This really disgusts me ………

I DO NOT like the fact that banks have Investment People. I DO NOT like the fact that the bank tellers hound you to go talk to their investment people.

It’s not right. It’s not even moral. Banks are supposed to be REALLY, REALLY safe places to keep your money.

Not a place for Grandma to get suckered into moving her CD money into a stock or a mutual fund by some 21 year old “Investment Person”.

I’m sure there are good advisers at banks, but it sure seems like a conflict of interest to me. It’s like little goldfish swimming into a pool of piranhas.

  • If you want investment advice seek out a great Investment Professional
  • If you want Bank accounts seek out a great bank
  • If you want precious metals, seek out someone who specializes in gold and silver
  • If you want annuities, seek out someone who specializes in annuities

There my rant is over.

So what set me off?

I was logging off my checking account the other day. This screen popped up.

clogonReally?…….. My bank is telling me now  to put my money in the stock market. What the heck? The market is up 122% over the past 5 years without a major correction, and you Banking Geniuses are NOW telling me it might be a good time to put my money in the market. Where were you 3 years ago?

Are they smoking crack? Seriously.

Here’s a chart of the stock market for the past 15 years.

If your money was safe and sound in a Bank Account, and you look at this chart, would you think NOW is a good time to add risky equities to your life?


Speak Your Mind