Topic: Investment the way to economic stability - page 4. (Read 550 times)

There simply aren't many people who have the slightest of financial freedom to even think about investing, let alone saving.

I do get that investing is very crucial in terms of setting up yourself for later in life, though if one is just making ends meet, from paycheck to paycheck, how could you expect them to be thinking about investing when most of their money are already allocated on something up to the last cent?

While I do agree that the problem is mostly financial literature and whatnot, I also think that the problem stems out even further because of low minimum wages. Not everyone of us lands on a pretty decent job to begin with, plus not everyone is handed the same opportunities. If opportunities are great from all fronts of the economy, then I think a lot of people would be thinking about investing and saving, and not what they'll be putting on the plate for the next few weeks until paycheck.

If you dig into the rabbit hole deep enough, you will understand that it's not that people don't want to invest or learn, it's just that most of them don't have the means to risk something to begin with.

Investment isn't risk-free as there are many market crashes, so it's not a miraculous medicine that can cure all your problems. To have stability, you need a continuous stream of income. $1M is not big if you think it is the accumulation of income. Let's say you need $10k per month, and it will only last for 100 months.

In a scenario when you put it on investment that yields a 5% yearly return, your income will be $50k per year, far from the hypothetical expense of $10k per month. And all that will be different if there is a market crash.

When you talk about investment, one thing coming to my mind is
the kind of investment you do.. I know many old people now who invested in their young age but now that they are old, they can't point at any of those investment they did back in time past. They have nothing to run to because some of those investment they did couldn't stand the times but to disappear into tin air. I know many investing into transportation where they have no knowledge and no skilled person to manage it and pay returns to them and that is the issue.

Many investors only rely on their own knowledge which is not enough and they jettison the advantages of partnership. Also, some investment need some insurance policies incase of circumstances beyond human control and eventualities like arson, accident etc. This brings in the government in your investment because some want to avoid this because of tax etc but it is important. Businesses or investments like transportation, banking, estate and properties require that we tie them up with government and insurance companies incase of challenges that will always come in investment.

However, such kind of investment like cryptocurrency does not give much challenges if you are only hodling for long time because your sole aim is to sell off at high price and I advise is a kind of investment good for old age.

Young people therefore should learn to run under quality investment and learn from the mistakes of older people. A wise man learns from people's mistakes.

Investment is an essential part of life that many people failed to see. Some never planned or did any of it just because they are scared or clueless but little do they know, they are missing out the thing that will secure their future. Some ended up being a slave by the people who are on the top just because they chose to cage themselves on a never ending cycle of earning to spend. If only everyone is aware and willing to know the importance of investment, the poverty rate will surely decrease a lot but unfortunately, there much more people who settled for less and only thought about how to spend their money tomorrow without thinking what will they have to spend in the future.

invest for future perks, that's the important point implied in your thread. because all refer to it. when you have money and prepare for old age, investing is a way out to meet financial needs in old age.
however, not a few of them invest, but ultimately cannot enjoy the benefits when they are old, due to the wrong choice of targets to invest in. so to plan your financial needs in the future, you have to really know where your funds will be invested.

must be clear and know the potential in the future.
and for me the right answer remains in Bitcoin.

I fully agree, if we can't make 10,000 USD grow than we probably can't grow 1 million either. We need to follow a strict investment plan to protect our funds. The only difference is that with 1 million we could outsource the investing much easier. With such kind of money we are a complete different customer to the bank than with our small portfolio. But even if we have an investment manager we need to understand the basics so we don't get scammed.

you don't have to have a big house to be considered financially stable. you can be a minimalist as ever but still have the money that you won't have to worry about if anything happens to you or your son/daughter, you can assure yourself that you can give them a good education and health program.

just be good at whatever you have started before you get into investment. if you are a cook then be the best cook that you could ever be and serve your customer's order while you have an investment too. don't retire all because you have $1M. $1M is just a small amount to spend so don't tell anyone you have that amount. money can all be gone in just a day if one night someone robs you.  the important thing is your peace of mind and not worrying about anything and that can be an economic stability.

I assume that is all about the financial management if you become millionaire someday may be by chance Or after very hard work.
While I was reading your post I suddenly remember the story of one guy named Mr. Sushil Kumar from India who became millionaire overnight. Well, he was winner of "Kaun Banega Karodpati" (English Translation: "Who will be the millionaire") show hosted by Mr. Amitabh Bacchan.

Sushil Kumar won 5 crore INR i.e. around 50 million INR in Indian currency.

With this much amount you can leave hell lot of lavish life! You can stay in 7 star hotels whenever you want, you can travel the world twice or may be thrice if planned well.

However, this guy lost everything in just single year.

Surprised? But it's true. Because this guy had no plans, no financial management pillar and neither he took advices for setting up investment plans from anyone.

He spent more than half of his assets on the Charities BUT, turned out he was scammed by fowl charity institutes who knew he had won the money from KBC show.
The story is worth reading and you must take lessons from this!

The whole Story: KBC 5 winner Sushil Kumar reveals how his life turned miserable after the show

I understand the title of your thread but when you go on to explain it I don't understand you very well. It seems to me that you beat about the bush. I would summarize it in that if in the future you want to be better off financially than you are today, whether you want to be rich, a millionaire or simply have economic stability, what you have to do is invest in financial assets. Since we are in a Bitcoin forum, to say that the best seems to me the Bitcoin, but try to have at least a paid house, and you can add something from the stock market, stocks or mutual funds.

Anyway, buy assets. If you want to be poor, just spend all the money.

You don't have to be earning $1m before you be rich you can have that amount and if you don't have a good investment platform it's very possible that you'll return to the broke stage you left. The importance of investment is so clear that I get shell shock when I found out many people don't even have an idea about that talk more carrying out. For instance covid-19 took everybody unaware many lost their job, financially people and organization was affected, but let me tell those who had a good investment platform will not be affected that much, many think you need a huge amount of money before they could consider doing investment.
You can stay with a little but if you can discipline yourself couple with you having a good investment platform that implies you're already planning for Future.
The role of investment can't be over-emphasize, we all should  cultivate that habit and most importantly we should read to k or consult an expert so you can be assured you're doing a nice investment.