Stop Saving Money - (DO THIS INSTEAD!)
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- čas přidán 21. 08. 2024
- Saving money is actually COSTING you money - the banks have a dirty little secret that they don't want you to know, but I'm here to do it for them!
We have all been taught our whole lives that the best thing we can do with our money is to save it, but the reality is, that's actually not in our best interest at all
Sure, we learn good skills, but just knowing a few little secrets that they don't teach in school can help you earn more money than just leaving it in a traditional bank
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Disclaimer:
The information in this video is general information only and should not be taken as constituting professional advice.
I am not a financial adviser and you should seek independent, licensed, financial advice to make sure the actions you plan to take suit your individual circumstances.
I am not responsible for the financial decisions that you make, only you are
What a strategy!!! Thanks for teaching us not to be sheep 🐑 enjoyed that comedic relief too 🤣
The school system is on its last legs. I’m looking forward to a day where they actually teach valuable information
Those filthy banks!! Time to change where we keep and grow our money
The chart of property v investment market blew my mind.
Great strategy Dansplained
I was literally thinking about the low rates that bank pay us vs the high interest rates for lending the other day!
Great Video Dan, Hope your and the family (and Murph) are safe and well, Yup I cashed out my saveing's and "Cost plus average" into Tesla, Hope over time it will make me more , Thanks good to see you.................Jim in Washington.
Hey Jim! So good to see you again mate, I’ve missed your comments. I know I shifted direction of the channel so I wasn’t surprised, but it’s awesome to see you comment again!
You are lucky if you get a 1% but right now they pay in average .001% . I would never keep my money in the bank but invest it else where.
Absolutely. Most Aussie banks are paying about 0.5%, even if it was 2% it would be unders!
This video is for kids and financial dummies. Not for me. Hoping you will make much more informative videos.
Hey Dan, love your video! Does that mean we shouldn't keep too much money in the mortgage offset account as the interest rate is only 2-3%. We should utilize the money in etf where give 7-10% annual return?
Ok my opinion, absolutely! That’s exactly what I do. I am betting on the fact that over the long term, while rates are low, the stock market will return more than the offsetting money will save. As you said, 2-3% isn’t as good as 7-10% earned. That is my belief and my approach and unless interest rates go up to ~5%+, the stock market is a better bet (over the long term)
Great question by the way