Today's episode is targeting folks who have the means to put their money to work but decide to leave it in their savings account due to fear of separation, lack of knowledge or both.
I met with a friend of mine a few weeks ago who was keeping 5 figures in their savings account with maybe a 0.20% APY. I was initially shocked, then disgusted and finally hopeful.
I was shocked because i could not believe someone kept all that money in their savings account and had NOTHING invested.
I was disgusted because I knew, every year that money sat in that savings account it was losing its value where that money could be earning at least 6% (conservatively) in the stock market.
I was hopeful because now they saw the light, and was willing to get started with investing some of it. Understandably, there were still some hesitation but that not only is that expected, it is welcomed. It means, when they see how much their money is growing they will be glad they finally started.
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