Banks Won't Make You Rich

[xuan87]

Banks are not the place to make you rich it's the place for you to save your money and to lend money, the interest is very small it's not balance with the inflation that happened, that is why we never heard anyone getting rich from bank's interest, if you want to be rich find other place to put your money

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[LodisMcguire]

Of course not,bank is exist to help circulate the money into masses and help economy,while taking profit from it.So that's why you can't become rich by banks,it's not their purpose.People who want to be rich with easy way,they just invest the money into something that will have much value in the future like gold and real estate.

[Blue Bell]

yes banks can not make you rich, you just make them rich. The bank functions only where your money is safe and you are only given a small amount of interest.

You are absolutely right banks are not able to make you rich, if you deposit your money today in banks and you keep on holding your money in banks for a lot of years even then you will not earn very high  but if you will save investment in bitcoin then it will give you more than double profit with very short time but bitcoin dies not lose your money it grows only, on the other hand saving money in bank will only expire your money and your profit so don’t trust bitcoin for saving money.

[flying_bit]

It's true that bank will not make you rich and will never be but bank is for safe keeping of your money and use for savings. Bitcoin and altcoins is high risk investment with high return but with high risk too. Basically you should only invest what you afford to lose and don't include your savinga in your investment.

[JerryJam]

Banks are not a guarantee of safety of your deposits. Banks act as intermediaries. They exist at the expense of our money. This is a large Commission, a large percentage of the loan, insurance premiums, etc. I personally don't trust the banks and try not to mess with them. For example, in Ukraine only for 1 year 86 banks burst. Some disappeared along with the depositors ' money.People lost their savings.Confidence in banks is gradually decreasing. if you store your money in electronic form on their wallets, then this method is much safer. Then we become something of a Bank ourselves. And we can manage our own money.

[ladydark]

It's only the banks which earn profits by lending our invested money as loans for interests.The only benefit which we could get is that our investment remains safe but not safe from deflation.

[Basmic]

It's only the banks which earn profits by lending our invested money as loans for interests.The only benefit which we could get is that our investment remains safe but not safe from deflation.

I don't know where you saw the deflation. All Fiat are experiencing inflationary pressures. Governments are constantly using emissions to pay for their mistakes in the economy with our money. I never keep my money in a Bank. This is not profitable from an economic point of view. Bitcoin is really the most effective tool for protecting our savings to date.

[syaripudin]

This is my opinion.Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.You saving will be simply be eaten up by the sleepy monster called inflation. As a example I will take ,When I'm in grade school,each day I received 10Rs (my country currency) from my mother.It was enough to by me 2 meals,but in now 10Rs enough to buy 2 candies.   Banks are just for keep your money safe! 

Bank is the centralized storage system of our financial assets so it is clear that the banking system only serves to store our financial assets. so if you think about wealth goals obviously have nothing to do with it but if you want to keep your financial assets with a rich purpose of course bitcoin is a very appropriate way because I think bitcoin is a very valuable financial asset. so it still depends on what you want for your financial assets, whether your goal is just to save or for investment purposes and if your goal is to make an investment of course bitcoin is the right choice.

[ss890]

Buffett has said his secret to becoming rich is to save money and invest. Keep saving and keep investing.

The bank can only deposit the money cannot invest, put the money in the bank, the bank will take your money to invest!

Bank cant invest the money? Off course man thats what they do! They use your money to lend it to other people or their own customers. They loan you the money for car, personal use, home and much more at huge interest rates and that is how they earn huge money in terms of intrerest and guess what that too using our money. What they do is just the paper work, online work and etc to keep the system running. However they do earn more than required. I mean without that banking system will never work. With bitcoin as emerging way of putting your money into it I am sure its the best one both in terms of getting profits and storing them securely.

[LogitechMouse]

This is my opinion.Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.You saving will be simply be eaten up by the sleepy monster called inflation. As a example I will take ,When I'm in grade school,each day I received 10Rs (my country currency) from my mother.It was enough to by me 2 meals,but in now 10Rs enough to buy 2 candies.   Banks are just for keep your money safe!  

I agree with this. This is the one of my reasons why I don't want to put my money into banks because aside from it won't make you rich but it has a low annual interest (in our country). Every year, there is an inflation of around 2-3% (I think) in our country and the annual interest is around 1% so putting your money in the bank is useless because inflation will eat your interest. Useless banks. I'd rather invest my money in stocks or in crypto.

[Demughni]

This is my opinion.Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.You saving will be simply be eaten up by the sleepy monster called inflation. As a example I will take ,When I'm in grade school,each day I received 10Rs (my country currency) from my mother.It was enough to by me 2 meals,but in now 10Rs enough to buy 2 candies.   Banks are just for keep your money safe! 

yes it is right. Interest rate of bank is too tiny. if you want to be rich, you can invest your money in crypto or buy property. it can make you rich.

[boblets243]

This is my opinion.Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.You saving will be simply be eaten up by the sleepy monster called inflation. As a example I will take ,When I'm in grade school,each day I received 10Rs (my country currency) from my mother.It was enough to by me 2 meals,but in now 10Rs enough to buy 2 candies.   Banks are just for keep your money safe! 

I totally agree on this that savings in the bank won't make us rich. The value of our money today won't have the same value in the next 10 years. This is due to inflation. So to fight inflation, the best thing to do is to invest. There are a lot of options where to invest. We can invest in a bank, make our own business or invest in crypto. If we wanted to be rich or to achieve financial freedom, one important thing to do is to invest. So good luck to us.

[kaizie]

This is my opinion.Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.You saving will be simply be eaten up by the sleepy monster called inflation. As a example I will take ,When I'm in grade school,each day I received 10Rs (my country currency) from my mother.It was enough to by me 2 meals,but in now 10Rs enough to buy 2 candies.   Banks are just for keep your money safe! 

You're not really get to be rich because of the saving into a bank, because the bank serves you just to keep your savings for it to be safe. If you really want to get rich start your own business or do some investment in cryptocurrency.

[Marrionbitcoin]

This is my opinion.Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.You saving will be simply be eaten up by the sleepy monster called inflation. As a example I will take ,When I'm in grade school,each day I received 10Rs (my country currency) from my mother.It was enough to by me 2 meals,but in now 10Rs enough to buy 2 candies.   Banks are just for keep your money safe! 

Here in the Philippines, banks have so small interest rates less the tax and I really feel bad about it. I am so thankful that Bitcoin is already there and really a game changer that can make our lives better and easier. It helps me to earn extra income by trading in digital currency world. And until now, I am hoping that Bitcoin will rise up the price too soon. So, I need to be more patient for that to happen.

[yndye]

This is my opinion.Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.You saving will be simply be eaten up by the sleepy monster called inflation. As a example I will take ,When I'm in grade school,each day I received 10Rs (my country currency) from my mother.It was enough to by me 2 meals,but in now 10Rs enough to buy 2 candies.   Banks are just for keep your money safe! 

Banks are not meant for making you rich but for you to keep your money safe. It is only in the information age today that it has open our eyes to the possibility that we can earn more when we invest in other investment vehicles that has higher returns than inflation so that we can grow our money. Before, I thought savings is the way for me to be rich but then when I realized the interest rates given by banks, I started to find other alternative investments that can help me in achieving my goals which is investing in cryptocurrencies, stocks, mutual funds and other investment funds.

[lzby2000]

I really agree with you. It's true that you can't get more loans from banks unless you have enough collateral or securities. And your money in a bank can never exceed the inflation rate in your country. We should remember that banks are just a service organization. They are not charities. They only benefit the government and themselves.

[horrifiedx1]

This is my opinion.Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.You saving will be simply be eaten up by the sleepy monster called inflation. As a example I will take ,When I'm in grade school,each day I received 10Rs (my country currency) from my mother.It was enough to by me 2 meals,but in now 10Rs enough to buy 2 candies.   Banks are just for keep your money safe! 

You're not really get to be rich because of the saving into a bank, because the bank serves you just to keep your savings for it to be safe. If you really want to get rich start your own business or do some investment in cryptocurrency.

indeed inflation is not comparable as bank interest, because bank is not as an investment tool and seek profit, but bank do service to overcome the funding with various promotions they offer

[Ridwan Fauzi]

This is my opinion.Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.You saving will be simply be eaten up by the sleepy monster called inflation. As a example I will take ,When I'm in grade school,each day I received 10Rs (my country currency) from my mother.It was enough to by me 2 meals,but in now 10Rs enough to buy 2 candies.   Banks are just for keep your money safe! 

Nothing can be rich if we dealings with a banks, banks just make us miserable with the policies they have. I don't like banks for lending money with interest, every person who borrows to the bank will always increase if it is late to pay. Unlike if we keep money in the bank, our money will be used by them to lend to someone else and they will get profit while we get nothing from it. Banks are a sneaky way to profit, cryptocurrency and blockchain is very feasible to replace bank.

[labs0918]

This is my opinion.Banks won't make you rich.saving in bank can never do that,because of interest rate that bank gives you is too tiny.You saving will be simply be eaten up by the sleepy monster called inflation. As a example I will take ,When I'm in grade school,each day I received 10Rs (my country currency) from my mother.It was enough to by me 2 meals,but in now 10Rs enough to buy 2 candies.   Banks are just for keep your money safe! 

Yeah you've got it. I am very much agree with you. Bank is only a money keeper. It will not make you rich even you deposit a big amount. And sometimes and some banks are not safe.

[kwarto]

i totally agree on above comment. putting your money to bank is merely saving your money for future use... the bank owners are the one get more richer because of your money... bank uses the deposit money to their advantage.. they provide loans with a very high interest rate making them millions of earning out of the deposit money...