Hey friends, welcome back to Limitless TV. Did you know that banks are the worst
place to put your money? Hey friends, Stephen Michael Miller here. I want to
answer the question why are banks the worst place to put your money. Well, let's
just talk about this. Every time you go to put your money somewhere, what are you
actually looking for? The reality for all of us, is when we ha,ve earned that dollar
well you know we have put our time, our effort, our ingenuity into earning that
dollar, we also want that dollar to go to work for us. So, what we're really looking
for at the end of the day is a really good return on investment or what we
call an ROI. We talk about this often. When we're going into real estate, we're
talking about the types of ROI's that you can look for. When people
put their money into other types of funds, be it a real estate investment
trust or maybe they're putting their money into a hedge fund or something
like that or maybe there's putting their money into something else. When we talk
about that, what they're really looking for is a proper return on investment. So,
let's talk about that. What is a proper or a really good return on your
investment? Well, if you if you believe that putting your money in a bank is
going to get you a good or a decent ROI, we have to define that. Most banks are going to
pay you out maybe a percent, maybe at tops, a couple of percent. But most banks
and your savings accounts and your checking accounts and even in your money
market accounts, are probably to pay you a little bit less. Well, money markets are
a little more. But in your checking and savings accounts,
you're going to see probably a fraction of a percent and a fraction of a percent is
not something that's ever going to amass true wealth for you. Even when we start
to talk about compound interest and especially when we start to talk about
compound interest, having just a fraction of a percentage is never going to get
you to accomplishing your financial goal. So let's just talk about this for a
moment. Let's think about this. Why don't you want to put your money in a bank? Why
is the worst place to put your money? Because
they're taking your hard-earned money and they're giving you a pittance for it.
There are hundreds. There are probably thousands of better investments than
putting your money in a bank. Let's just talk about it. Let's talk about real
estate. Well, we know with the real estate that Kris and I have been doing for the
last decade or more. We have found out very simple processes and ways to
actually help you earn double digits on your money. Anywhere from a you know a
10% return on up to a 25% return. And I'm talking about not just your overall
return on investment but even sometimes your cash on cash return. See, a cash on
cash return is something that you don't even talk about. When talking about
putting your money with the bank because they're giving you such a little tiny
small percentage that even with a lot of money that you may have in an account,
it's going to be a small return. It's going to be mean not something
that you don't want to write home about, right? So, we typically don't even talk
about a cash on cash return and in the banking world because it's so minuscule
then it's kind of laughable to even talk about. But with real estate, you can talk
about it. Cash on cash return that means to cash in compared to the cash that you
get back out in terms of a cash flow after all expenses are paid, right? So,
oftentimes, the cash on cash return, we really help people get anywhere from a
7 or 8% cash on cash return up to a 13 or 14 % just
cash on cash return. And then when you put other things into it, like
appreciation in the marketplace or increase rentals or different things
like that or even tax savings. You start to get you know you can get into the
realm of 15 to 25% overall ROI in real estate. So, why would
you ever put your money with a bank with a very minimal to almost no cash on cash
return and a very small you know, overall ROI, when you could put it in real estate?
Well, what else can you put your money in? You can put your money in stocks and
you know stocks are something I'd have a lot of I know a lot of individuals who
make great money in stocks. I have a friend who's been doing it for a long,
long time and it's funny because it's not funny, it's awesome I love it.
She'll jump on and shoot me a text or every time I see her so talk
about what she's been doing in her stocks and often times she says to me,
"Stephen, you know I just made you know three grand today or I just made
four grand today. I just make 10 grand today." And it's fun
to hear that and listen to that. And those numbers are oftentimes synonymous
with double-digit returns higher returns, definitely more than a fraction of a
percent return. And so again if you had a system like that or you could do
what my friend does, would it make more sense to put your money into stocks or
at the bank? Well, absolutely stocks. Let's talk about the thing that's a big buzz
right now. Let's talk about Cryptocurrencies. Cryptocurrencies, can you
lose your money in Cryptocurrency? And by the way, can you lose your money in a
bank? Can use your money in real estate? Can you lose your money in stocks? Yeah
you can lose your money in every type of investment. No matter what it is. There is
a risk associated with it, with all of them. So, I just want to put that out as a
disclaimer. But with the bank, you know for a fact that if you're not losing all
of your money, you're gaining little to none, right? You're gaining
almost nothing putting in the bank. With all these other ones, although you have
some risk associated with it and probably a little bit more risk than putting with a
bank, your possibilities of return are also so much higher.
Cryptocurrencies is one of those that it can offer a much higher return. If you're
doing it the right way. Bitcoin started at one penny. Bitcoin
is the the largest Cryptocurrency out there right now. It's actually the sixth
largest currency period in the world. And Bitcoin, when it started off, was
evaluated at one penny. If you would've put your money in the bank, let's say you
had $1,000 and you put it in the bank, that thousand dollars may return you a
fraction of a percent. But if you had that thousand dollars and 9 years ago
you were to put that in Bitcoin, just try to calculate for a moment what that
would have done for you? Today, right now it's worth instead of one penny a coin,
it's worth $8,500 or so a coin right now. So,
what is that? That's an $8,500 times a 100%
return. Whatever that is. I'm not on the calculator out on me right now and I
can't do the math in my head. That's a crazy, crazy return that thousand dollars
would have made you a multi-billionaire and probably even more. Maybe even into
the trillions. I haven't done the math right now. Point is, is your money
going to work for you in that Cyptocurrency, would have been way more
than your money being put in the bank. Let's talk about a business. If you're
doing what you're passionate about and you take your money and you put it into
your business, something that you're you're working hard, you're getting after,
you're creating with it, that money will potentially do way more for you
than it would if you just sat it in the bank. Here's the point.
The banks have never been meant to make money for you. As a matter of fact, the
bank is one of the worst places that you can put your money. It's okay for a
temporary holding spot. For those of you that say, "I don't want to unplug from the
world necessarily. You know I don't want to go off the grid and everything." The
bank is a great place, is a great holder for a short amount of time as long as
you are appropriately putting it in two different buckets that are going to create
and produce more for you. Don't allow the bank to be a long-term, permanent
solution for you. Find other investments and other solutions that will treat you
better and that will pay you more because right now, the bank is one of the
worst paying buckets that you could ever put your money into. So, is
the bank going to pay you, is a bank good place to put your money? I'm going to
tell you flat out, no. Don't use a bank as a primary bucket to hold your money for
any period of time. Alright, now you've got some options outside of
just the banking system. Start using some of those options and if you'd like to
learn more about Kris and I and our team and how we can help you, then go
ahead and click on some of the links in the description below. Subscribe to the
channel. We'd love to do more and more and more with you guys. Have an awesome
day and we'll see you tomorrow.