting money, but have been worried that the government may fail because of tremendous spending by government.

[@bryceharper446]

Exactly me too. Cobb-Frank act is VERY SCARY. GO down that RABBIT HOLE

[@jonniejam-shovel6405]

@ DINY DIANE NICHOLS, it's the horrific scale of borrowing in the US and that UK, that will carry us back to 1929. I believe this time, it certainly will be game over for us all. Kind regards.👍

[@Emilis2023]

I was good with saving money and had built up over 90k in my checking account (not a bad sum for a high school teacher). About a month ago though I've been slowly moving it over bit by bit into investments, and dang... I realize now I'm going to be retiring a heck of a lot earlier than I was planning!

[@madambutterfly7513]

Teachers make good money, even tho they complain they don't!!! Plus all the benefits, holidays off & vacation with pay! The union makes sure their little darlings are protected

[@Emilis2023]

@@madambutterfly7513 I don't remember what this was about being a two year old post and all, but it doesn't look to me like i was complaining about anything.

[@paulaj786]

What are you investing in

[@marylawrence7234]

I'm scared now to invest, I'm old already, I finish with stocks which good, mutual fund!!? I want moderate one,, I'm retired no money coming?

[@kquo1784]

Ya, but now you’ll own nothing and you’ll be happy.

[@LorriSanga]

In Australia, banks offer up to 2.75% on simple savings accounts as long as you deposit at least $250 p/m. No transaction or account fees.

[@el2203el]

Yeah was 3 years ago, so what about these days ;-)

[@LorriSanga]

@@el2203el How times have changed.

[@kieuoanhk14nab]

ING offer 4.30%a.n now, but at least $1k deposit p.m

[@-Ace-of-Spades-]

Dad always told me that keeping cash 'asleep' in the bank was not a good financial move but I certainly didn't know to what extent.

[@nshappe]

The point behind personal savings is to have an emergency buffer. It's a place to store a small amount of money that you have immediate access to in the case of an emergency. This video says it takes several days to gain access to the money in an emergency. There are far better options that allow virtually immediate access to your money AND you can invest it where you choose. Robinhood for example is a brokerage account with a debit card. You can sell off investments and use your card in an emergency and you maintain complete control over your money.

[@jorgehuerta27]

If you want a place to store a small amount of money, dont use the bank. Put that shit under your fucken mattres

[@thesmartbudgetchannel2940]

👍

[@CrypticCobra]

if you mean put it in the stock market, you risk drawing from it in a bearish market at a rate lower then you bought in at. The point of emergency funds are instant access with a guaranteed value. If you mean putting it into bonds, you are doing exactly what he just said to do.

[@brianstaples4057]

I have a Penn Mutual retirement account through Paradigm Life (501K) More option's than any other Investment firm. It's like a living life insurance policy that you can borrow and payback $$$ unlike 401K plan that holds you to payments or payoff. Penn Mutual retirement payments offered during retirement, then it becomes life insurance when you pass while earning interest. Monies are protected from inflation and government grabs. Been searching and organizing for over 2 decades and It's the best I've found. Hoping to retire early. Yahoo!!!

[@whatthef911]

Gold and silver coins hold their value are safer than bonds and even appreciate slightly every year. Gold and Silver are also known as kryptonite to bankers.

[@bryceharper446]

Yeah but try to sell it in an emergency. 🤷‍♀️

[@AUSTIN-ss2zd]

Bitcoin is more

[@TheFeintOfHearts]

I agree that short-term bonds offer a higher yield (and probably safer) vehicle than a bank account. However government bonds are interesting in that they literally rob the future to pay for the present. There are only three ways that a government can raise money: it can collect money through taxes, it can create money (causing inflation), and it can ask for loans with promises to pay back more in the future (a bond). This means that buying a bond virtually guarantees that the government will either raise taxes or inflation in the future to pay back their obligations. In a very real sense, the bond that you buy today guarantees that your future will be worse off, either because your taxes will go up so the government can pay back your loan, or because your money becomes worth less and less as the government creates more money to pay off its obligations. Most people are so focused on the immediate 2% return that they neglect the 10,000 foot view. I'm not saying you shouldn't buy bonds -- quite the contrary, they are an important financial instrument and people should be aware of their benefits. But also be aware of some of the negatives of bonds as well. Just make an informed decision :)

[@basook6116]

I agree, banks do make more money with your money

[@Dani69Studios]

Everyone makes more money with your money, that's the whole purpose of investing.

[@basook6116]

I agree with you, but making money by cheating or defrauding your investors in expense of other peoples' money is unethical. For example; Fraddie Mac and Fraddie Mae.

[@sleeexs]

They lend out your money and then lend out more money they don't have. Banks don't make money, they lend money from the fed. The US dollar is the reserve currency for all banks.

[@cliffordhussey8549]

Prefer to use Vanguard and Fidelity Short term investment funds instead of bank savings. Both have check writing privileges. Fidelity also offers cash management and banking services. Also use credit cards with great cash rewards. Local credit union has a 3% return on checking accounts up to $25000. With some ATM use conditions. You are right about banks. They have lost their value and offer no return on their accounts. I am not a fan of Better,ent.

[@timelessvickdamone]

Not only that but the bank makes money off your money then has the nerve to barely give anything to you for storing ur money with them 😂 ignorance is bliss

[@nopeasantry7909]

Ignorance is not bliss. You got to know

[@ssanc6]

That's why you save all your money at home even though you live a not so good area

[@thomasokeefe3081]

@Mooniel My 2 yr. old German Shepard does the job just fine. Come and get it..LOL

[@EshhhaBenjamite]

Just heard they make 14 billion a year in overdraft fees😐

[@mkingadiffernce]

@@EshhhaBenjamite yep that's crazy

[@joshuadelaughter]

The other option nowadays is to keep your money in an online bank, such as Ally. Many of them will give you around a 2% annual return.

[@everafter2611]

This is insane. Banks make so much money yet this is what they do to us. They also borrow money from us and never pay us back yet...

[@suzetteroberts9072]

Govt' crashing down... yeah, that is what is freaking me out like our freedom that is slipping away.

[@katfish2516]

The crash started last year

[@WealthyTiffany]

Thanks Ryan. Just to mention if someone did want to stick to a savings account, Ally online bank savings account offers 2%, no minimums, no fees, not a teaser rate. You can set up an auto transfer from your normal checking account.

[@josecarrasco9609]

Three years ago bank gave 2%, what does the bank pay now, inflation is over 6% and climbing …..

[@peteliston2686]

@@josecarrasco9609 best most offer now is only o.5% Feb 2022

[@nyacoustics8373]

I put my money in tape cassettes, 8 tracks and vhs tapes. Never liked CD's.

[@victortaylor7737]

Ur smart.i betcha cause of the durability, some cassettes& vhs are going up in value.

[@pamelanagorr9596]

Do you have a Beta recorder?

[@amonistrong1687]

Thanks! I had heard about bonds but i really needed an education about them. Also, the best part of your lesson was the contrast between the bank and bonds. Its always good to find out what the pros and cons are to investment ideas.

[@krokodilgena9288]

One thing you have to understand and it is very simple-if it is written on paper it is worth the paper its written on. In other words the banksters designed it in a way that regardless what you invest in, you are going to loose it. In this video the guy calls what you have in the bank money. It is not money, it is paper currency.

[@deeandrews7051]

Some people keep a few thousand dollars in the bank in case they have an emergency, like if your transmission goes or other car repairs, your refrigerator breaks, a/c, etc.. I don't want to have to figure out how to cash out of a bond if I need quick cash for emergencies.

[@smarksthespot6260]

Yup I leave $5k in my bank for emergencies ( flights , car fixes , cc emergency etc ) … anything above that gets invested in stocks / RRSP

[@Jason_The_Man]

I think that’s fair. I keep 5 months worth of my monthly expenses in a savings account that earns a very week 1%, but I’m looking into accounts paying more. I think anything above this should be in bonds or invested.

[@rustyshackelford8120]

he says banks are bad and then starts trying to sell you on stocks and bonds. sounds to me like we got another swindler here.The best advice anyone can ever give you is don't use Banks. And stocks and bonds are not any better of an investment.

[@chaitrapollard8869]

770 account.

[@Greenmile.]

So where should we place our money?

[@b__w_4565]

@@johnhix484 you gotta build it slowly but surely so it seems you have no idea what your talking about. Might as well just stash a bunch of cash that will be useless in 10 years right...

[@sw5401]

@Rustyshackleford, man if you don't know what you are talking about please do some research. The guy is long winded but right. If you know what you are doing the stock market is the quickest way to make money. However, if you don't know what you are doing there are Mutual funds, EFT, and a thousand other investments you can get into that are handled by companies. The bank is the worst place to put your money if you are looking for a return on your money. Unless you like being a sucker!

[@madambutterfly7513]

Stocks, mutual funds & bonds are excellent investments if you know what you're doing by researching & studying these investments, it's called educating yourself! My stocks & mutual funds have gained significantly, buying low & selling high if you want to. It's much better than what the banks gives you, pitiful!!

[@masonwilley6807]

Inflation is NOT increased prices - it is the CONSEQUENCE of deliberately increasing prices, as by QE and other means.

[@africaart]

Go straight to the point. 5mins in and he is still explaining nothing

[@lowlandprophets7831]

I gave up after 3 minutes hoping somebody in the comments would say: video starts at..... 😣😣😣

[@Davanillaguerrilla]

He's saying everything you are just not listening. You are losing money by having cash savings.

[@owlcitizen314]

Why don’t you just post when the video starts according to your criteria? Help people instead of complaining

[@uawsux]

yep

[@chipychipz]

heard 5 mins and was like >.> 17 min video

[@victorsvoice7978]

The reason people keep money in the bank. Is to keep it safe. To make sure criminals don't steal it. Banks are crooks too. But people lose their life savings when they listen to bad investment advice.

[@JoeDoe1]

I’d rather have cash in the bank and take my time investing, than having my cash tied up in volatile investments I have no direct control over. Any loss to inflation can be recouped when buying undervalued investments. You’d be surprised by how favorable a deal can be when working with cash. Anyways, this is a complex topic and everyone has to find their own niche.

[@chiphazard7612]

Do you have a more in depth explanation like a video or document, im looking to learning more on that subject.

[@factsmatter1172]

@@chiphazard7612 They mean like buying in cash. Cash deals. Homes under 50k, even mobile homes you fix up, mopeds, motorcycles, cars etc.

[@chiphazard7612]

@@factsmatter1172 got it, thanks!

[@jdavis8631]

Well said.

[@brianburleson3414]

I agree with you 100%, the person that's got a good amount of wealth could be interested in doing this to make more money. The people on an average income are better off investing in a Roth IRA putting at least 15% of their earnings or more will have a good investment within 10 years, My opinion in these times you should have some cash on hand at home close to 5,000 work on paying off all debt and have emergency fund of $20,000 in the bank, remember you are FDIC insured with your bank if there is a financial or global crisis that are government cannot operate neither can a business or a private identity. The financial system we work in involves everyone we're all in this together.

[@matthewlang777]

I wish this stuff was a high school class

[@Grannynan]

It should be taught in high school! Along with how to apply for a job. School should prepare kids for life.

[@AustelGrey]

Wait....you can get 2.25% or better with an online saving account. Why in the world would you invest it in a bond with a lower return and fees?

[@MarkStCyr]

Which online savings account companies are you speaking of Austel?

[@cleanslatemed]

Mark St. Cyr Ally Bank, PNC, and Marcus (by Goldman Sachs) all have 2%-2.35% APY

[@AustelGrey]

@@MarkStCyr I would check the reviews for each bank listed but here you go. EBSB Direct 2.50% MySavingsDirect 2.40% CIBC USA 2.39% Popular Direct 2.36% Vio Bank 2.35% CIT Bank 2.25% Incredible Bank 2.20% PurePoint Financial 2.15%

[@nickandro127]

@@MarkStCyr simple bank is better, no fees.

[@NoMoreLines]

My thoughts were to direct deposit your paycheck into your savings account and then pay all of your bills with your credit card. You can then make a lump payment of the card balance by transferring from your savings account. Everyday your saving account has a balance you will gain interest.

[@danieldesimonedanny1827]

In 2003 I bought a condo here in FL with cash. A bag of 65 thousand in old stinky $20.00s. Sold the condo in 2014 and did very well. Bought my 3 bed home cash here in southwest FL and never touched my bank account. I'm 66 on SS its all gravy now.

[@dominichester]

I took a finance class and there are some savings accounts that do give a much better rate than regular run of the mill savings accounts.

[@brendamelton4704]

Do tell please😁

[@dominichester]

@@brendamelton4704 the best one on the list I see has 2.02% Ultima bank of Minnesota Savings

[@brendamelton4704]

@@dominichester thank you very much. I will check it out

[@joycejean-baptiste4355]

Okay, glad you didn't say put it under your mattress. One bank I had a savings account at ate up my money with fees. I closed it. Thank you for sharing these tips.

[@quentinbishop9578]

Get to the point man. I want to hear exactly where I should be really putting my money at

[@josh7297]

Ikr, but he just wants those SEO points lool

[@jacksmoment]

You know you can skip ahead in the video right?

[@quentinbishop9578]

Yeah i know that. I did it

[@mariagee1233]

physical precious metals. mostly silver ASAP

[@quentinbishop9578]

Noe Garcia thanks Noa I’ll do that.

[@shel629]

Good instructor! Noticed that when the government announce pay increase even with no national inflation that food prices go up, insurance goes up etc and it eats up the pay raise and you usually do not have extra money to save for anything. So I just curb my spending. The merchants do not make more but less. It is the money game.

[@barbaraherda9212]

Great explanation on what bonds are. 👍🏾👏🏾👏🏾🙏🏾🙏🏾 People need to realize it’s debt, and they are the “banker”.

[@XFizzlepop-Berrytwist]

One problem with this video, Inflation is at an Estimated 3%, not 2%. So at best, it only helps cushion the blow dealt by inflation, but not enough to cover it, and even if a rate was found for 3% its just barely covering it, and not adding necessary funds needed to aid in future retirement, living expenses, to live off of, etc.

[@timcampbell4132]

6 minutes in. The young man eager to learn, suddenly became frustrated, hearing the redundancy of the speakers talking points. Fell, knees to the earth, arms raised to the sky, screaming "By the Gods of Mount Olympus! Get to your bloody point already! We get the math! No need to do it a second time!" The young man impassioned by the speakers redundant titillations, screams loudly to the heavens a great roar, suddenly, and curiously, without warning, he explodes into dark matter! Air crackling about him, an ascended scream " AAAAAAAHHHHHHHHHHH!!!!!!"

[@roguerock22]

ya, and don't drink caffeine... :P

[@trunks9296]

ROFL!!! I even noticed the subtle DB Super reference. Classic!

[@melanisetommasi1983]

When can I buy your autobiography

[@sidesw1pe]

Lol genuinely laughed out loud

[@kitsumekat]

Calm down Vegeta.

[@MartinSage]

When I moved to Vietnam the bank offered me 14% interest! But in a year the value of Vietnamese Dong went down 20%!

[@Hugh_Manitee]

Hate when the dong goes down unexpectedly.

[@wealthhacker]

Appreciate the shout out, brotha! 👊🏼

[@gibusdrop8042]

Aw so cute

[@mhma1976]

@@RyanScribner link to video?

[@PiggyPickem]

I didn’t see the link to the video

[@redpoppy3569]

Just subscribe to the channel.

[@546cowboy6]

Everything here depends on a government of the people which now is going south at a rapid rate and will not last 6 months.

[@BO_Riddle]

Information starts at 6:23

[@bite-sizedshorts9635]

Younger people don't know that checking accounts didn't use to pay any interest at all. The banks started giving a tiny bit of interest on checking accounts because of a law. The law says that if an account charges interest, the bank can, if they wish, force you to wait a period of time before you can withdraw your money. Non-interest accounts could be withdrawn at any time, and the bank couldn't make you wait. So, when I was in high school, there was no interest on checking, but there was 4% interest on savings. No bank pays that much now. But they charge much more on credit card interest than ever before. So the banks are making a ton more money.

[@iamcrisyo]

Can i put my money into a Bluray instead of a CD?

[@Chedda3000music]

Cristian Vazquez doesn't matter if you put money in blu ray or cd, the slot is bout same size. Good hiding place for cash

[@Mbrace818]

Put it in a cassette.

[@jojojoanna8749]

lmao

[@manufacturedfracture]

Buy my CD its fire 🔥🔥🔥🔥

[@kidnpigtogether]

Omg, my sides r hurting. It's so corny that's it's past funny. Like I tell ppl, I always want a bald headed woman so I can always see what's on her mind.

[@stalfosgrimm422]

I’m not even 18 yet but I love watching these videos to give me an idea of what to do with my money when I get there

[@reempire888]

woohoo what do you want a G man badge? lol

[@nikkismith9130]

Need to do more studying but thank you. I'm one of those that has money sitting in a checking account 😫😫😫😫

[@Rah-Dollar]

Let me hold ya money for you

[@spudsdj8384]

I invest all my extra money

[@alfredc.knight2737]

Have you considered a Money Market Account?

[@robin9876]

Same with Credit Unions?

[@remington1844]

Great info! My only concern is once you hit a certain amount per year, you're required to pay taxes on your interest you get from these high % savings accounts. It's basically drinking the lesser of two poisons. It's just not worth it to me.

[@michaelargenta3856]

What if the market crashes , then the bonds are worthless???

[@RafaelHernandez-bc7rw]

My local credit union offers a checking account with 2.5% apy.

[@b__w_4565]

Damn nice!!

[@rightwingsafetysquad9872]

Holy crap. The best the unions around me do is 0.15% on savings and $-5.00/month for checking.

[@sammyg.8532]

Here's another reason not to leave money in a bank. No matter how much a person owes to a government institution, be it 10 dollars or 1,000 dollars, the government institution can go into anyone's account and take their money. That's not right.

[@sajuv.joseph6224]

Very informative.. In India we can get around 6% per annum for Fixed Deposits in Banks. So this doesn't apply to us.

[@nickhuysen4643]

I live in South Africa, and the interest rate on a savings account is 5.00% per year, compared to 0.06% in the US!! That's crazy!!

[@nickhuysen4643]

@@RyanScribner It's the lowest it's been in over a decade, sitting at 4.2%, which is great because the interest rate beats the inflation rate!

[@christopherlaing7338]

They are NOT the government, they are corporations masquerading AS the government. A corporation is predicated on profit and sustainability and this is at the expense of the tax payer whereas, under the Constitution, they are public servants and are suppose to be predicated on, serving the Consitutional rights of the people, and until, this, is changed, and fractional reserve banking is abolished, things, will pretty much, stay, as it is now.

[@Einnor084]

Itz seemz, da banksta ganstaz/nternational banking combine, took over receiverSHIP, of da United States of America, n 1933. Da GovernMENTAL appaRATus, we suffer under now, iz a dfacto 1, set-up, precisely da way u dscribe it being set-up.

[@kalfaxplays7899]

i have an account with a 3.35% interest, so its higher than inflation. i think silver and gold is way better than bonds by the way. its more safe over the long term.

[@luciejules4591]

What company is that account from?

[@kalfaxplays7899]

@@luciejules4591 none of ur business, lol

[@mclogan76]

I don’t feel safe giving my money to someone I have never heard of. Could be a scam?

[@Afritunez]

BIIIIIIITcONEEEEEEECT!!!!!

[@olegmedvedovski8146]

@@RyanScribner we was protected in mother Russia and one day all fall on parts.

[@robertsmith6068]

@@olegmedvedovski8146 government guarantee isn't worth much.

[@ralphramirez3671]

The money I have goes to staying healthy. Gym messages chropractic, healthy food supplements etc. Health is wealth. O yea and surfboards and travel.

[@charlesjohnson2475]

That is actually good one of the best things to do

[@hunkydude322]

true don't throw it away on booze and dope.

[@davidbertrand6884]

Oh, YELLIN, Powel, and doomkoff will think of ways to get everyone’s money

[@karenlee1587]

I bought bonds through Comerica Bank (their advisor), he told me the same thing you are saying, within two weeks I lost around three thousand dollars. I called the main office of Comerica told them I wanted to cancel out, got my money back minus a small fee. NOW I DON'T TRUST BONDS

[@29Martin100]

Thanks, I never heard about protecting money in the bank, but this is an option for me to think about, how to invest my money.

[@terristephens141]

Do you have a current video about this same subject, but current day (2021)?

[@ArminKnight]

You talk way too much before you get to the point

[@bign1667]

When does he get to the point?

[@bign1667]

@A Smith what's your point keyboard warrior?

[@doublestack8686]

Wow your not kidding

[@nodmnodm9522]

@@bign1667 lol

[@addyybrown4661]

Exactly

[@RafaelCastro-lv4ir]

I'm a first timer and thank you for your info looking forward to more of your info on how to get the most for your money.

[@aol11]

Here's a stumper, 10 years ago the 50" TV I wanted was $800. Instead of buying the TV I put the money in the bank and today the 50" TV is $359.I now have the TV and $441 left in the bank.

[@whydontyouhandledeez]

10 years ago you wanted a high end product but couldn't afford it, so you waited 10 years and then purchased a lower middle end product.

[@charlieharrison7234]

But never watch the T.V.becsuse your on your phone all the time

[@marcusrobinson9291]

Even if his t.v. is middle end or not he got it for cheaper and middle end or high end (IT'S JUST A T.V. ALL YOU CAN DO IS WATCH IT!😉)

[@csc6110]

Now, that $441 left over will buy the same amount of food $220 did 10 years ago. Sure, tech is cheaper, but everything else has inflated as much as 50% in the past decade. Rent, cars, food, education, etc. But hey, nice television dude!

[@b__w_4565]

@@csc6110 fr tech seems like it’s doing the opposite of inflation...lol

[@all4yeshua641]

Just a heads up... Navy Federal CU has a special CD rate of over 3.00% for a 12 mo term but the max you can put in each acct is $3k. But because I have my main acct plus 1 savings acct for each of my 2 children, I am able to have 3 of those high yeild CDs. Ask your bank or go to NFCU! Side note: our regular checking acct also holds a 0.45-0.55% so while still lower than inflation, still a great rate.

[@ChessMasteryOfficial]

*Life is the art of drawing without an eraser!*

[@mindovermatter56]

Amen!

[@garydownes7035]

Hey what do I have to do to make my comments dark black like you have them?

[@alexdagreat4008]

@@garydownes7035 you put asterisk symbols "*" around what you want bolded :)

[@kitsumekat]

That is the most terrifyingly accurate description of life.

[@charlesbrock5932]

I have another one. "Life is what happens to you when you are busy setting goals."

[@peteliston2686]

Us Bonds now take 30 years to mature plus the IRs taxes you when you cash in ...

[@leehughes1946]

First time ever watching anything about how to handle finances. I have learned so much just in this 1 video. Why don't they teach this in high school? It should be required for anyone to graduate! Thank you so much for sharing this information with us. I just subscribed today. You put everything into such an easy way for everyone to understand and learn. Thanks again :-)

[@genewilliams617]

Welcome to the 20th century. You don't get an education in school, you get indoctrinated into communism. The less you know about money, the better for them.

[@kathleencernetich6243]

They don't teach about money in schools they want everybody to be a worker bee when they get out

[@kathleencernetich6243]

@@genewilliams617 Schools are an institution they program the young minds how they want them to think

[@taralynnhoffmann5831]

You want the government to teach kids how to manage money?

[@pimpsidious]

Even bonds may not be safe for long, once inflation hits even the government may default in the debt. Protect yourselves with precious metal bullions. Good luck guys

[@ibeingsingle3424]

Or just put your cash in a safe place where no one can know where it is.

[@aclown9127]

@@ibeingsingle3424 dude 💀 unless you have a big safe that’s a really bad idea

[@cfconant]

i would focus on getting out of debt and keeping expenses to a bare minimum. If you're saving money you are making money.

[@fineartist7710]

Your is one of the best practical comments here! ...You should make a poster of it and sell it on Amazon for everyone to frame and hang in their bedrooms.

[@TheRECENDEZ1]

How can I get rid of my girlfriend? shes taking all my investments

[@poondaddy9992]

Ghost her!

[@jasonbailes7704]

The problem will fix itself. When your investments and money are gone, she will be too. Problem solved.

[@cowpoke02]

get real boring and depressed ... dress bad ... eat lots of garlic .. they dump you but you dumped them. they think your crazy on top of it . they be gone pretty quick . act psycho say random word things any one runaway even a friend .haha. i got it . be nice to her and good. that do it. haha. things i seen other people do . i wonder why women crazy to me ... guys do evil things to nicest chicks . haha.

[@SIMONLOWE-rh2hm]

There's quite a few options... but I always take the burial in the garden option especially as statistics say that human flesh helps your cabbages grow faster and much much bigger in essence she could become another type of good investment. Hey it saves going down the grocers !!! Look on the Brightside you get to save on your fuel bills as well ;)

[@midwesternmonkey3702]

I got rid of mine by first hiding my wallet and important papers, next I quit bathing and just stayed at home. Took about a month before she abandon my house. First thing I did when she rolled out of the driveway was lock the doors and take a nice long hot shower.

[@coachmarcuslomas8349]

I like KZbin Videos... fast forward a few seconds... listen... if something is pertinent "to me", I rewind until the information beginning and listen carefully, sometimes taking notes... if still not pertinent... continue fast forwarding. I LOVE VIDEOS JUST FOR THIS REASON - SPEED WATCHING!!! (My name for my version of speed reading)

[@bqz4eva]

OK, I would like to know if this is still accurate for 2022?…. With everything going on right now. Should I still do this?

[@andyluis13]

This is the first time I learned this. Thank you🙏🏽

[@jdc1lovelylady]

I've heard of bonds before but this is the first time I've heard it in such details I actually understand.

[@arabianprincess9396]

Long video with affiliate link

[@paulrivera797]

Don't you need a bank account to open these?

[@stevenrrobinson3680]

I keep my money in the freezer.

[@autonomiatolete2612]

Where do you live? Hahaha

[@stevenrrobinson3680]

Thieves don't look in your freezer, and if the house catches fire hopefully my money survives lol.

[@Phougi]

Cold, hard, cash.

[@marcduchamp5512]

Frozen asset

[@Tommy-hy1ob]

Funny but so smart.

[@AG-so4gl]

So nice summary but you should of said at the outset, depending on your risk appetite, generally changes with age. As we know stocks and bonds are not risk free. For those looking for healthy gains, go with a balanced portfolio, high risk go for crypto, relative safety, gold and yes savings accounts. Dont invest what you cant afford to lose.

[@dubblyewjay1133]

My compliments. Best advice in here. "If you can't afford to lose it, don't invest". Very wise.

[@alvinlim7601]

Thanks for an informative and analytical explanation on the pros and cons of having a bank account..Banks benefits more than their depositor...

[@cruzcustio7472]

I don't know about the U.S but in Australia there are online high interest savings accounts you can switch to that used to pay up to 3% of your money (now at 2.75%) for the first 4 months.

[@cynthomsen9133]

So probably most safe as they will let everything fall before bonds, why not options outside the system?

[@outuvcontext]

CIBC 10 yr annual average is 6.6% return after their fees. RBC is 6.4% after fees.

[@nikhilabi2230]

In India you get a 4% interest on your savings account and around 6.5-7% in a fixed deposit so I think Banks are good enough to beat the inflation.

[@TheKrazzyStudios]

Do you know India's inflation rate?

[@justinbraxton7652]

Nikhil abi What are the names of those Indian banks? And do they have online access?

[@RobertJohnson-th2yf]

I don't think that there is any insurance, similar to FDIC insurance, on bank accounts in India. There would be fees to convert your dollars to rupees and then another fee to convert it back to dollars. Additionally, the rate of inflation in India is about 4.75% meaning when you convert your rupees back to dollars the conversion rate may be that you have actually lost value.

[@jimhenson9255]

@@RobertJohnson-th2yf Has FDIC ever been tested?

[@RobertJohnson-th2yf]

@@jimhenson9255 A quick Google search and I found this. "FDIC's Tab For Failed U.S. Banks Nears $9 Billion." So, I would say, yes.

[@kateajwood4129]

Orion FCU has a 4% checking account with easy stips. Empower has OVER 2% savings yield PLUS 1% cash back debit card purchases. There are better options, you just have to look. Great video though!

[@twn5858]

No thanks! I'll invest my own money instead of having a complete stranger that I don't even know do it because clearly that person has my best interest in mind. Get real buddy!

[@patriciameek4645]

Curious, How do you invest your own money is it through BitCoin? I know BitCoin will be hard because most stores will not accept this coin ha.. Can you explain?

[@b__w_4565]

@@patriciameek4645 it’s an investment rn because we aren’t using it as currency just adopting slowly and stacking sats...until the price is ridiculously high!

[@barbaraherda9212]

3:00 “Inflation is the deterioration of the buying (purchasing) power of your money (currency, real money is owned by you not the banksters, like physical metals in your possession ). The PRIMARY cause of inflation is the banks creating MORE CURRENCIES than actual products & services are being produced. You end up with MORE CURRENCIES (fiat dollars/pesos/yen/rubles/euros/yuan/etc) chasing the SAME NUMBER of products &services. Inflation, contrary to msm opinion, is NOT inherent and a “natural” occurrence in the financial system. End the Fed Res, IMF, BIS, etc - end centralized monetary control - become ur own banker. We do NOT need banks, nor a “money standard”. As long as there is ONE or TWO standards controlling, there will be a small handful of vipers. In your community, informally agree on what you’ll use for payments/barter/wages. As per John McAf**, before he was “suic*ded”, we can now use distributed ledger tech for a payment system that’s NOT run by banks, gov’ts, etc. Just people.

[@BossChronicles]

Thinking about closing my chase checking Account if you don’t have direct deposit they charge a 6 dollar monthly service charge totally Not worth it

[@myassingh]

Inflation adjusted for housing and commodities prices is around 12% not 2%. Besides when things go south those bonds will worth almost nothing. Extremely high risk just as bad as money in the bank.

[@ResanChea]

I feel like im being put in an hour long lecture everytime he brings up a point that has nothing to do with what i clicked for, ill be graduating in money management by the time he gets to the god damn point

[@theregularguyqt9726]

🤣🤣

[@johncoll4456]

BOOM!

[@MOON-zo3ik]

I report their accounts bro start reporting their account to be taken down. I’d rather them make a video of 5minutes if getting to the point and the rest of the video being of random shot so they can get their money

[@bobs5596]

i expected a gold silver crypto lecture, not even mentioned. were they? how else can you keep your money? banks are also subject to creditor repo, judgements, identity thefts, lawsuits. gold silver crypto are impervious.

[@MisterUrbanWorld]

This is for rich people, because if a person only has $500 or less they may want to use a debit card for buying necessities,etc

[@m.a.a.aamerican6389]

That’s why I keep all my cash in my house and some other places where no one knows where it is

[@lionelhowell4972]

WELL, WHAT IF YOU DIE???

[@billwilliam4289]

By keeping it in your house it's not working for you...... money is a current so you have to make good investments, reality is that everyday our money is losing its value so at the end of the day what are you saving etc......

[@larrymorgan747]

How much money? You seems broke lol

[@saulgarcia7083]

Kiwdow Rock I know where it is I’ve seen the movies

[@m.a.a.aamerican6389]

Saul Garcia For real I gonna tell you one place where I have some my cash 10 feet under my bathroom. It’s on a safety box but my kids know that I have my money there if anything happens to me cose you never know

[@bradyhack2428]

I’m gonna try this and maybe some investment options. A while ago I had a bank acct which I won’t mention with who, but I had well over 5K in my acct.. I went to borrow 5K from them and they wouldn’t give it to me. So I left the bank. I didn’t actually want to borrow anything, just seeing what kind of Bank I was dealing with.

[@PositiveInvesting]

Lots of new editing and animations here! Love it Ryan!

[@goldielocks8905]

What I don't hear is standing, where do you stand as a creditor verses a share should SHTF; bankruptcy; sale; receiver ship?

[@judahnmatsaba7126]

I was exposed to this concept and understood it, I'm open to get another perspective of it. Thank you.

[@peteypops]

Are US bonds only available to US citizens?

[@livdouglas3410]

Grandmother use to keep her money in mattress 😊

[@puncho33]

🤣😂🤣✊🏾

[@fidescuello461]

Hehehe

[@hornet224]

Bonds have risks too. Muni bonds can default in a prolonged economic crisis where tax payers loose jobs or inflation is rampant. Pay off your big debts and hold cash.

[@everafter2611]

I honestly hate being poor and I rarely have money to spend but hopefully next year this will be different but I feel trapped in poverty

[@joshipp761]

Ever After, I know what you mean. I too. Am tired of being poor

[@camveillette3236]

Ever After you need to live below your means for a little while to be able to build wealth. The reason people say you have to want to succeed more than you want to breathe is because it’s very difficult to have that self control. Recently I’ve felt like it’s worth taking the lesser living quality to save money and build wealth by investing so that you can have that stability and better living conditions later on.

[@fntime]

There are only 2 money problems. 1. Have no money 2. Have money Poor people are never aware of this truth because they never will be rich unless they inherit it or win a lottery. Poor people, the reason you are poor is that you resent others who have more and envy others for what they can 'show'.

[@AustelGrey]

@@fntime That's the most twisted logic I've ever heard in my life and did absolutely zero to contribute to anything constructive.

[@ErikGauthierDrums]

@@AustelGrey Actually, he's right. Having money comes with a whole lot more to it. Being poor is easy, just keep living, buying random shit you enjoy for a few months.. work every day, live happily ever after. Having money, is hard to achieve, and it acquires a certain level of discipline to not spend more than you earn. Also, in order to make money, you need to spend money. That's the difference between rich and poor. Poor uses their money to buy bread. Rich, starves to buy stocks, to buy 2 loaves later. Give a poor person a million dollars? It's gone in a few months and there's more debts than before the million.. How is that?! Poor just doesnt know how to spend. Poor headache = AHHH I cant save money Rich Headache = AHH I saved my money, what do i do with it?? So in turn, theres only 2 money problems. Having none or having some.