The biggest mistake you will make as an entrepreneur or upcoming entrepreneur is to be saving your profit or other income in a bank like savings or fixed deposit. Please, do not get me wrong, you can still save your money in a bank for an upcoming project, but entrepreneurs seldom save money in a bank with the intent to multiplying the money.
Banks make use of your money to invest and make money for themselves while giving you peanut at the end of the day. Just read through this post and see reasons why you should not save money with the intention of multiplying it and examples of firms you can invest your money and watch it work for you to grow;
- Banks Use Your Money to Invest
This is a proven fact I got from a very close friend working in a bank, he said his bank and others do make an investment using Forex and giving out loans to people with viable business on ground that promise good returns and they pay you less than ten percent in a longer period. If you are a good observer, you will notice that the money you kept in the bank for one year plus, which earned you at most ten percent extra would have earned you at least eighty percent if you had invested in an investment portfolio or a business.
2. Your Income Flow will Be Slow
As an entrepreneur, the last thing you will want in your business is go slow, keeping your money in fixed deposit in the bank will only slow your income flow. There are alternatives to saving your money in the bank. There are investment portfolios you can invest on and watch your money work for you and be doubled within the shortest period of time.
3. Makes you a Better Investor
Being an investor as an entrepreneur is almost a must as you will be going deeply into investing, fortunately, there are investment portfolios, international company stocks, cryptocurrencies where you can invest your money. I will introduce you to one of them I use presently and be assured that they are very effective in using your money to work for you.
Once you are frequent with such investment, you will learn and become an expert investor in no time. I am talking about the Warren Buffett kind of investment where you place your funds where you know will yield good profit within the shortest period of time.
4. You Have Control Over Your Money
I am sure you have ever experienced difficulty to get your money from your bank savings or your money will be deducted with the excuse of tax or other bank charges. In investment, you have full control of your money and pay the government, if any charges, after paying yourself.
You are also at will to liquidate your investment into cash if you are pressed for cash to execute some important project.
5. Banks are Even More Risky
Think about this, most people close and around me rely on commercial banks to build their financial status for them. They rush collecting bank loan with high interest and hidden or unstated charges. I see that as a way of pulling yourself down because from that day the loan is granted that is the day you started working for the bank while they use the interest they collected from you for Forex trading and other businesses. To be frank with you, banks do not have any money; they used the money from the first guy and give it to you as a loan, making sure you pay before the first guy come for his money and if you were not able to pay, they charge u extra and collect another third guy money to pay the first guy and most people are happy by this concept.
With these point of mine, I am sure you now see reasons with me why banks are not the best choice for your investment option, recently, due to the heat of the recession, I and my team took a break to research on the best and safest investment portfolios we (you and me) can invest on and we were able to discover some which I will gladly disclose here bit by bit, you are not paying for this vital information so check this blog often for update or join our mailing list so you can get update right inside your email inbox.
Meanwhile I personally have tried this one I am introducing to you now, follow this link to go there now, please do not postpone as it will not cost you anything to join them and you can start with a minimum of $10 to test the investment waters plus it is a well known company with over fourteen years of existence.
Another point of note here is that if you do read this to the end, please do not comment until you try it for yourself and see that it works before you come down here to comment.
See you at the top!