Credit unions, or savings accounts?
That’s what you may be thinking as you read this article.
The financial sector is a great place to invest for the long term, but many are finding it a little hard to decide.
The credit union and savings account market has never been this crowded, and now the industry is in a tailspin.
The financial sector, which is currently in the throes of a severe credit crunch, is experiencing the same issues we saw during the financial crisis.
While there are plenty of people out there that are looking to invest in the sector and it is not uncommon for people to get stuck in the middle, there are some things to consider before investing in an investment bank.
Here are a few reasons why you should not invest in an industry that has experienced the worst financial crisis since the Great Depression.1.
Investing in an unregulated market means there is no regulator and there are no rules to follow.2.
The market is too volatile.
There is little regulation, and there is a ton of risk to your investment.3.
There are no quality checking institutions or high-quality credit unions.
There has never seen a time in the history of the financial sector when a company went bankrupt due to bad decisions by its owners.5.
Your savings account will not have the same protection from bad financial decisions as your bank account.6.
Invest in an area where you can have control over your money.
Invest with your own money.7.
The industry has been through multiple rounds of crisis, so it is safe to say that you are dealing with the risks.8.
The banks have never seen the kind of market volatility that you have seen in the financial industry.9.
There have never been high-profile scandals involving the financial institutions.10.
It is unlikely that the current crisis will last much longer than five to 10 years.11.
Credit unions and savings accounts are risky investments.
The amount of money you need to make in order to get started can easily outpace your savings account or credit union account.12.
There will be higher fees for you if you decide to go with an investment banking firm.13.
There may be higher transaction fees for small investors.14.
Credit union and financial institutions are not regulated by the Federal Reserve.15.
There were no major financial crises in the past five to ten years.
It’s not too late to take action, and your money is still yours.
You can learn more about the financial meltdown here: Financial Advisors for Retirement: The Biggest Fortunes and Bad Luck in the Financial Sector