00:00Most people don't know that a high-yield savings account or a CD is actually a trap.
00:04It definitely seems like a smart decision to park your money in this savings account.
00:08And for some people, taking that safe and secure 3% to 4% on your money sounds like a great idea.
00:14But those banks are sneaky.
00:15Think about it.
00:16Right now, we're in a market downturn.
00:18Pretty much all stocks are down.
00:20Indexes are down.
00:21Why would they be offering you more money?
00:23Because they're cool with giving you 3% or 4%
00:25because they're going to invest your money into all these stocks that are down 30%, 50%, 70%.
00:31And since they know that they're going to have your money for at least a year, if not longer,
00:35because this is a savings account,
00:37they're definitely happy to give you a little 3% when they make 50% when that stock goes right back up.
00:43Right now, in 2023, I'm doing what the banks are doing,
00:46and I'm investing in solid ETFs and solid companies that are beating down bad
00:50because I know that millionaires are made in a down market, and that's where we're at now.
00:54So follow me to learn more about how to actually grow that wealth.
Comments