Kim and Spencer focus on the safest ways to store savings during uncertain times for banks, considering alternatives like mutual life insurance companies and T-bills. The expert, Kim, explains mutual life insurance companies as a secure place for storing cash value, emphasizing the safety of the institution in comparison to banks with fractional reserves. She also encourages people to focus on what’s within their control as the dollar isn’t going away any time soon and banking systems will continue to be in place. The importance of long-term thinking and following principles is highlighted as essential to financial prosperity.
Best-selling author Kim Butler and Spencer Shaw show you how to take more control of your finances. Tune in to The Prosperity Podcast to learn more about Prosperity Thinkers thinking and strategies today!
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Show Notes
- How’s the safety of banks and savings accounts now?
- Mutual life insurance companies as an alternative place to store money
- Prepaid premium accounts in life insurance
- Mutual life insurance companies backed up 100%
- The dollar is still being used by 57% of countries, unlikely to vanish soon
- Cash accessibility is changing, banks storing less physical cash
- Necessity of adapting to current financial systems and control
- Storing cash in T-bills or real estate
- Life insurance as an alternative to T-bills and T-bonds
- Long-established banks and credit unions as safe options for cash storage
- Equity in real estate may be a risky place to store cash
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Disclosure: Our content is meant for educational purposes only. While it’s our goal to help you learn about building a life of prosperity, we do not intend to provide financial advice. Please consult your financial, tax or legal advisor before making any investment or financial decisions.