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E5: Cash is Trash. Understanding the risks in holding cash.
Manage episode 360226020 series 3459220
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Description:
In this solo episode I am talking about the risks in having cash in the bank. With 3 banks going down in the last few months its more important than ever you understand the banking system and risks in holding cash. Its not the safe option your taught to believe it is.
Highlights:
- The History of Money
- Money is printed as debt
- The strength of our currency is a measure of confidence in our government. Our Government is insolvent.
- inflation erodes the value of cash in the bank.
- If inflation is higher than the interest your getting on your cash, your cash is a liability.
- When you have money in the bank, the bank take your money and invest it. They only have to hold 10% of your money. Banks aren't the safe option.
- Only £85k of your cash is insured per financial institution.
- No one ever gets rich by leaving money in the bank.
- Balance Risk with return. The banks are now inherently riskier with 3 banks recently going down, but the return hasn't increased to reflect this.
Resources:
Our story on Starting Real Estate Wealth Development and going for 0-200 properties in two and a half years: https://rewdtraining.co.uk/essentials-course-page/
- Following Real Property Training, for more tips on property investing:
o You tube: https://www.youtube.com/channel/UC1JmktMGRuEpPalLqndDRRw
o Facebook: https://www.facebook.com/profile.php?id=100089657347374
- Join our Real Property Community on Facebook: https://rewdtraining.co.uk/the-real-property-community/
- Our Book: Fast track to Property Millions: Fast-Track to Property Millions: Amazon.co.uk: Duncan, Laurie, Robertson, Alex, Tracey, Conar: 9781739854379: Books
- Our audiobook:
Your Host:
Alex Robertson is a self-made property investor and businessman. He comes from a financial background, gaining a degree in Accounting and Finance and then going on to qualify as a chartered management accountant. Alex is one of Co-Founders of Real Estate Wealth Development, a group of companies in the property industry, with over 200 buy to let properties, training company, construction company and development business. He is also the co-author of the book Fast Track to Property Millions.
Contact:
Instagram: @rewdgroupalex
Facebook: (4) Alex Robertson | Facebook
Linked in: (2) Alex W Robertson | LinkedIn
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