The Bank Crisis

avatar

The talk around town is bank failure. It's been a big topic in our living room, too. Jeff is concerned about the future of our finances. We both have money in 401Ks. We moved our respective 401Ks last year out of stocks and moved them into Money Market accounts. Considering the events in the past year I think we acted wisely.

I've watched the feeds on Twitter and listened to Jeff and my son hash over the finer details of the state of banking and considered their speculations. We watched a video of Janet Yellen yesterday which points to preferences being made for big banks and leaving the smaller banks without insurance for situations like have occurred with the banks which collapsed.

My guess is this is just a starting point and everyone needs to carefully consider what money they've invested and where.

I am praying for God's guidance. He reminds us that all we have He provided and He is in charge of protecting and preserving us. I am not afraid of the future, but I'm preparing based on wisdom.

Thank you for reading 📚.
AIArt created in ArtBot

This is my five-minute freewrite
using prompt bank failure by @mariannewest. I challenge you to join the challenge and add @freewritehouse for regular contests!


rose7.png

hive-161155 aliveandthriving aiart neoxian ocd cats
0
0
0.000
14 comments
avatar

I hope for the best in the banking situation there in America. scary t think there has been a problem in such a big bank.

0
0
0.000
Reply
avatar

pixresteemer_incognito_angel_mini.png
Bang, I did it again... I just rehived your post!
Week 148 of my contest just started...you can now check the winners of the previous week!
!BEER
7

0
0
0.000
Reply
avatar

We do not have a 401K or any other retirement account or much money in the bank, but I understand why you and many others are concerned.

0
0
0.000
Reply
avatar

I don't have much, personally, because I was a stay at home mom and homemaker for the first twenty years of my adult life. I started working at thirty eight but couldn't afford two invest anything. This employer is nice in that they will contribute for the first 3% of your income that you at a 100% and then for the next 2% at thus they match it at 50% of what you invest.. I have been investing five percent since I started here in two thousand and eleven.
!ALIVE
!LUV

0
0
0.000
Reply
avatar

I do not know anything about 401K but anytime you can get an employer to contribute, it is a good thing.

0
0
0.000
Reply
avatar

That is exactly where I am :) my last job payed far to little to even contribute. I lived hand to mouth.
!ALIVE

0
0
0.000
Reply
avatar

God is not going to help us with this big finance game that is the folly of the greedy man.

The big fish eath the little fish and have more money to prop up a system designed to milk the masses under the guise of the American Dream.

Arming yourself with information, intelligence and control what you can for your family and your future will in your hands.

0
0
0.000
Reply
avatar

We are, of course, using the wisdom God gave us to plan and decide. Faith has been my guide and helped me all through the years I was a single mom working full time and attending college. Sometimes the provision was gifted to us, but I never stopped working and learning. Greed, yes, is the cancer at work now in the system.
!ALIVE

0
0
0.000
Reply