Money in the Bank

I was recently in my friend’s car involuntarily listening to mainstream rap and R&B. The song Glamorous by Fergie caught my attention when I heard the phrase “I’ve got money in the bank” be repeated a good number of times. I would put this phrase on par with “pimpin ain’t easy” or other ubiquitous phrases that I have become desensitized to. However, when I heard “money in the bank,” I thought to myself, “why would I want to put my money in the bank?”

Putting your cash in the bank is one of the worst ways to stash away your money. In an interest yielding CD, you are going to make about 3-5% annually; this doesn’t even account for possible inflation! I would put my money into a mutual fund, hedge fund, or invest in real estate. They should change that phrase to “I’ve got money in a 20% yielding account,” maybe I would change the 20% to 50% because those rappers love to be sarcastic with how much money they really have.

This just goes to show that rappers and/or R&B artists don’t know how to manage their money. They just happen to be a human asset in the music industry. Unfortunately, human assets have the option of quitting whenever they want so we must pay a hefty sum to keep them interested.