Inflation: Inflation means there is more money chasing fewer goods and services. Today governments are printing phony money like no man’s business, why stuck money in the bank when money is becoming worth less and less due to inflation. The best way is to invest money, not stuck money.
You Make Others Rich: Your savings is a liability to the banker; debt is an asset to the banker. If you save money in the bank, the bank lends your savings money to the rich guys at a lower rate and the rich use your savings to make themselves richer by building businesses and investments. Your savings makes the richer get richer. And you also make the government have more control over your life through your saving account being taxed. “Everyone wants to live at the expense of the state. They forget that the state lives at the expense of everyone” said Frederick Bastiat, French Political Economist, 1850.
Pass Over More Money Making Opportunities: You waste other money making opportunities. Money was meant to used, to make things happen.
You Are Charged for Your Money: Money is debt today, its currency, today your savings are worth nothing, you put your money in the bank 10 years ago you get 10% interest, what happens in the future, you put your money in the bank you get to pay 10% interest to the bank just to take care of your money.
Retirement Plan: The most taxed savings account is the retirement account and also a retirement account sends money to via retail and investments bankers and the banker sends that money to the rich people.
When the market crashes, savers are always losers. Don’t save money to save; save money to invest.