How Do You Become Your Own Bank? (Douglas Andrew)

A Clip from Money Revealed Episode 8 is here and ready to shake the financial world.

Douglas Andrew, Author, and Financial Strategist

The video covers the following subjects:
- What can you really do with your money?
- What do banks really do with your money?
- What is OPM?
- The velocity of money
- How many times does the average bank turns over the same money they lend?
- Are producers rigged by the system to work forever?
- How do you become your own bank?
- What is the best-kept secret in the financial world?
- What are the 3 dimensions of wealth?

[YFolermira]

Getting a head start by beginning to invest early is the most effective way to build wealth, with investment taking precedence. I've learned from last year's experience that starting early allowed me to create a better life through early investments this time around.

[Riggsnic_co]

A perfect storm is brewing in the United States. Inflation, bank collapse, severe drought in the agricultural belt, recession, food shortages, diesel fuel and heating oil shortages, baby formula shortages, available automobile shortages and prices, the price of living place. It's all coming together and it could lead to a real disaster towards the end of this year (or sooner). With inflation currently at about 6%, my primary concern is how to maximize my savings/retirement fund of about $300k which has been sitting duck since forever with zero to no gains.

[LupeBaptista]

The failure of banks in addition to global economic crisis has left the markets in shreds. I'm at a crossroads deciding whether to hold on cash or put money in the stock market, and it's uneasy for me to not panic after a recent awful divorce, my goal is to retire with $3m

[AveryFossen]

Since Biden took office, there seem to have been more unfavorable results in America. I am really worried about the current bank crisis/interest rates, these are all the signs of yet another 2008 market crash 2.0, so my question is do I still save in the United States dollar or is this a good time to buy gold?

[oliviaralston]

You work for 40yrs to have $1M in your
retirement, meanwhile some people are putting just $10K in a meme coin from just few months ago and now they are multimillionaires.❤.

[kemsat-nh]

I feel like this guy owes +70% of his success to his voice.

[raw-earth-exploits]

The Title of this clip is: Be your own Bank. After understanding where the banks put their money, “Insurance Companies”.
I want to know how to become my own Insurance Company???

[cassiejacobs]

"if you don't find a way to make money while you sleep you will have to work hard until you old".

[Fernando-ssjk]

<>Investments are a means of providing funds for the generation of future income or profit. Investing allows individuals to set aside money while they go about their day-to-day business, let the funds work for them, and earn income for their future work. It is important to invest wisely, make informed decisions, and carefully weigh the potential risks and rewards associated with each investment opportunity. That's why I work with Sherman Williams Trading because he has profitable strategies<>

[roythurston]

Listened to this a few Times & some of this stuff still went over my head . Gotta listen again

[stevensmiddlemass]

"Big Short" investor Steve Eisman said the sizzling stock market rally of 2023 can run on as long as the US economy stays strong. I’ve been sitting on over $745K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?

[LisaApril]

What kind of insurance account are the banks using? That was not answered as far as I could tell. The guy who borrowed $1 million from his insurance account, what kind of insurance account was that? People who talk about this stuff but don't give specifics makes me suspicious. Or am I supposed to buy his book to find out?

[coastalbeer]

Talk about beating around the financial bush. I listened to this three times and have no idea to do what he describes! He was clear...as mud!

[baileymclean]

Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market

[janshuster]

How to ne your own bank ?

1) put money in a bank
2) when you want to buy something, take it out, then pay it back with as much interest as you want.

Or
3) Invest the money in the stock market, when you want to buy something borrow on margin ideally from Interactive Brokers which has the lowest margin rates.

[blueskys]

If the insurance company goes under your money goes under also and your money is not FDIC or NCUA insured thru them. The banks at least ensure your money up to 250K per bank for the investor or non investor. For a non gambler your safest bet is putting your money in a high-yield interest CD with a bank or Credit Union.

[charleskaren]

If you wanna be successful, you most take responsibility for your emotions, not place the blame on others. In addition to make you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life.

[jmackinjersey]

This is pretty much a super simplified version, but it gets the main point across that we are not taught the basics of finances in school any longer. However, keep in mind that it is not as simple as opening a life insurance plan. It has to be a specific type of insurance plan, and you must set it up so that you can borrow against it and the tax portion must also be set up properly in order to be able to not only borrow, but earn the interest in a way that you are not over taxed, or even taxed at all. It is also wise to set this up so that it can become generational wealth and those younger generations will not be taxed or levied fines and penalties upon your passing.

[nyquil]

He forgot to talk about the cost of the insurance products. The commissions are huge for the agents.😮

[bernarddonald]

Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future. Putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for. Success depends on the actions or steps you take to achieve it. "You're not going to remember those expensive shoes you bought ten years ago, but you will remember every single morning when you look at your bank account that extra 0 in there. I promise, that's going to be way more fun to look at everyday", I pray that anyone who reads this will be successful in life