Banks Are Not Your Friend

If you told your banker that you wanted all of your money, your banker would try to dissuade you.

"What would happen if your house burned down and all your money was in it?"

"What would happen if a robber came in and took all your money?"

"What about losing the power of compounding interest?"

Here are my answers.

I can buy a great fireproof safe and have it bolted to the concrete floor in my basement.  I'm not talking about a fire-resistant safe, but a true fireproof safe.  Also, bolting it to the floor of your concrete basement will insure that a burglar who wants a quick entry and exit will not waste time on it.

Now the last thing concerning compounding interest looks like a great argument at first.  But realize the bank is making money out of thin-air.  You are placing your money in the bank at a low interest rate, while the bank loans your money out at a higher interest rate.  Instant money!  Viola!

How are you supposed to earn a rate of return on your money?  Buy yourself some shares of blue chip stocks.  Have the dividends reinvested and FORGET you own them.  You will not only beat the banks, but you keep inflation from eating-up all your money.