Banks Failing? What Should I do Now?

Just recently, we witnessed a US bank's biggest failure as the tech industry's primary lender succumbed to a classic bank run. The collapse triggered market panic as bank customers frantically tried to recover their money. Within the same week, a few more major banks ran into trouble. With banks failing, people are asking, "Is my money safe?"

In today's episode, Russ and Joey talk about recent events and share their insights on the places where you can put your money instead of keeping it in the bank. They also discuss their Passive Income Report for February 2023, and the numbers look great.

If you're wondering what to do when banks fail, this episode is for you.

February 2023 Income At-A-Glance:
Gross Income for February: $132,273.45
Total Expenses for February:$71,088.88
Total Net Profit for February: $61,384.57
Difference b/t January & February: $23,317.12
% of net profit to overall gross revenue: 46%

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09:04 - What's happening to banks? Why are they failing?
12:51 - How does all of these crisis impact insurance companies?
18:40 - What happens when the bank we use for our Line of Credit goes bankrupt? How long would that tie up my access to cash? What approach are we taking, and do we need to exit that approach?
28:58 - Why do they have to go to whoever the collateral assignment is against before they can get us, the owner of the insurance contract, access to more money?
33:18 - What happens going forward if we see a major financial crisis here and people are having trouble paying us back on these land loans? What would happen to us?

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www.wealthwithoutwallstreet.com/podcast/banks-failing-what-should-i-do-now

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