When was the last time you made six-figures in your bank's savings account?
If you have answered NEVER, then you are absolutely correct! Banks can only guarantee a very tiny percentage of compound interest. So, a bank savings account is an inefficient form of growing one's money. It may be a great safe-haven for housing your funds, so long as your bank is FDIC-insured.
But if you're looking to place your money in something that can grow, there are two suggestions we have tested:
WHOLE LIFE POLICIES
Yes, we are talking about insuring your future and your family's future. Of course, the earlier you apply for whole life insurance, the better. While there is a death benefit, there is also a living benefit! It builds up cash value over time, regardless of the market's conditions. The reason we absolutely love the Whole Life Policy route is one of our bloggers used it to fund her move to Japan. Without it, she would not have enough saved to be able to move to another country. Even the 1% have multiple whole life insurance policies, which they use for their businesses. Walt Disney used a whole life policy to fund Disney. Now, billions of dollars later, Disney is a household name that everyone knows and loves. If it hadn't been for Disney's whole life policy's cash value, we would never know Walt Disney World, Disney+, or the mouse. If you want to learn more about the power of policies, here is an article that gives a more detailed overview of the value of Whole Life Policies: https://voicebot.ai/2023/05/22/watch-teslas-humanoid-robots-walk-into-the-future/
MARKET INVESTMENTS
Be it the stock market, the forex market, the cryptocurrency market, the options market or the bonds market, when you treat your investment portfolio as a savings account, you can manually trade and watch your investments work. Now, it's up to you to do the research about whatever it is you are investing. Unlike Whole Life Policies, investing in the markets heavily relies on the health of the economy. Time and study are required to understand how the markets move and behave. Fortunately, we have classes that are dedicated towards understanding two of the many markets we listed above: Forex and Cryptocurrencies. To join those classes and understand how to utilize your portfolio as an active savings account, be sure to sign up as a Gold Member: https://www.tinybossblog.com/plans-pricing
Overall, these two options have been utilized by our team because we value investing smarter. Though the options may be slower paced, the long term effects are greater than any other investment strategy we have researched and come across. Of course, nothing is guaranteed. But these options are much better than letting your $100 turn into $100.01 after a year of sitting in the bank's savings account, right?
To learn more about these options, please comment below and we can help answer any questions you may have.
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