Topic: Save while young better than wait - page 18. (Read 3290 times)
Saving whilst young is a great idea as it plants seeds to harvest when you are older. Do not save & store your wealth in fiat currency though because inflation will undo all your hard work. You need to invest in real estate, Bitcoin, stocks.
Look, you can be old and rich or young an poor, but being old and poor is bad shit.
A surefire way of doing the wrong kind of things is to spend your money early or try to live a good life quickly without thinking about the future. Or if you have an ok job or income to think that is enough, even if you cannot save.
All young people, understand that time an money are linked. It is not the same to invest early than late, it is not the same to invest more early that try to invest more later. 100 is worth 100 today, but 800 in 20 years if you play it safe but well. Make no mistake, you will need to start creating your wealth.
A surefire way of doing the wrong kind of things is to spend your money early or try to live a good life quickly without thinking about the future. Or if you have an ok job or income to think that is enough, even if you cannot save.
All young people, understand that time an money are linked. It is not the same to invest early than late, it is not the same to invest more early that try to invest more later. 100 is worth 100 today, but 800 in 20 years if you play it safe but well. Make no mistake, you will need to start creating your wealth.
It's a little different, but I'm not a young person, because I went through the same thing, so I realized that achieving something in life really has no specific rules, even saving up . What people look for in life in my opinion is happiness, and happiness also has its own standards from everyone's point of view, and that can include money, fame, love,... but in the end all of those things really bring satisfaction, and I know balance in life is the key point. Like a beggar would not really be able to understand the meaning of a Rolex watch bringing happiness, simply a full meal. So in each different life context we need to have balance to adapt to it. I think accumulation does not stop at money, as I mentioned about life balance, knowledge, health,... are also things that come with bringing a life in which we can be independent.
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It's impossible for people to disagree about this because living in the future is about choices made early on. If you want a sufficient future, saving from now on is an option. How to save can be interpreted differently, one of which is by investing.If you want a bleak future with a bad economy, the choice is to continue your youth with extravagant activities without feeling the need to save and not having to work hard like other people who want an easy and self-sufficient future.
Good write up. It is very important to make the time now we are young a productive one because this is the time we can make good investment for ourselves that can sustain us when we are old. If we don't make better plans for ourselves in this young age that we are energetic it will really be a problem when one is old. The old age time is a time to have good rest and to manage the little investment. Planning this young age should be the goal.
Look, you can be old and rich or young an poor, but being old and poor is bad shit.
A surefire way of doing the wrong kind of things is to spend your money early or try to live a good life quickly without thinking about the future. Or if you have an ok job or income to think that is enough, even if you cannot save.
All young people, understand that time an money are linked. It is not the same to invest early than late, it is not the same to invest more early that try to invest more later. 100 is worth 100 today, but 800 in 20 years if you play it safe but well. Make no mistake, you will need to start creating your wealth.
A surefire way of doing the wrong kind of things is to spend your money early or try to live a good life quickly without thinking about the future. Or if you have an ok job or income to think that is enough, even if you cannot save.
All young people, understand that time an money are linked. It is not the same to invest early than late, it is not the same to invest more early that try to invest more later. 100 is worth 100 today, but 800 in 20 years if you play it safe but well. Make no mistake, you will need to start creating your wealth.
I once argued with a young person who said that youth should not take life too seriously, just enjoy it, give yourself self-reward with spree, when he said that I could only mutter to myself "he will definitely fall very poor when he get old".
what you say is all true, that the discipline towards money that we do from a young age will be connected until we are old, so don't let the extravagance we make in youth have a bad impact in old age, there are many examples of people who are old and poor but when they are young they have a lot of money and potential.
It's true that while young, save so that in the future you can live more prosperously. precisely not saving but investing whether in stocks, mutual funds or in crypto. because if you only save, the value of the assets you have will be difficult to grow because bank interest rates are very small in value. and under inflation if you only save, it is almost certain that the value of your assets will decrease due to inflation.
Saving is just your first step, but eventually when your funds are big enough to make an investment, then focus on your investment. You cannot grow your money if you just let it sleep in your bank account, but if you decide to invest it in bitcoin or in any other physical investment like real estate, expect that you will see positive growth with your capital.However, do not put all your hard-earned money in a single basket but learn to diversify. That way, when one investment fails, at least you still have higher chances to profit from your other investments. But always leave sufficient funds too for your fiat needs, and leave some for your emergency funds.
Look, you can be old and rich or young an poor, but being old and poor is bad shit.
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I would rather be rich in my youth, or rather in my best years, even at the cost of having much less or being poor in my old age. When you're young, you have far more needs and things you need to accomplish, and for that you need a lot of money - and when you get older, your needs decrease more and more and the only thing that matters is your health.
Therefore, I would emphasize that we should be more careful in our youth about the way we live, because alcohol, cigarettes and fast food will only come to pay in old age. I have a saying that says "old age will ask you where your youth was" and there is some truth in that.
Being rich do not happen in an instant, so if you wish to get rich at your 30’s or 40’s, you need to start the process 10 years earlier. And that’s one thing that I regret. Although I don’t have enough means to save, but I believe regardless of your monthly income, it’s still a must to save even just a small amount.
Of course it would be a very bad thing if we chose to be old and poor, because if we are old and poor it will be very difficult because we have to keep working to be able to meet the needs we need.
Using the income we have on things we don't really need is certainly the wrong choice, because we can refrain from enjoying it and use that income to invest and we will be able to enjoy the results when we are old, if we have sufficient income and choose to I don't think there's anything wrong with living a good life without thinking about the future, but if we can invest early then we will be able to enjoy old age in a relaxed manner.
Investing earlier will certainly get different results from investing later with the same amount, so it would be very good if we have sufficient income so we can invest earlier and will certainly enjoy satisfactory results later.
Most nations do have houses that the government takes care of, where old people go and they are taken care of. I am not sure what happens to old people who have nobody and no money and they can't go anywhere, that must be very interesting situation, like do they just... pass away on the streets? Probably, that could very well be the problem as well.Using the income we have on things we don't really need is certainly the wrong choice, because we can refrain from enjoying it and use that income to invest and we will be able to enjoy the results when we are old, if we have sufficient income and choose to I don't think there's anything wrong with living a good life without thinking about the future, but if we can invest early then we will be able to enjoy old age in a relaxed manner.
Investing earlier will certainly get different results from investing later with the same amount, so it would be very good if we have sufficient income so we can invest earlier and will certainly enjoy satisfactory results later.
But in my nation, most elderly have a place to go, government has old peoples houses, it is basically like a hospital/hotel, where old people just send their time, and it is not great, but as a nation we decided to just take care of the people who can't take care of themselves. Same mindset as orphanage, you take care of the kids as a nation when there is nobody else that takes care of them.
Thank goodness that this has been instilled to me when I was still young by a lot of people all throughout my childhood, they really know what they're talking about because with all the money that I've saved through the years, I'm happy that I took the advice to the heart, I can eat wherever I want and go to places that I want without any worry about how much money I'd be spending. The only thing that I'd like to add to all of this is that we should also consider investing instead of just saving, that way the money that we set aside grows instead of just being on a standstill in terms of value plus you're defeating inflation when you're investing.
Actually, there are lots of tips about this. However, sometimes young people are often careless and are more interested in good relationships and a good lifestyle. this requires quite a lot of expenditure. If he has a lot of salary when he is young, then that is a good thing, but if not, then he has no plans to be rich in his old age because he wasted his money without investing. However, encouraging young people to save, invest or increase their assets is a very good thing, but it also requires proper education. So in this case, education is something that is really needed to encourage young people to invest at a young age
There is one thing I know too well, that it's not my fault I'm from a poor background but it will be my fault if I remain in that background.
Tho this is a very common phrase and it's true most of the time, but don't forget there is also structural poverty, in which people who come from poor background will remind poor not because they aren't trying hard enough but because they doesn't even has a chance to fix their economy. Climbing from a very poor condition to an upper-middle need a consistent effort in multiple generation time, it's not quick except there is enough luck.
It's true that while young, save so that in the future you can live more prosperously. precisely not saving but investing whether in stocks, mutual funds or in crypto. because if you only save, the value of the assets you have will be difficult to grow because bank interest rates are very small in value. and under inflation if you only save, it is almost certain that the value of your assets will decrease due to inflation.
It's always going to be better to be early in anything and there are a lot of actual results from people that started early and can possibly be worth more than just holding on to it. It somehow can apply to the HODL. Timing the market is hard but making trades and making sure that it is a surefire way to profit is better. So investing your money in a calculated risk is a great way to really actualize the growth of your money.
Look, you can be old and rich or young an poor, but being old and poor is bad shit.
A surefire way of doing the wrong kind of things is to spend your money early or try to live a good life quickly without thinking about the future. Or if you have an ok job or income to think that is enough, even if you cannot save.
All young people, understand that time an money are linked. It is not the same to invest early than late, it is not the same to invest more early that try to invest more later. 100 is worth 100 today, but 800 in 20 years if you play it safe but well. Make no mistake, you will need to start creating your wealth.
A surefire way of doing the wrong kind of things is to spend your money early or try to live a good life quickly without thinking about the future. Or if you have an ok job or income to think that is enough, even if you cannot save.
All young people, understand that time an money are linked. It is not the same to invest early than late, it is not the same to invest more early that try to invest more later. 100 is worth 100 today, but 800 in 20 years if you play it safe but well. Make no mistake, you will need to start creating your wealth.
It is not good to spend more than you need, but especially in youth, there is no sense of such things. It is natural that in youth one does not think about old age nor does it occur to him that one day he will become old and face financial problems. Some people may be serious about the future from a young age.
No doubt late investing and one income stream shouldn't be over-relied, but many people have problems that make it difficult to invest that seems easy to us.However, as people invested in Bitcoin in the beginning, today they are reaping the rewards of their investment. In the same way, we should also have such a thought.
Every young person at some point of age realizes that his life will be like this and he can continue like this but the reality is something different. I have seen many people who spent uncontrollably in their youth and lived a very good life in their youth but at some point of age they had to live a poor life. When we have the ability to earn money and when we have the strength of our body, we should think about the future, but the future will not be like this, and our future may be better than this. If a young person thinks that one day he too will grow old or his financial condition will deteriorate one day, but he must plan for his future. Wise people always think about the future. We who are young now should work hard enough now because while working now we should earn enough money and wealth by working hard now and we must think about it for the future.
Look, you can be old and rich or young an poor, but being old and poor is bad shit.
A surefire way of doing the wrong kind of things is to spend your money early or try to live a good life quickly without thinking about the future. Or if you have an ok job or income to think that is enough, even if you cannot save.
All young people, understand that time an money are linked. It is not the same to invest early than late, it is not the same to invest more early that try to invest more later. 100 is worth 100 today, but 800 in 20 years if you play it safe but well. Make no mistake, you will need to start creating your wealth.
A surefire way of doing the wrong kind of things is to spend your money early or try to live a good life quickly without thinking about the future. Or if you have an ok job or income to think that is enough, even if you cannot save.
All young people, understand that time an money are linked. It is not the same to invest early than late, it is not the same to invest more early that try to invest more later. 100 is worth 100 today, but 800 in 20 years if you play it safe but well. Make no mistake, you will need to start creating your wealth.
I agree that we need to start building our wealth as soon as possible when we're young. Instead of being distracted by short-term spending, I think it's better to invest in ourselves first, like developing skills to get jobs with higher incomes. After that, we can start investing in things like cryptocurrency, for example.
This is the worst thing that happens to young people in their early lives. They want to live a comfortable life quickly, but few of them take into account the future and save enough to have a secure future.
Young people cannot be blamed at this early stage of life because they are at an age where they do not fully bear responsibility and their thinking is immature, and this is the responsibility of the family in the first place and society in the second place in educating young people at this dangerous age.
Now that we have reached this advanced age, we have the experience to understand these things, but most of us may have made the same mistakes in our youth at the beginning of our lives.
Young people cannot be blamed at this early stage of life because they are at an age where they do not fully bear responsibility and their thinking is immature, and this is the responsibility of the family in the first place and society in the second place in educating young people at this dangerous age.
Now that we have reached this advanced age, we have the experience to understand these things, but most of us may have made the same mistakes in our youth at the beginning of our lives.
Creating financial freedom in the future is everyone's dream, of course, but it is also up to you to achieve it. Saving alone is not enough because the value can decrease along with inflation that occurs every year.
The best way for us to prepare our future funds well and make our savings more profitable is to invest, as you said, from 100 in 20 years, we can get profits many times over. Apart from that, in my opinion, to be able to have sufficient assets and savings, the key is management. I would rather save than buy something that is not a basic necessity. The savings calculation which always increases every month also makes me even more enthusiastic about saving and investing.
The best way for us to prepare our future funds well and make our savings more profitable is to invest, as you said, from 100 in 20 years, we can get profits many times over. Apart from that, in my opinion, to be able to have sufficient assets and savings, the key is management. I would rather save than buy something that is not a basic necessity. The savings calculation which always increases every month also makes me even more enthusiastic about saving and investing.
I agree with what you said. All of us here want financial freedom, and that's why financial freedom depends on our hands. There can't be a correct process; the other is the wrong process to achieve financial freedom.
Although we all know here that crypto can be an instrument for this matter of financial freedom, we know that cryptocurrency is not the only instrument to achieve financial freedom, just because we are here in the crypto space.
Look, you can be old and rich or young an poor, but being old and poor is bad shit.
A surefire way of doing the wrong kind of things is to spend your money early or try to live a good life quickly without thinking about the future. Or if you have an ok job or income to think that is enough, even if you cannot save.
All young people, understand that time an money are linked. It is not the same to invest early than late, it is not the same to invest more early that try to invest more later. 100 is worth 100 today, but 800 in 20 years if you play it safe but well. Make no mistake, you will need to start creating your wealth.
A surefire way of doing the wrong kind of things is to spend your money early or try to live a good life quickly without thinking about the future. Or if you have an ok job or income to think that is enough, even if you cannot save.
All young people, understand that time an money are linked. It is not the same to invest early than late, it is not the same to invest more early that try to invest more later. 100 is worth 100 today, but 800 in 20 years if you play it safe but well. Make no mistake, you will need to start creating your wealth.
It's about achieving the balance between today and the future. Everyone should have a retirement plan, some way of passive income stream till you survive.
Planning for future is something everyone must do without fail but it's also not worth living your present in the anticipation of hard times in the future. We should be enjoying our lives when we are young and able. Life wouldn't be as fun in the old age as it's today. Even though 100 may be worth 800 in the future but due to inflation, it might not be able to provide what 100 gives you today. And it would certainly not provide the youth energy and state of body.
Naturally. I think the only thing young people fear when starting to think about investments and whatnot is that the traditional stock market can be pretty hard to get into. At least in the past, I guess? Recently mobile wallet apps have them included as their service where they act as a proxy or something (idk how it works tbf, but they have it). Back when I was interested in stocks there was jack about it and I was really confused how to get into it which is why I just went into crypto instead.
Entering into the workforce solidified this idea in me more since my salary is bloody peanuts compared to the expenses you need to pay. And this is without a family to support, imagine if I planned to build one this early on. Glad I found side gigs I could use to support saving up really.
Entering into the workforce solidified this idea in me more since my salary is bloody peanuts compared to the expenses you need to pay. And this is without a family to support, imagine if I planned to build one this early on. Glad I found side gigs I could use to support saving up really.
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