Episode 98 - What is Happening in the Banking Industry? With Mark Willis, CFP®
Thinking Like a Bank
English - May 11, 2023 00:25 - 26 minutes - 23.9 MB - ★★★★★ - 41 ratingsEntrepreneurship Business Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Today, Mark Willis of Lake Growth Financial Services and Sarry talked about what is happening in the banking world, specifically why banks are in danger. As we record this episode in mid-2023, we'll also discuss what depositors and customers need to know to protect themselves in these uncertain times.
🔥 This episode talks about:
☑️ What are the current challenges in the US banking sector?
☑️ The difference between how banks store money vs. insurance companies.
☑️ Advantages of life insurance companies over banks in terms of safety.
☑️ What do mutually owned life insurance companies do with your money?
☑️ Mutually owned life insurances vs stock-owned insurance companies
☑️ Potential negative impacts of the banking industry and what can happen to the depositors.
☑️ What is the FDIC and how does it affect the banking industry?
☑️ Other than banks, where else can you save money?
☑️ Borrowing from your life insurance policy vs getting a loan from a bank.
☑️ Which is better? Life insurance policy loan or a home equity loan in terms of interest rates and control?
☑️ What is the difference between simple and compound interest?
To connect with Mark Willis, please visit:
👉Website:➡️https://lakegrowth.com/
👉Linkedin: ➡️https://www.linkedin.com/in/marklakegrowth
👉Facebook: ➡️https://www.facebook.com/lakegrowth
👉Twitter: ➡️https://twitter.com/LakeGrowth
👉Instagram: ➡️https://www.instagram.com/notyouraveragefinancia/
👉YouTube:➡️https://www.youtube.com/channel/UCw-DvhKT2EaPFdncLy39LIQ
👉Not Your Average Financial Podcast: ➡️https://nyafinancialpodcast.com/
👉Book: 📚 Amazon: Mark Willis Book
👉To learn more about what we do and how we can help you grow more wealth, please visit ➡️ https://finassetprotection.com
👉You can also schedule a free call with us: ➡️ https://calendly.com/financialservicesins
📢💡 📚 Free "Thinking Like a Bank" ebook. Learn to think like a bank by downloading a free copy here: ➡️ https://thinkinglikeabank.com
🚧 👉 **Not intended to be financial advice. Please consult a professional who knows your specific situation.