According to Financial guru Alijeffty C Gonzales there are around P7.8 trillion money sleeping in the banks earning 1% or less per annum as interest given to the depositor(actually lender to the bank in truest sense). While the average inflation rate is around 4% your savings gets only 1% or less thereby losing the purchasing power year after year. People trust banks because of the feeling of being safe. Why I cant understand is, if they trust their bank why just lend money to them, why not own them and share in their profits? Please note that stocks of these banks are listed in the stock market. Do you know that it will just take you P18k to own at least a share of the top 10 most profitable companies of the Phil.? Thanks Sir Jeff for the very enlightening talk yesterday. Now I believe that the most important meeting is the meeting you missed! Happy investing Team Trailblazers and Millionaires Club!!!
Posted on: Sun, 25 Jan 2015 04:57:58 +0000
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