Cash is Trash- $100 shrinks to $47 in 10 years (Purchasing Power)

Send us Fan MailSeason 2 Episode #25 Not Me, But You! Podcast. If you enjoy my content, and want to support this podcast, click the referral link for I Trust Capital dot com. Currently, this is the only place I know of on planet Earth where you can buy/sell Bitcoin (and other crypto) plus gold/silver INSIDE of an IRA. I have a ROTH IRA at I Trust Capital dot com. Click link here: https://itrustcapital.com/?referral_id=AAWC4U&utm_source=RAFHow inflation causes the "purchasing power" of our currency to decline rapidly over time. This phenomenon is why "storing" your wealth in cash is trash! It's a bad idea, because your pile of money, in 10 years, will buy much, much less than it will today. I use the example of how $100 sitting in a bank account, for 10 years, will only buy you $47 worth of stuff (non interest bearing to demonstrate how inflation erodes purchasing power of money). Use your favorite search engine online and research the history of Rome and how Rome kept debasing their money, which led to their eventual downfall. If you want to be able to afford to retire one day, then you have to buy/hold assets that beat the rate of inflation. Grow your cash flow (dividend stocks).  Grow your pile of money (growth stocks, Bitcoin) If you dividend stocks price per share drops, don't panic. Dividend stocks are like dairy cows! Just keeping adding more cows to the farm and continue to "harvest" milk (A.K.A dividend money). It's important to hold assets that will match and/or beat the true rate of inflation. By doing this, you will preserve purchasing power of your "pile of money." My favorite platform to use when buying/selling stocks/ETF's/closed end funds is Schwab. com. I love using their phone app and their website on my desktop. Plus they have excellent customer service! When I call, I easily get to speak with a human being! Have courage today, to pick one thing, and work on your dreams. I'm not a financial advisor. This podcast is for education/entertainment purposes only. You will need to do your own research and accept responsibility for the results of any money you choose to invest. I love using Schwab.com to buy/sell stocks/ETF's/closed end funds/options. Schwab has a very user friendly app/website and their customer service is excellent. I can easily get to speak to a human being whenever I have questions.