Banks Won't Make You Rich - page 18.

laracastvue

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Quote from: ammobile69 on April 21, 2018, 08:53:59 AM

This is my opinion.Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.You saving will be simply be eaten up by the sleepy monster called inflation. As a example I will take ,When I'm in grade school,each day I received 10Rs (my country currency) from my mother.It was enough to by me 2 meals,but in now 10Rs enough to buy 2 candies. Lips sealed

Banks are just for keep your money safe! Tongue

Banks can actually make you rich but still, it needs a huge amount of time in order for your deposit to grow, the prices in the cryptocurrency market is slowly increasing today and that is the reason why most of the people tend to invest on cryptocurrency more than placing their money on banks.

Tynovten_

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Of course that won't happen, although you're deposit your money with interest rate more than usual. Bank function just for to save assets. But we're that make bank rich.

With deposit money with period of time so bank side sometimes use our money to be loaned to people so they'll get interest rate.

weblaraveluser

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Quote from: ammobile69 on April 21, 2018, 08:53:59 AM

This is my opinion.Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.You saving will be simply be eaten up by the sleepy monster called inflation. As a example I will take ,When I'm in grade school,each day I received 10Rs (my country currency) from my mother.It was enough to by me 2 meals,but in now 10Rs enough to buy 2 candies. Lips sealed

Banks are just for keep your money safe! Tongue

Yeah i do agree on that, banks today are just getting a huge amount of money from and if they will be going to close then there is no way for you to get your deposit so i prefer on investing in cryptocurrency.

gilangIDR

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Quote from: DPrillio on April 25, 2018, 06:26:30 PM

Quote from: Norihiro on April 25, 2018, 05:57:51 PM

You're absolutely true, banks just take your money basically to increase their own incomes, nothing more.

Yes, that's what banks really do because if we put our many to them they only give us a little percentage of interest as our profit and still risk are there. I have known one of my co-workers from a corporate company that he almost lost half of his money because the bank declares bankruptcy. So putting our assets in the may never make us rich but investing in crypto currency has a lot of opportunity to make more money and getting rich to be financially free.

Yes I agree that more banks take the money we have with the assumption of administration fees. Banks only make the rich become richer. While people who have a standard life then the bank does not give enough interest to us. Saving the money we have on an asset like bitcoin can be an alternative because it can make us profit. Yes I think the bank does not currently offer an interesting option, maybe the thing that still makes me interested is a credit card. I will use bitcoin as the primary choice in storing the assets I have.

Nissan-GTR

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Quote from: Don Pedro Dinero on April 21, 2018, 09:22:12 AM

Banks won’t make you rich because they become richer thanks to you. They are not charities. When they give you a loan, they make money from the interest, and when they give you interest for leaving your money there, they also make money because they get a higher interest managing that money.

Thats true, I think people were just investing to that entity because they wanr to be somehow secure in life and in our country the annual interest of your money savings here is 1% which I am very disappointed, and most of the people here doesnt even notice that cause banks make some substitute ways for us to be distracted, and they were the one who was being rich every day.

deppil

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Quote from: geegaw on April 25, 2018, 11:26:52 AM

Quote from: Opekin on April 25, 2018, 03:33:24 AM

Quote from: rhomzkie26 on April 24, 2018, 11:43:26 PM

Quote from: ammobile69 on April 21, 2018, 08:53:59 AM

This is my opinion.Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.You saving will be simply be eaten up by the sleepy monster called inflation. As a example I will take ,When I'm in grade school,each day I received 10Rs (my country currency) from my mother.It was enough to by me 2 meals,but in now 10Rs enough to buy 2 candies. Lips sealed

Banks are just for keep your money safe! Tongue

In my whole life I've never seen any bank clients testify that they became rich because of putting their money into any bank. Bank company is just keeping your money to store it to their bank then will give profit to your savings with a cheap interest only Which I cannot consider its profit.
Therefore, I agreed on you just said mate.

If you are expecting it to occur you are wrong, banks are only a company who will use the other savings into investment on their own. All of your replies is right it is only a savings for which you can safely put your money. A much safer place but it can never be an investment.

Exactly, the bank is just a safe place for us to send money, interest rates are never a number that too significant, so it is never a true investment, that also means we can not become rich from it, the rich are the banks when the banks use our money to invest in other areas, we only get part of the profits meager. In short, instead of depositing money into banks to get low returns, the best is that we should invest in a number of potential areas such as real estate or crytpo, profit is huge when we have a range of visionary

Thats true, bank is not a place of investment dude, so don't expect on bank interest to get big profits because it's impossible you get, at least you only get 1%-3% interest in every year and it is deducted by administration fee. the bank is not an investment place, if you want to invest you can look for commodities like real estate or properties that are obviously profitable

binghope

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This is absolutely correct, because banks are just one of the places where we keep money, not the place to make a high profit for us. So consider before deciding where to invest your money.

DPrillio

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Quote from: Norihiro on April 25, 2018, 05:57:51 PM

You're absolutely true, banks just take your money basically to increase their own incomes, nothing more.

Yes, that's what banks really do because if we put our many to them they only give us a little percentage of interest as our profit and still risk are there. I have known one of my co-workers from a corporate company that he almost lost half of his money because the bank declares bankruptcy. So putting our assets in the may never make us rich but investing in crypto currency has a lot of opportunity to make more money and getting rich to be financially free.

Abiky

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Quote from: FlightyPouch on April 23, 2018, 10:59:38 AM

Banks is not really aimed to be a source of income to start with so obviously it will not make you rich. Those small profits you are getting are better if you are saving your money there for a long time but in a short time, I guess it is not just use Bank as your safe.

If you really want to earn a good profit, since you have a Bank then make a loan, start your own business if you have the skills. If you want to invest then go with it, as long as you know what you are doing keep it going.

Exactly. Banks were never meant to be an institution to make you rich over time. Considering that fiat currency is subject to inflation, your savings could be worth a lot less than what it is right now within the future. What Banks really offer is unparalleled security and trust, which allows anyone to safely store their money against theft and fraud. Of course, they allow you to earn some money by holding your money in a savings account, but the earnings are rather small than other options available in the real world.

Your best bet would be to save your money into a Bank IRA account for greater rates, while the rest would be put up into cryptocurrencies like Bitcoin. This way, you'll become rich within a few years from now, as you build up your path towards spending less than what you earn or save. Therefore, while Banks won't make you rich anytime soon, they could help protect your money for quite a long time. Just my opinion

paynercash

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Your deposit into the bank is just to keep your assets, their profitability is very low. But they are much safer than the BTC. So many people do not take risks they will not dare to join the BTC. They use their idle capital to deposit into the bank and earn periodic interest.

Norihiro

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You're absolutely true, banks just take your money basically to increase their own incomes, nothing more.

ballerin and giroud

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The bank is the safest place to save money, so safe the money you keep on eating every month by the interest rate applied by the bank until maybe the money you save will not be left as it continues to be undermined to pay the interest rate. Do you still want to keep fiat currency there? I personally have left the system they have been offering for a long time.

South Park

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Quote from: maculeth on April 21, 2018, 10:12:32 PM

yes, saving money in the bank is actually not a good way, but we can trust its security level. in the bank, the money we save will not increase, we can even be subject to cutting costs as long as we save. more just invest into bitcoin. equally save money, be safe, and we can expect profit.

The security level of banks is terrible, they may try to make it seem as if your money is safe with them but think about it, is it really safe? Banks have the same problem as exchanges they are a big target and hackers and thieves do everything they can in order to overcome any security measures that they could have taken to protect the money of their clients.

geegaw

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Quote from: Opekin on April 25, 2018, 03:33:24 AM

Quote from: rhomzkie26 on April 24, 2018, 11:43:26 PM

Quote from: ammobile69 on April 21, 2018, 08:53:59 AM

This is my opinion.Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.You saving will be simply be eaten up by the sleepy monster called inflation. As a example I will take ,When I'm in grade school,each day I received 10Rs (my country currency) from my mother.It was enough to by me 2 meals,but in now 10Rs enough to buy 2 candies. Lips sealed

Banks are just for keep your money safe! Tongue

In my whole life I've never seen any bank clients testify that they became rich because of putting their money into any bank. Bank company is just keeping your money to store it to their bank then will give profit to your savings with a cheap interest only Which I cannot consider its profit.
Therefore, I agreed on you just said mate.

If you are expecting it to occur you are wrong, banks are only a company who will use the other savings into investment on their own. All of your replies is right it is only a savings for which you can safely put your money. A much safer place but it can never be an investment.

Exactly, the bank is just a safe place for us to send money, interest rates are never a number that too significant, so it is never a true investment, that also means we can not become rich from it, the rich are the banks when the banks use our money to invest in other areas, we only get part of the profits meager. In short, instead of depositing money into banks to get low returns, the best is that we should invest in a number of potential areas such as real estate or crytpo, profit is huge when we have a range of visionary

Angi

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Banks make to save your money it won't make you rich. People use banks to save more their money and make you save and not spent all your money for useless things so bank may helpful to save money not to be rich.

Starscream

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Investing in the lands or flats/houses is best invest you ever can do, and it's very low risk about that, so it can be considered best alternative option to invest in, but only for years.

kidoseagle0312

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That won't never ever happen. Instead, once you save money in the bank then they find out you have a Millions of savings they can freeze your account at any moment to investigate you where does it come from. Which I hate the most, Bank can't make you rich but they can become rich through using our money that we are saving it to their bank.

PalindromemordnilaP

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Basicaly, banks are the ones that benefited from the depositors’ money in exchange of keeping the money safe with a very minimal interest. It’s better to invest it in cryptos because once you invest, you’re making a fortune for a lifetime.

mriansa

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Quote from: ammobile69 on April 21, 2018, 08:53:59 AM

This is my opinion.Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.You saving will be simply be eaten up by the sleepy monster called inflation. As a example I will take ,When I'm in grade school,each day I received 10Rs (my country currency) from my mother.It was enough to by me 2 meals,but in now 10Rs enough to buy 2 candies. Lips sealed

Banks are just for keep your money safe! Tongue

yes you are right in my eyes the bank is frightened when its customers become rich and no one will want to save again in the bank so that makes the bank fear with the existence of digital currency like this.

w5pn73

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They are meant to be a controlling force, they don't try to make anyone rich but themselves.

Topic: Banks Won't Make You Rich - page 18. (Read 1782 times)