Monday, February 10, 2014

Pick The Right Tool For The Right Job

Inspired by a post from Jesse's Cafe Ameriain, "pick the right tool for the right job, and remember nothing comes for free." 

I thought this would be a perfect slogan for our U-Vault Account because if you're looking for wealth protection and savings then why leave it with an institution that does not use the right tools for the right job? Savings in a bank account are only as solvent as the insurance company (FDIC or CDIC) backing those savings. Did anyone ever ask WHY there is even limits to these deposit accounts? After all it's cash in the bank, right? NO, it's not; it becomes bank credit the minute you deposit your money. So why can't these deposit insurance companies insure 100% of your money? Because your money is NOT there anymore! The bank took it and loaned it out at multiples of what you deposited. This is called "Fractional Reserve Banking," a great tool for the banks but not for you. 

So if you're looking to protect 100% your savings, whether it's $100K, $500K or Millions, than the U-Vault Account is the right tool for the right job, because there are NO LIMITS to the insurance on the funds in the vault, unlike FDIC and CDIC. How you might ask? NO fractional reserve banking, just your wealth collecting dust in a fully insured vault that you can access anytime. Yes, it sounds boring because it is, but it's also the safest place for your money!  BK