YouTube video by Jayson Lowe arguing that keeping savings in banks yields little or no return and proposing the ‘infinite banking’ concept as an alternative. The speaker urges consistent saving year-round and using a specialized vehicle to access funds for emergencies and opportunities.
What can you do with a rainy day fund? Why only save for a rainy day? Is there any downside to having savings on sunny days too? You've heard the expression, a penny saved is a penny earned, a penny saved is just a penny. And so if you develop a discipline of saving 365 days a year, whether it's raining, snowing, hailing, bright blue sunny skies, what's super important is to recognize that your savings must reside somewhere. And where most people store their savings today is actually a disadvantage for them because the banks are paying you nothing. Cash is trash when it resides inside of a bank. What I would encourage you to consider is taking a look at the process of becoming your own banker. The infinite banking concept, utilizing a very specific tool to save your money and still be able to take advantage of opportunity that tracks you down. And to know that whether it's rain or sunshine, you've got more than enough money available to tackle any emergency that arises and to take advantage of any opportunity that tracks you down.
