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Saving Money Will Make You Poor
The reality of large amounts of savings is that you gain very little return. Inflation can, in real terms, reduce the amount that your money is worth and without investment can remain inert. Harvey details how you can utilise your cash to create income more effectively.
KEY TAKEAWAYS
BEST MOMENTS
“High earning and wealth are two different things. But also if you save money,( you want to have a cash buffer by the way, don’t empty your banks of cash), the power of inflation erodes your money.”
“For every hundred pound there was only thirty pounds worth of buying power and the reason there was a massive shift in that is that they took off the gold standard. The banks and the government had to have enough gold in their reserves to be able to print at the equivalent amount of notes.”
“Governments have got debt and they like eroding their debt with inflation. Interest rates are low because the governments got debt, if they push interest rates too high their debts get harder to pay.”
EPISODE RESOURCES
How to Reduce Landlord Taxes 2019-20 https://www.amazon.co.uk/dp/1999640543/ref=cm_sw_r_cp_api_fabc_79R9ZHHR1A65RYM5YR4J
The Richest Man In Babylon: The Success Secrets of the Ancients--The Most Inspiring Book on Wealth Ever Written https://www.amazon.co.uk/dp/0451205367/ref=cm_sw_r_cp_api_fabc_MFM0MP7WF7AWGWYX5051
Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! https://www.amazon.co.uk/dp/1612680178/ref=cm_sw_r_cp_api_fabc_1MY8PQJN7R1NSN167V6P
VALUABLE RESOURCES
💻| Join us in our remote property investing Community on Facebook
📚| Live free training & Q&A every Sunday in the Community.
ABOUT THE HOST
Harvey is the founder of Growth Properties Group, a small group of companies that help people live on their terms through property.
With education, portfolio building, and property management.
He built his property portfolio and businesses in the Northeast of England, whilst living in the south, allowing him to spend time with his family and travel regularly.
Having built up the systems and team to run from his phone and largely on autopilot, he's now focused on helping others excel on their property journeys and build a remote investment lifestyle for themselves through group and 1:1 coaching programs.
His signature program, which runs 4 times per year, is the 6 Stage Remote Buy Refurb Refinance (RBRR) Blueprint.
I help people to live on their terms through property & Coaching and portfolio building.
I’ve spent the last 7 years working out how to run my property business virtually from my phone.
Using tech to run my business while I’ve been travelling.
DM me clubhouse if you need help with this.
CONTACT METHOD
👓| Find me on Facebook
👓| Find me on Instagram
👓| Find me on YouTube
👓| Find me on TikTok
This show was brought to you by Progressive Media
View all episodes
By Harvey GrowthPropertiesThe reality of large amounts of savings is that you gain very little return. Inflation can, in real terms, reduce the amount that your money is worth and without investment can remain inert. Harvey details how you can utilise your cash to create income more effectively.
KEY TAKEAWAYS
BEST MOMENTS
“High earning and wealth are two different things. But also if you save money,( you want to have a cash buffer by the way, don’t empty your banks of cash), the power of inflation erodes your money.”
“For every hundred pound there was only thirty pounds worth of buying power and the reason there was a massive shift in that is that they took off the gold standard. The banks and the government had to have enough gold in their reserves to be able to print at the equivalent amount of notes.”
“Governments have got debt and they like eroding their debt with inflation. Interest rates are low because the governments got debt, if they push interest rates too high their debts get harder to pay.”
EPISODE RESOURCES
How to Reduce Landlord Taxes 2019-20 https://www.amazon.co.uk/dp/1999640543/ref=cm_sw_r_cp_api_fabc_79R9ZHHR1A65RYM5YR4J
The Richest Man In Babylon: The Success Secrets of the Ancients--The Most Inspiring Book on Wealth Ever Written https://www.amazon.co.uk/dp/0451205367/ref=cm_sw_r_cp_api_fabc_MFM0MP7WF7AWGWYX5051
Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! https://www.amazon.co.uk/dp/1612680178/ref=cm_sw_r_cp_api_fabc_1MY8PQJN7R1NSN167V6P
VALUABLE RESOURCES
💻| Join us in our remote property investing Community on Facebook
📚| Live free training & Q&A every Sunday in the Community.
ABOUT THE HOST
Harvey is the founder of Growth Properties Group, a small group of companies that help people live on their terms through property.
With education, portfolio building, and property management.
He built his property portfolio and businesses in the Northeast of England, whilst living in the south, allowing him to spend time with his family and travel regularly.
Having built up the systems and team to run from his phone and largely on autopilot, he's now focused on helping others excel on their property journeys and build a remote investment lifestyle for themselves through group and 1:1 coaching programs.
His signature program, which runs 4 times per year, is the 6 Stage Remote Buy Refurb Refinance (RBRR) Blueprint.
I help people to live on their terms through property & Coaching and portfolio building.
I’ve spent the last 7 years working out how to run my property business virtually from my phone.
Using tech to run my business while I’ve been travelling.
DM me clubhouse if you need help with this.
CONTACT METHOD
👓| Find me on Facebook
👓| Find me on Instagram
👓| Find me on YouTube
👓| Find me on TikTok
This show was brought to you by Progressive Media