Banks make money with your money, while they also charge you service fees to keep your money. Banks’ financial advisors’ job is to make the customers apply for more services, specially for different investment opportunities that banks offer. There’s no doubt that banks are not after making their customers rich. They are after making more money for themselves. As far as I have seen so far, no customer has ever been benefited from the investment opportunities that banks offer through their financial advisors. They all lose money. Why?
Banks’ financial advisors always push their clients to buy. Whenever they ask you to go to the bank and have a meeting with them, they put several charts on the table and explain what will happen if you buy this and that share, mutual fund, etc. You must buy and hold for an unknown period of time, while whenever you check your account, you usually see that your balance is going down.
So they always want you to buy. Have you ever seen a bank financial advisor who suggests you not to buy anything and wait for a while? No! Even in the middle of the worst recessions, they always push you to buy, and they tell you that if you do it, you will make a lot of profit.
This is what the banks want them to do. Most of them know nothing about the economy, investment, market analysis, different companies and their shares, etc. They set appointments with you to push you to buy with the money you have in your account, because their supervisors want them to. Again, why?
If you lose money in your investments, the money goes directly to your banks’ pocket because banks are market-makers. Indeed, you are investing inside the bank’s pocket, not in the real market. Your savings are your money and you can withdraw them whenever you want. But, if you lose them in the investments that the financial advisors suggest to you, it will be in the bank’s pocket and won’t belong to you anymore. Indeed, when you lose, you lose to the bank, not in the real market. That’s why when you have a reasonable amount of money in your savings account, their financial advisors contact you all the time and ask you to go and see them. They don’t want your savings to remain your savings. They want it to get out of your control.
What happens if you win in one of the investment plans they offer you? Your profit is their loss, and so they will have to pay it. But this will never happen, unless you receive a small interest/profit gradually through a long-term investment. But even in this case, you will be the end loser again because the profit you receive is less than the value that your money loses because of inflation. Read this: 5 Things Everyone Must Learn from the Rich
The fact that they always ask you to buy, even in the middle of recessions proves that banks want you to lose. Does it make sense that while companies are losing their values, laying off their employees, and lowering their production rates, you buy their shares? Definitely not. But, banks’ financial advisors want you to do it.
Of course I must emphasize that what the banks’ financial advisors do is something that their supervisors want them to do. Most of them know nothing about what I explained above, and they really don’t know that they are causing you to lose money. They think they are helping you to grow your money. So, please don’t call and fight with your bank’s financial advisors. They usually have no idea at all. Banks just ask them to offer you some opportunities and convince you to buy, and they do it without having enough knowledge about it.
What should you do when financial advisors want you to buy and hold, especially now that the markets are going down?
Just tell them, “thanks but no thanks!”
If what they are offering you is such great investment opportunities, then why don’t they invest themselves and they want you to take the risk?
They want you to lose your money to them.
Therefore, keep your money in your savings account, especially now that the markets are going down. If your savings are enough to enable you to pay a reasonable down payment (at least 30%) to buy a property that you can rent and make money with, then do it. If they are not enough to do that, keep saving for now. This is a lot better than losing your money to banks.
Borrowing money from banks (mortgage) to buy assets that generate income, the way I explained above, is a good strategy to use these smart and greedy financial institutions to make you rich. You pay them their interest so that they are happy with it too. So, this will be a mutual deal between you and your bank. It benefits both of you. But, losing all your money to them the way they want, is not fair to you.
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