Money Management Securing Your Future

byGitErDun

517 followers

Updated 8 years ago

Money is a Primary Reason We're Involved in WA

First, I know this topic is not DIRECTLY referring to the purpose of WA itself. But, folks, let's face it... We're working hard here to make a substantial income, no matter how much money that each of us decides that is.

I believe that along with the process of making that money, a lot of us are also concerned with providing financial security for ourselves and our families for some time frame in the future.

Do You Think You're Money is Safe in a Bank?

That being said, my question is, how are you saving for the future? Savings account? Stuffing some under your mattress every month? Buying Stocks and Bonds? Buying Real Property? Buying precious metals? Cryptocurrencies? Etc...

If you're only relying on your savings account in the bank, especially if you're in the USA (there's other countries of concern, too, of course), you could be setting your future up for immediate disaster if your country's currency fails!

What is fiat money?

Since I reside in the USA, and, right now, IMO, the risk of the USA financial system failing (in essence, going bankrupt) is of definite concern, the focus of this information is centered around the USA financial system.

The basis of fiat money is that its value is based on supply and demand (not backed by anything of physical value), vs. when it used to be valued against gold and silver (which [finally] ended in 1971 thanks to President Nixon). The dollar is fiat money.

So, What's the Problem?

To put it in a nutshell, the USA is SERIOUSLY in debt and in trouble. Our government's debt is now over $19 trillion (source: http://www.usdebtclock.org/ )! The Federal Reserve Bank, which is NOT a USA government controlled agency, prints more money willy-dilly contributing to the devaluation of the dollar. Other government agencies (eg: Social Security) are unsustainable financial obligations.

The banks, which are insured by the FDIC (another agency not able to even come close to covering a financial collapse) do not have the actual physical money to give to its depositors if even a small percentage wanted all of their deposits back at the same time.

BTW, did you know that once you've deposited money into the bank, that money is no longer yours?! You're actually considered an unsecured creditor to the bank.

If all of that was not scary enough, the banks are now back in the practice of making low-money down home loans to subprime borrowers with the money you deposited in their bank. This practice was the primary reason for the real estate collapse and 2008 recession, and they are doing it again!

The Time To Change Your Savings Habits is NOW!

If you're not diversifying your savings portfolio, I seriously recommend that you consider doing so ASAP. Even having physical cash, enough to last at least a few months, stashed away and quickly and easily accessible is more security than you have than by just relying on your savings account(s).

Precious materials (eg: gold, silver), wise investment opportunities, including business opportunities, legal offshore accounts and foreign investments, even cryptocurrencies are some recommended options.

Silver is an option to seriously look at right now. I have a link to a podcast talking about buying silver as an option to helping your future financial security, done by a person that I've been receiving his newsletter from for quite a while now. He doesn't actually sell silver as part of his business, that I know of, but he does have a business that is related to this topic.

I'm not an affiliate or involved with his business in any way other than receiving his newsletter, so I don't get any financial compensation whatsoever.

But, I feel this is an important enough a topic that I want to share it. After all, it's hard seeing folks work so hard for something, and then see the worst happen later, when just a little info might have done something to help prevent it.

Wishing all success, now and in the future.

Mike