30. Why Having Your Money Sit In A Bank Account Is More Risky Than Investing

Listen as Adina, from Immigrant Finance talks about how It’s more risky for money to sit in a bank account than to invest. WHY IS THIS SO IMPORTANT? You need to know the pros and cons of how to navigate different financial products to build wealth for you and your family. Your money sitting in a bank account is not a real plan to build wealth. It DOES make sense for your emergency fund, but not much else. You will miss out on an opportunity of building real wealth.  Investing is an important tool for immigrants to learn about to build wealth. Although some investments can be risky if they try to beat the market, investing with a smart, reasonable, and long-term strategy can produce wealth that an immigrant family otherwise might not have been able to obtain. Many immigrants come to the U.S. for economic opportunity with only a little bit of money and the hope and dreams of working hard for a better life. By saving money alone, an immigrant is not as likely to build wealth than if he or she invests that money to grow with time. When investing is done in a responsible manner, saving money cannot compete. Smart, long-term investing can help an immigrant family to go from poverty and struggling financially to potentially a comfortable, middle class lifestyle building generational wealth. Want to learn more? This is just one great example of the kinds of things we teach in Immigrant Finance School (IFS). IFS is our 6 week group coaching program for immigrant families. We empower people to make that shift from surviving to thriving to build generational wealth. So if you'd like more information on how to move from surviving to thriving head on over and apply at ImmigrantFinanceSchool.com or DM us for a direct link.