Banks are they really a good idea???

Yes, I have a couple of US credit union account and a couple of offshore accounts but do I depend on banks? No not at all and here is why. back in the the day you could expect 6% to 8% on a standard saving account and possibly up to 12% on a high yield account or CD ( Certificate of deposit  ).

I keep a limited amount of living expenses money in my US credit union accounts and any other money in savings accounts abroad. One reason that I only keep limited funds in US accounts is that it is NOT profitable.

If you were to deposit $100 on January 1st by December you would have earned 1 penny in interest based on the interest rate of .001 % Does not make any sense does it? Now if you were to invest the same amount of money every month into a Mutual Fund or other type of investment that you would a savings account you could be earning from about 4% to 12%. Would you not agree that this makes more sense?

Banks serve 2 major uses:

1) If you have large amounts of money they are insured FDIC to $100,000 per account
2) They are useful for paying bills electronically

That's their only real use in todays world. later I will explain about better protecting your assets , yourself and family in regards to banking etc