Join us as we welcome the IMPower Center for a four-week series on what it means to take control of your money. In this final course, we learn about managing our investments & becoming an owner.
When we get paid, most of the time our money gets deposited at the bank. We trust them to keep our money safe, and we assume they have our best interests in mind. But what is the bank doing with our money while it sits there? Are there rules to money they're taking advantage of with our money? If they really had our best interest in mind, why don't they share those rules with us? If they really had our best interests in mind, why aren't more of us doing better financially? How can we use those rules to our advantage so we can start winning the money game?
Everything gets more expensive over time. Popcorn, a Coke, and two movie tickets used to only cost a nickel. Now to have that same experience can cost as much as thirty dollars per person. Gas goes up all the time, which increases the cost of food at the grocery store, as well as the cost to get there. If inflation is a constant thing, then every dollar we have loses power over time. If we save our money over time, that's great. but without investing that money somewhere that can combat the power of inflation, we're essentially losing money. Where we invest makes a big difference in our financial destination.
We've all heard stories of that guy who invested in the right thing at the right time and got rich. But those stories are rare, which is why we hear about them. For most of us, investing with others is not only safer, but can also give us a significant edge over the lone wolf investor. Trying to time the market can be no better than gambling. But riding the ups and downs of the market with consistency and a cool head can prevail even the worst of financial times.
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