reply to post by CosmicEgg
That is the worst idea I have ever heard. I am a financial coach as well as an avid ATS member. I completely agree with your argument regarding
creditors. That is a broken system. American greed, impatience, and our need for instant gratification has led the credit institution to be what it is
today. As far as removal of ALL banking activities?! Not smart and very bad advice! It seems you don't understand how the money and finance works.
Which is really no fault of yours, because 99% of all people in America are taught absolutely nothing about money or finance.
And before you try to chastise me about how I am the one who is wrong. I have a Series 6, 63, 26, and 65 investment licenses and I have been in the
financial sector for some time now so I know a thing or two. Also, my job is to help families get out of debt and retire early, so my motives are
Also, if you take time to understand basic economics and inflationary trends, you would know that putting your money in your sock, mattress, or coffee
can is a sure-fire way to wind up broke in 30yrs or so. As inflation rises, the buying power of the dollar weakens. Inflation average out to 4.75% in
2011 and has had a 50yr average of 4% which simply means that we have to work harder every year and our money buys less.
I my self only use my bank as a checking account, NOT an investment vehicle. I advise my clients to treat banks as such. Banks were designed to make
sure you have liquid access to your money, NOT for wealth management.
In addition, it seems that the Irish government is in bed with the European banks. The Irish people are probably paying billions into non-guaranteed
bonds because a few political entities saw a way to get rich through that deal.
Not trying to put you down, you have the right to be angry. We all do. Please make sure you are educated on something before offering any advise.
I have three philosophies when it comes to money:
1) Dont spend more than you make
2) Dont take financial advise from broke people (they are broke for a reason)
3) If your money pile is bigger than my money pile... then I'll take your financial advise.