Topic: Save while young better than wait - page 9. (Read 3152 times)

One question for you, have you done that (saving) correctly in your life? If you haven't done what you said, I think that's no different from empty talk. Because saving is not only limited to money if the dedication is for the future, moreover the value of things in life is not always the same so no matter how much money is saved it will still feel small when someone has to use more money. For example, when you are 18 years old and try to save in any way, the money you save will not feel like much when you are 60 years old because of the influence of the price of goods which always increases every year.

I agree more with the investment stage although I also wouldn't consider it wrong to save a person through fiat currency in life. Because this money can also be used as initial capital for investment and it is still quite possible to solve complicated things with money, but what needs to be understood here is that savings is not just about money. But also about other things such as gold and Bitcoin assets which are currently getting better so that people don't focus their minds on saving money even though they still have to work every day to earn money so they can get Bitcoin and gold as future assets that are better than just money

On the one hand, that's true, but I look more at the experience gained than what you do when you're young to create good habits so that these things will continue to happen when you get older.
The fact that saving while you are young will be profitable in the future is something that cannot be denied because as we know, almost all asset prices, whether real estate, shares or others, continue to increase rapidly over time and if we enter first it will also bring profits big ones in the future.

the rate at which time flies is crazy, just yesterday you where that little boy that needed people to give you guidance on almost every step you need to take and look at you now, it's just like yesterday and you've grown this big and have to literally depend on yourself for all the decisions you will need to make now.

The sad and beautiful thing about life is that if you choose to make something out of your life or not, time will continue going and she will continue to run out of your side. The youthful period comes with a whole lot of challenge and issues but if you make the best out of it, you becomes an hero in few years to come.

It comes just ones and if you fail to make the best out of it, it's gone and gone for good.

Save as much as you can while young, invest into yourself and into the people around you. Look out for quality asset and also invest into. Don't eat all that comes your way, take care of courself and still prepare for uncertainties in the future. This is just my little advice to all the youth that will find this helpful to them.

Living life within reasonable no standards is a form of coercion to appear more capable to other people and this type of lifestyle can make our lives more chaotic. Even though you have a good job, trying to live more simply is the right choice because we can manage our finances to be more stable and can determine savings, investments and business development for the future.

Creating wealth will be based on the level of ability to see opportunities and capital as sufficient supporting steps needed for the process. The younger generation must be able to see opportunities to develop themselves and the availability of opportunities is currently quite limited unless they master technology. Investing in bitcoin also requires money, although the amount can be adjusted and rarely to reach the stage of wealth if you don't have sufficient capital.

       -   Most of the young people have not yet understood that, to be honest, they have not thought about it yet. The only thing on their minds is that they can enjoy being young and being passionate. But if they put or use their passion in their future, it can happen that their future will be good for sure.

I remembered my father, who has 40 years of service as a government employee. He was still single when he was employed as a government employee until he got married. Now that he is a senior citizen, all the retirement fees he got have been used up, and his monthly pension is still lacking because he didn't prepare for his old age, and he didn't even build his own house because he neglected it too much and enjoyed his prime or youthfulness.

Well most mistake The Young ones make at their youthful stage is not learning to save up for a better future.
You know when you do so, you're accumulating wealth and let's say you started earning and saving from age 18,and then when you get to age 60.you must have accumulated a huge sum that will go along way and another thing is as your saving your perspective for spending such money and wealth should be put into better consideration,cause you can't save up and end up spending lavishly.

A saying goes "an early bird catches the work".when you save,invest and all of that at an early stage,you will rise up to a stage of generating a cumbersome of your dealings.

The main reason is compounding, if you can invest when young the actual amounts required are far less then the last minute contributions to something like a pension.   Same deal for savings towards a house mortgage or similar, the compounding on that debt is considerable.  If you do nothing but the minimum you will be very profitable for the bank buying not just one house but a second in effect for the bank who add this capital to their reserves for the cost and profits on lending to you.   If you can save and avoid this cost it will save you gigantic amounts that make you far richer when out of your twenties and free of this debt others have to repay still.

Investment is of course important, but only a few young people think about this, many of them I think only think about a lifestyle that is only temporary or you could say short term and don't think long term. In my opinion, if we are still young, there is nothing wrong with being stylish or spending the money we earn with what we want, because that also includes pampering ourselves and indeed every now and then we have to pamper ourselves because it is a form of self-appreciation. But apart from that, we also have to pay attention to other aspects such as the future, thinking about how to enjoy the future comfortably.

but if they have good thinking, I think they can invest in assets that really guarantee it, but before that of course there must also be consideration, don't make an investment without considering it well, even though the investment is relatively small, that doesn't mean it doesn't need to be considered, still you just have to consider it as carefully as possible. In fact, in my opinion, if you are still young and have the courage to start a business, that's good, because people like that, in my opinion, have the courage to move forward, with so many young people, in my opinion, many of them are reluctant to move forward, even if it's for their own good.

Exactly. Saving and investment are necessary, every one must have them. That's why we all must struggle to have them.
By investing in crypto coins, young people can have passive income. Bitcoin is a good choice to hold for a long time, so young people can get the passive income this. But if young people have good amount of money, having lands or real estate is a good option as well. Sure, it won't be easy to have this, especially for the young people. However, it is not something impossible to struggle having these since the young age.

I'm sure every one always expect to diversify their income. But not everyone may have the chance to diversify their income. For the people who work in the government institutions, they have too little time to have side incomes.

Some options for passive income:
https://www.investopedia.com/terms/p/passiveincome.asp

Some people will tell you the future is not certain so they spend the money they have while you’re still alive because death can come around any moment and when a person is dead all his savings will be spent by other people. Whenever a person tells me this i just shake my head and ignore them because i feel they don’t have any plans. People who say the future is not certain have lived 2 more years like a flash and before you know 5years will pass by like play and they will achieve nothing because of their mentality. Saving helps to secure our future that’s why it’s better to start at a young age before, but nowadays young people prefer spending money on worldly things rather than saving to have a better future.

In fact, in youth, it would be better if people learned to invest, and from the profits from investing, he learned to save. However, this is very necessary to achieve a better old age.
Many people we see just save their money, actually that's not wrong, but this will not bring us passive income. We need a business that can give us profit every month to meet our daily needs. So, it would be great if we learned that when we were young. Well, this is also a recommendation and suggestion for young people who have not yet taken action in this matter.

Saving is important, and investing too, but what's equally crucial for young people is experimenting. We know that to have a comfortable retirement, having passive income is key. And many retirees have businesses that run on autopilot.

It's not wrong for young people to start businesses hoping they'll grow by the time they retire. It can be an alternative to just relying on investment returns and uncertain ROIs. The point is to diversify income sources so that when retirement comes, we're truly settled.

Many people have come to such thinking, that it is always too late to realize. However, the chances remain, we can still do it as long as we are certain of our plan. Too late to realize which is why we don't have to waste our time now and grab the opportunity we see in the crypto market.

It is the government's responsibility but we should not rely on them instead, we make our way how to improve our living, and simply savings help a lot. But it never stops there, we also encourage ourselves to grow and multiply our money by starting a business. Financial freedom will come from having a passive income and having a business could make it possible.

Young age is the appropriate stage to save money. When you are young, if you can’t save when you are still young, then things might end up being difficult for you when you are old, and you don’t have the strength to work and make earnings for yourself. When you are young, you should always plan for your future. When you are young and you are making enough money, then invest ahead of time and make savings that you know you will be surviving on when you are old.
 
But what the young people prefer doing now is spending money on expensive things, going to clubs and lavishing their money, living an expensive life. They don’t channel their money into appropriate things, and after spending, and they are broke, they will end up regretting, they don’t even think about the future.

Whether you find yourself in the realm of affluence in your later years or facing financial challenges, being both elderly and impoverished is undeniably undesirable.

A definite path to making detrimental choices involves hastily spending your funds or seeking immediate gratification without considering the future. It's equally misguided to believe that an average job or income is sufficient, especially if saving is neglected.

For the younger generation, it's crucial to recognize the interconnection of time and money. Investing early differs significantly from investing later, and the impact of investing more at an early stage is incomparable to attempting to catch up later. While 100 units hold their value today, with prudent and early investments, they could potentially grow to 800 units in 20 years. Understand this - the journey to wealth creation must commence without delay.

Right, if you do have those plans on having a better life or future then as early as you could then you would definitely be finding up those ways or methods on which that you could be able to make yourself having those kind of opportunities for you to have a better future on which we do know that this isnt something that sounds simple even if we wanted those things to happen. This is why you would really be needing to make those small steps first before you would really be proceeding into a bigger one. Savings does really give out that kind of opportunity on which this isnt really just that only used for the sake of emergency
funds or times but also it would be also used for you to have those kind of investment on which you could be able to fund up.

If you are that someone who doesnt really care about your future or on whats ahead then you wont really be able to think up on whats ahead. People wont really be realizing
things until that they would really be able to suffer out those things and face up those reality.

I quite understand what you mean because what you want to say is that money should not be saved, but should be used as capital so that it can be turned around to reap profits through good things such as investment. And I think that is very true because as long as the money is used in the right investment, it will certainly produce very useful income and you can earn even more money if it is profitable enough.

But that doesn't mean that all the money in our pockets has to be spent on investments or other things, because everyone definitely needs cash to use in life and to use as an emergency fund after investing in anything. So don't think that all the money has to be used as capital, but leave a little to enjoy life while making good investments through some of the capital that we have prepared beforehand.

If you have a way to earn money or have a way to invest your money then you have a really great chance to return your investment in the future because of the gain each investments give you. Even if you start when you are small when parents give you money, you can save some and invest the rest if you know how to do it. The method of investments are varies especially nowadays I think it's pretty much normal that it's okay to do investment when we are young like 18+

There is nothing palatable with poverty in old age. The world is changing rapidly and this is not like the time a lot of things happen that hindered a lot of people from making money. In the 18 centuries, we have major challenges like War that reduce people's potential and making money, many people lose things the have during wars and houses but today, they are now things of the past. It will be shameful if I tell my grandkids the same thing my grappa told me because I have no excuse for not leaving poor state.

Even if you are not making money for tomorrow please be rich because of your health as it's when you become old you risk getting sickness all the time because your immune system will be very weak. The only thing that can prolong your life is proper health care system and that's comes with a lot of money. You need good meal to survive and good meal comes with good money, invest when you have the opportunity because nothing is promise tomorrow.

Since childhood we have not learned to save, so when we are almost old we will find it difficult to save because our current needs are much greater than when we were small, so with a standard income we will find it difficult to save, on average we are aware that When we are getting old and we don't have any savings yet, now those of us who are still young must have the desire to save so that when we are old we can just enjoy the results and no longer work hard because our health will definitely decline.