Bank on Your Neighbor: The Audiobook - Chapter 6
Description
Is your money really safe in the bank? In this chapter, Mel pulls back the curtain on one of the most dangerous financial myths we’ve all been taught: that parking your cash in a savings account is the smart, “safe” choice. Spoiler alert—it’s not.
From inflation that eats away at your dollars like ice cream in the sun, to banks profiting off your deposits while giving you crumbs, Mel shows why leaving your money in the bank isn’t protecting it—it’s shrinking it. You’ll learn how inflation actually works, why 2023 was the worst year for bank failures since 2008, and how to reclaim your financial power by putting your money in motion.
This episode dives into appreciation vs. depreciation, sweat equity in real estate, tax strategies like depreciation and cost segregation, and the importance of cash reserves. Mel makes the case that real safety doesn’t come from hoarding—it comes from moving your money with intention to build freedom, purpose, and community wealth.
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