Time Depositors Aren't Real Investors

Time deposits could be one of ways to earn money. All you have to do is to deposit your money in a bank for a specific span of time, with interest. However, those interests aren’t enough to make you big bucks. You will feel the growth of money if you deposit at least a million.

Simple Sample Earning from TD per annum

The illustration above is a sample earning from time deposit. 5% interest rate is a very good rate that you can rarely find, but if you do, it requires you to deposit very big amount of money. However 3% and below is what you will usually find in banks.

Let me give an example, imagine you’ve deposited Php 100,000 and the bank gave you 3% interest rate per year. You would earn a puny Php 3,000 minus income tax! How lame is that?

Time deposit would not be very significant unless of course you have tens, hundreds of millions of excess money to put aside. Time deposits doesn’t give you the privilege of being lazy! Saying “right now it’s the only option I can think of “ or “risks in time deposits are low” are very lame excuses. You’re either too dumb to see/know that there are other opportunities or you’re a chicken – scared of risks. You want very low risks for your money, you will definitely get small returns. Hate to break it to you pal! You’re not a real investor! You don’t even have the right to call yourself an investor if time deposit is the only thing you do.

Now, I am not saying that you shouldn’t place your money in time deposit. All I’m saying is that time deposits is a tool to give you money ONLY if you know how and when to use it. And time deposit are intended for excess (I mean really many) money you can set aside for a specified time.

The good thing though, you still have time to explore other ways to earn passive income. All you have to do is delete the poor mindset of yours and change it to a wealthy mindset. You’d surprised how many opportunities passes us by each day. -DE

To a wealthier mindset and brighter future ahead! Cheers!

“Only those who will risk going too far can possibly find out how far one can go.” – T.S. Elliot