Episode 24: Inflation is eating away at your savings! Artwork

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This podcast is for everyone trying to learn how to make money, save money, invest money and retirement planning. My mission however is to simplify these topics in order to help everyday folks, inner city kids, kids of many backgrounds, college graduates who want to know what's next and the parents stuck in deciding should they save for retirement or save for their kids college. As kids we should be thought about saving our money in ways that our money can grow and work us, we should be thought that retirement is not something you think about at 40, actually you can decide to retire at 40 if you do things right early. my dear parents, we worry so much about our kids that we forget about us, why can't we do both? Through this podcast we will be able to answer all those questions and many more topics. So join me as we leave broke behind and get financially woke.If you ever wanted to ask any questions, please email me at adriensalomon@dontbebrokebewoke.com or visit the @dontbebrokebewoke instagram page for daily content.https://linktr.ee/dontbebrokebewoke

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Episode 24: Inflation is eating away at your savings!

February 23, 2021 • Adrien Salomon • Episode 24

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.

If you ever wanted to ask any questions, please email me at adriensalomon@dontbebrokebewoke.com or visit the @dontbebrokebewoke instagram page for daily content.
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