Saving don't make wealth | Bitcointalksearch.org

Akbarkoe

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Quote from: Dunamisx on April 01, 2024, 02:02:29 PM

Savings can't help someone's situation to turn into a wealthy person, because inflation can always devalue the current worth of the financial fund we are holding into our savings, but with cryptocurrency, we can save and not be affected by inflation and the value of our money increases because we are not under the fiat regulatory system anymore, instead on Bitcoin which is a decentralized network in cryptocurrency.

saving makes you rich or not from fiat money it depends on the amount of money you save first every month and year, if you get an income for one month of $1 million without entering the cryptopun space you can be rich sir.

Likewise, people who enter crypto will not all become rich, because there will definitely be people who lose from the profits we get, and if the money we save in crypto is with a small amount every month does not guarantee you will get rich quickly, especially if the project you invest in gets problems and your purchase price suffers losses with poor project development.

Jegileman

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Quote from: Bravut on March 02, 2024, 05:14:19 PM

Sincerely the concept of savings has made some persons poor,but many won't realize the fact that saving don't make the difference but investing does.
Am not saying saving isn't good, but my point is saving doesn't make one wealthy, the worst advice we recieve is 'save for tomorrow' but only few lay emphasis on the need to 'invest for tomorrow'.

There’s a need for reorientation on this belief that many people has about savings. They always say save for tomorrow but when you look deep into it, you’ll know that saving for tomorrow will only make you less poor at the time you want to spend that money you’ve saved for tomorrow. What I’m insinuating is that inflation keeps increasing and it’ll undoubtedly affect your savings overtime but with investment and taking profits, it’ll going to match up with the standards of the economy at the time you’re spending them. Saving is good but investment is better if you have a good investment plan.

Quote

So I would greatly say we invest some of our profits from bitcoin in to other stuff, than just holding it or using it for pleasure. The rare truth is how we believe bitcoin can change the game, so other systems are developing so we shouldn't be blindfolded.
Invest because savings doesn't increase or builds, investing is what gives you the life you want.
Let discuss this guys..
No matter how many bitcoin you hold you can still misuse the money, so we should understand the concept of Richness and Wealth.

Bitcoin has been viewed by many people as another form of investment and mostly not as a savings for them. If those that came into bitcoin did for the purpose of investment, they’ll always see the better side of it as an investment asset and not a place to save their fiat money when converted to bitcoin. As we all know, since bitcoin is volatile, it can be used as an investment tool and be dependent on. There are risk involved, but the long term benefits is worth the risk. Every business invested in has a risk, you just have to be able to manage those risks.

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Quote from: AnonBitCoiner on April 02, 2024, 10:46:11 AM

Quote from: boty on March 30, 2024, 12:13:05 PM

You are very right, by having savings of course this will really help us when we need money and we don't have to think about how to meet these needs and we can immediately take the savings that we have saved to be able to meet these needs, because if we If you don't have savings, of course you have to think about how to meet these needs.

It is not an easy thing to make ourselves rich and we have to work hard and be frugal to be able to make ourselves rich and I really agree with what you are doing by saving for needs that we don't expect and also investing to prepare for the future so that we don't have difficulties. when we can no longer earn income in old age.

With saving you can get rid of hard time and when you need money then you don't have need to ask about it from other person but can freely use the amount of saving. If you can save money then it means that you are able to live under any circumstances and inflation cannot impact your dreams because you are already doing the strategy that really helps during inflation.

Nobody is born with money and nobody is rich by birth but if one work for it and continuously save some amount then he can avoid all hard times and life will be better for him when he needs such money for emergency funds.

One of the main reasons or benefits on having a saving on which on the time that you would really be needing money then you could really be able to pull it through on which you wont really be needing to take any loans or borrowing
money from other people on which this is something that would really be something recommended that you should really be having some savings at least specially into difficult times. We do know that we cant really be having
that money forever on which there would really be those specific times on which you would really be having such shortage on which it would really be that causing up for you to have those kind of difficult conditions
specially if you are really that in need of money. Somewhat savings up too much or such manner is never been that advisable too on which you could really be making use of those funds for you to be able to make yourself
that having that kind of advantage on where investing or having some business too.

It will give out that opportunity that could give out that kind of extra income on which means that you could easily be able to save up as well on which it would fasten up the rate
on how much you could be able to save up. Rinse and repeat then you could be able to see its relevance.

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Quote from: boty on March 30, 2024, 12:13:05 PM

You are very right, by having savings of course this will really help us when we need money and we don't have to think about how to meet these needs and we can immediately take the savings that we have saved to be able to meet these needs, because if we If you don't have savings, of course you have to think about how to meet these needs.

It is not an easy thing to make ourselves rich and we have to work hard and be frugal to be able to make ourselves rich and I really agree with what you are doing by saving for needs that we don't expect and also investing to prepare for the future so that we don't have difficulties. when we can no longer earn income in old age.

With saving you can get rid of hard time and when you need money then you don't have need to ask about it from other person but can freely use the amount of saving. If you can save money then it means that you are able to live under any circumstances and inflation cannot impact your dreams because you are already doing the strategy that really helps during inflation.

Nobody is born with money and nobody is rich by birth but if one work for it and continuously save some amount then he can avoid all hard times and life will be better for him when he needs such money for emergency funds.

Bravut

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Quote from: shinratensei_ on April 01, 2024, 08:19:14 PM

but indeed sometime investment carries risk so its rather understandable that some people just don't have the bravery to risk their money into investment.

Nothing worth achievable comes without risk, even saving is risky.
Everyone has personal motive and decisions that fuel there minds, but I haven't seen anyone live there dream life without taking risk.

Some just have guts, to invest with the proper knowledge, risk tolerance.
Likewise some that needs bravery, will give accolade in due time when they see results.

As Warren Buffet would say "You choose to work for your money or Have your Money work for you."
Its just a game of choice.

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Quote from: nurilham on March 30, 2024, 03:52:28 PM

-snip-

Yes, I agree with that, indeed if investment is done haphazardly without any knowledge, it will probably just be a waste of money, because to be able to make a profit of course the investment must be done correctly, be careful in taking action, if you really want to invest then that's it. We should be able to do it well, and before investing, please do research first, especially as you said by investing in the wrong crypto. We have to be smart in choosing investments and in choosing the actions to be taken. Losses and profits are based on our own making and carrying out investments from the start, actions from the start will determine the results. So don't be careless in this matter.

As I said before, saving is a good thing, in fact I think it is important, especially when making an investment. It is true that what is said is that saving will help us when we encounter or experience urgent problems in the future. Of course, we live realistically, there are certainly problems that can occur and must be overcome with money. If we only rely on the investments we make or carry out, it is likely that everything will fall apart. Saving is an important thing to pay attention to, whether you have investments or not saving is something you have to pay attention to.

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Quote from: Promocodeudo on March 29, 2024, 02:32:07 AM

Saving does not make anyone rich but investment does, investment is like a business because it involves an individual using his money to get more money through a legitimate process, you don't just keep your money in a comfortable zone and expect it to yield fruit for you in the long run or within a short period, it isn't possible, saving can only help in the situation of emergency but as for making you rich, is a no-no, as a person that wants to grow financially don't make the mistake of stock pilling your money in a stuff that's not profit-oriented unless you don't want to get rich anytime soon, identify a business that's worth your investment and invest your money so that you can be expectant in the future.

if its for emergency, investment too can be liquidated, its not like the old days where we invest to gold and need to go to city to exchange it to money, things have changed almost all of investment can be liquidated like bitcoin, even gold with the digital gold, only investment with locked period such as deposits and staking that can't be taken flexibly due to contract but the other investment such as stock, crypto, and so on can be liquidated easily anyone tries to liquidate their money for emergency purpose only few clicks away from getting their money landing in bank account so its not necessarily a benefit exclusive to saving alone.

thats why nowaday i prefer to save my money alongside investing it, sparing some percent off my salary to buy coin for investment like bitcoin and ethereum getting the best of both worlds.
i find some people missing out on this golden opportunity of turning life around just letting their money sitting in their bank account not making money off of it.
but indeed sometime investment carries risk so its rather understandable that some people just don't have the bravery to risk their money into investment.

red4slash

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Quote from: Dunamisx on April 01, 2024, 02:02:29 PM

Savings can't help someone's situation to turn into a wealthy person, because inflation can always devalue the current worth of the financial fund we are holding into our savings, but with cryptocurrency, we can save and not be affected by inflation and the value of our money increases because we are not under the fiat regulatory system anymore, instead on Bitcoin which is a decentralized network in cryptocurrency.

In this case I think there is some stigma that occurs because in the end we need to know what the definition of rich is because in the end when talking about today rich is about how we have abundant money so that it is said to be rich and there is no need for investment in the end when defining rich because in the end saving can be.

Indeed, in terms of the inflation situation, it is definitely the reason that is always promoted to say that the savings system is a flaw but on the other hand we also cannot say everything is bad because talking about saving is a system where conventional methods still apply.
Regardless of whether it is good or not I think it depends on how our views are because in the end not everyone will say that this system is bad even though we certainly know that if the comparison is with investment then it will be very far but on the other hand not everyone will also say investment is better because it all depends on the mindset of each so we cannot say for sure that saving is a bad thing because in the end our views can be different from other people's views.

Dunamisx

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Savings can't help someone's situation to turn into a wealthy person, because inflation can always devalue the current worth of the financial fund we are holding into our savings, but with cryptocurrency, we can save and not be affected by inflation and the value of our money increases because we are not under the fiat regulatory system anymore, instead on Bitcoin which is a decentralized network in cryptocurrency.

ancafe

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Quote from: Oneandpure on March 23, 2024, 12:16:49 PM

Actually all parent not familiar with investing will prefer or advice their children for saving money than investment, most of them scared with investing make us loss. I don't sure with saving can build up the business and develop financial condition behind how drastically face inflation years by years, better change saving to investing not only our save the money from inflation but also we can earn much profitable than saving.
You can compare when holding our money in fiat is not worth yet than investing in some investment kinds despite in cryptocurrency or stock, can earn profitable and increasing our capital exactly when investing in cryptocurrency huge drastically pump year by years since investing on the right moment.

This was definitely done by parents because they didn't really know how to get involved in investing. They are afraid that investment will have a detrimental impact when their children are involved in it and if they are not familiar with investment then they will definitely direct their children to save or develop a business. Even if you don't believe that saving can give anyone the opportunity to develop a business, I have seen my younger brother directly and now he has been running the business for five years.

Saving will not benefit anyone, but saving gives us the opportunity to develop our business, because we have the capital to run it. Unless we save forever and the money is not used for other needs, the money we have will never be able to provide any benefits. If you understand investment patterns and have money, it will be much better because you can generate profits rather than saving.

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Quote from: boty on March 30, 2024, 12:13:05 PM

Quote from: pusaka on March 29, 2024, 10:17:18 AM

Of course, saving cannot make people rich, especially if they save with fiat money which will definitely decrease every time. But at least saving can make us prepare for something in the future, because it is very possible that we will suddenly need money, so by saving we can use that money.
I think this goes back to the initial intention of someone who saves, I myself save not to make me rich, but to make me ready for something I said before. Even investing, I don't intend to become rich, but I want a better future to hold onto. I have prepared it in such a way that I hope it will help me in the future. To become rich is not that easy, we need to put in more effort and work and it requires a very long process.

You are very right, by having savings of course this will really help us when we need money and we don't have to think about how to meet these needs and we can immediately take the savings that we have saved to be able to meet these needs, because if we If you don't have savings, of course you have to think about how to meet these needs.

It is not an easy thing to make ourselves rich and we have to work hard and be frugal to be able to make ourselves rich and I really agree with what you are doing by saving for needs that we don't expect and also investing to prepare for the future so that we don't have difficulties. when we can no longer earn income in old age.

As we are spending money we also need to make sure we save because this is one of the ways we could escape poverty even when we are rich. Rich people always use part of there money for investments that is why they keep improving financially compared to an average man that is only after getting employed and working to get fund to pay bills and eat good food.
Investment could safe us from the stress of life if we always spend little and save more for the future which might comes with opportunities for us to benefit from.

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Quote from: junder on March 29, 2024, 10:40:16 AM

investment can also cause us to lose money or suffer losses if we invest without good knowledge about the aspects related to investment, because investments that can produce profits are investments that are done well, not haphazardly. then what will happen is only losses.

Indeed. There is no guarantee for a success in investment. If we invest carelessly and with no sufficient knowledge, it is very possible to waste money only. Moreover if we invest in crypto which has a very big risk. If we choose the wrong coins, we may end up with losing all our money. Nowadays, there are many new meme coins, be careful to invest in this coins because they have no clear future. These new meme coins can make us to get losses only.

Quote from: junder on March 29, 2024, 10:40:16 AM

Do you think saving is a bad thing?
I think saving is not wrong either, now think about the investments we make but we don't have savings, and when a problem occurs that can be said to be an emergency then we clearly need money to be able to overcome that problem, and if we don't have savings maybe what will happen is selling investing or withdrawing investments that are being made, even though they are at a loss point.

Who said saving is bad? Saving is surely a good thing. With saving, we can have reserved money. We must prepare this because we don't know when we have urgent needs or an emergency in the future. We can't rely on the investment to prepare money any time in the future. Sometimes we still can't sell our investment due to varied reasons. Meanwhile saving can be used any time in the future because they are mostly in fiats.

Fatunad

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Quote from: boty on March 30, 2024, 12:13:05 PM

Quote from: pusaka on March 29, 2024, 10:17:18 AM

Of course, saving cannot make people rich, especially if they save with fiat money which will definitely decrease every time. But at least saving can make us prepare for something in the future, because it is very possible that we will suddenly need money, so by saving we can use that money.
I think this goes back to the initial intention of someone who saves, I myself save not to make me rich, but to make me ready for something I said before. Even investing, I don't intend to become rich, but I want a better future to hold onto. I have prepared it in such a way that I hope it will help me in the future. To become rich is not that easy, we need to put in more effort and work and it requires a very long process.

You are very right, by having savings of course this will really help us when we need money and we don't have to think about how to meet these needs and we can immediately take the savings that we have saved to be able to meet these needs, because if we If you don't have savings, of course you have to think about how to meet these needs.

It is not an easy thing to make ourselves rich and we have to work hard and be frugal to be able to make ourselves rich and I really agree with what you are doing by saving for needs that we don't expect and also investing to prepare for the future so that we don't have difficulties. when we can no longer earn income in old age.

Savings is something that recommended but it isnt really that wise that you would really be just going all in on saving up on everything that you do have an extra on which you should really be sensible on trying out to divide things accordingly on which we know that it would really be needing up for you to be wise on making up some investment as a back up plan or with some additional with your current day job income
on which we know that this is something that you must really be that considering because we are living in a world where economic conditions are really that worst or something that you cant really be able to
get rid or avoid of it.

Savings doesnt really make wealth if you dont do something about it like having investment or business. You would really be needing it to be applied into something more worth and not really just that sitting
idle on which it wont really be worth on having that kind of approach. Its not bad to savings since we know on whats it usage but we should really be that smart on trying out to
find out on which one is the best thing to be done.

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Quote from: pusaka on March 29, 2024, 10:17:18 AM

Of course, saving cannot make people rich, especially if they save with fiat money which will definitely decrease every time. But at least saving can make us prepare for something in the future, because it is very possible that we will suddenly need money, so by saving we can use that money.
I think this goes back to the initial intention of someone who saves, I myself save not to make me rich, but to make me ready for something I said before. Even investing, I don't intend to become rich, but I want a better future to hold onto. I have prepared it in such a way that I hope it will help me in the future. To become rich is not that easy, we need to put in more effort and work and it requires a very long process.

You are very right, by having savings of course this will really help us when we need money and we don't have to think about how to meet these needs and we can immediately take the savings that we have saved to be able to meet these needs, because if we If you don't have savings, of course you have to think about how to meet these needs.

It is not an easy thing to make ourselves rich and we have to work hard and be frugal to be able to make ourselves rich and I really agree with what you are doing by saving for needs that we don't expect and also investing to prepare for the future so that we don't have difficulties. when we can no longer earn income in old age.

junder

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Quote from: Promocodeudo on March 29, 2024, 02:32:07 AM

Saving does not make anyone rich but investment does, investment is like a business because it involves an individual using his money to get more money through a legitimate process, you don't just keep your money in a comfortable zone and expect it to yield fruit for you in the long run or within a short period, it isn't possible, saving can only help in the situation of emergency but as for making you rich, is a no-no, as a person that wants to grow financially don't make the mistake of stock pilling your money in a stuff that's not profit-oriented unless you don't want to get rich anytime soon, identify a business that's worth your investment and invest your money so that you can be expectant in the future.

investment can also cause us to lose money or suffer losses if we invest without good knowledge about the aspects related to investment, because investments that can produce profits are investments that are done well, not haphazardly. then what will happen is only losses. therefore, before we make an investment, we must have good knowledge of investments whose aim is to generate profits, also investments that generate profits, in my opinion, are long-term investments, and not everyone can do this, because it requires strong patience. and good determination in making investments.

Do you think saving is a bad thing?
I think saving is not wrong either, now think about the investments we make but we don't have savings, and when a problem occurs that can be said to be an emergency then we clearly need money to be able to overcome that problem, and if we don't have savings maybe what will happen is selling investing or withdrawing investments that are being made, even though they are at a loss point. Saving is also important in my opinion, where investments can be made when our finances are stable and we have savings, because it is impossible to sell investments made at inappropriate times, such as to overcome problems that are considered emergencies.

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Quote from: batang_bitcoin on March 28, 2024, 06:11:29 PM

Quote from: Yaqs15 on March 28, 2024, 04:37:42 AM

saving plain cash, I don't know of any way one can be rich by doing that. Especially in countries that have their currency depreciating day by day. for example; Nigeria, this country's currency is depreciating day by day significantly, making things worse and harder for the citizens. And when it comes to appreciation it appreciate with just negligible figure.
some one in this country that is having a naira saved, is he losing or gaining?
so like you said, saving a plain cash can not make some one to become rich.

No gets rich by saving plain cash because that devalues over time because of the inflation and so the purchasing power becomes lower. While the rich keeps on investing because they want their wealth to retain itself and grow more. The investors that are starting out, they need to follow the path of what the rich did. They've been patient with their journeys and that's why looking up to them is normal for someone who's optimistic with their future and growing their wealth through their own ways. So, someone who saves his money is going to lose the value in fiat because that's known to most and each country.

Of course, saving cannot make people rich, especially if they save with fiat money which will definitely decrease every time. But at least saving can make us prepare for something in the future, because it is very possible that we will suddenly need money, so by saving we can use that money.
I think this goes back to the initial intention of someone who saves, I myself save not to make me rich, but to make me ready for something I said before. Even investing, I don't intend to become rich, but I want a better future to hold onto. I have prepared it in such a way that I hope it will help me in the future. To become rich is not that easy, we need to put in more effort and work and it requires a very long process.

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Quote from: Promocodeudo on March 29, 2024, 02:32:07 AM

Saving does not make anyone rich but investment does, investment is like a business because it involves an individual using his money to get more money through a legitimate process, you don't just keep your money in a comfortable zone and expect it to yield fruit for you in the long run or within a short period, it isn't possible, saving can only help in the situation of emergency but as for making you rich, is a no-no, as a person that wants to grow financially don't make the mistake of stock pilling your money in a stuff that's not profit-oriented unless you don't want to get rich anytime soon, identify a business that's worth your investment and invest your money so that you can be expectant in the future.

I like how everyone is given credit to invest but I hope we all know that investment can also not make you rich in some cases. Investment is a necessity but if you do it wrongly, you might prefer to even have allow your money to be in savings. Yesterday, SBF was sentenced to 20 years in prison because of people that lost money into his exchange and all wanted good thing for themselves, they want to secure a good future for their investment but unfortunately, it went to the wrong exchange and this mistakes are the ones you don't see coming.

Savings is an old system of putting money together but in this century, it doesn't work again, you might not save anything after some years due to inflation but investments is a sure deal but that doesn't mean investment is pure haven against inflation, it's a risk and anything is bound to happen and that's why we need to be carful with the type of investment we do.

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Quote from: livingfree on March 27, 2024, 04:49:52 PM

Quote from: slapper on March 27, 2024, 07:35:11 AM

Quote from: livingfree on March 26, 2024, 01:21:20 PM

Whatever works for them if they invest without the need to save because they've got probably huge amounts already to invest is normal. While those that are starters and like minimum wage earners, they have to save so that the amount of they have ready to invest will be enough for any investment they choose.

Those that chooses to hold their fiat money and does nothing with it as they don't want to invest. They are the conservative ones and they don't want to take any risk and don't want to get into trouble of seeing the value of their money lose.

Well, that's fine because for us we can take losses now and be better and easy in the future than to suffer.

This rich vs. poor mentality towards investing... it's a whole different world. You got folks with cash to burn, dropping money into stocks like it's nothing, not even sweating if it tanks. For them, 'saving money' is a foreign concept. But the thing is, investing ain't just about having a fat bank account, it's about knowing the game. Then you've got the everyday people, grinding, saving every cent. For them, it's not fancy investing, it's about building a future, brick by brick. There's a different kind of power in that, a hustle you can't buy

And what about those scared of taking any risk? They grip their cash tight, terrified of losing a dollar. Yeah, safety's nice, but without risk, there's no reward. Stagnation is a slow death, man. You're right, taking a hit now can be the smarter play in the long run. It forces you to learn, to adapt. That's growth, not just in your wallet, but in who you are. That's the kind of investment that pays off forever

Those that have money ready to invest, they're the ones that have been there in the game for quite a while. They know how to make money out of something and you're right that they are prepared to burn cash whether it tanks or not.

While the traditional setup of a person that came out of nothing as in zero experience and came from a poor family, they have to go through with all of these hardships and need to save to invest compared to the ones who are wealthy already.

And for the ones that scared of taking risk, they are going to learn a lesson with their mistake when they get older.

Yes, you are right there. Investors who like to rotate their capital in investment opportunities are often able to accumulate their wealth because of the investments they choose that they feel really have potential.

They are the people who, instead of keeping their money, rotate it into investments that they think will grow in the short term. Unlike when your money is at home, your money is just sleeping, and if it is in the bank, it will only grow a little within a year.

WillyAp

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Quote from: Promocodeudo on March 29, 2024, 02:32:07 AM

Saving does not make anyone rich but investment does,

And the investment grows out of nowhere?
It is way easier to save 50$ a week which gives you 2600 + per year and invest those.
From there, over further savings you have the next year more, and after 20 years you might made it.
Banks, Credits certainly have a place in this pretty crude "plan".

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Saving does not make anyone rich but investment does, investment is like a business because it involves an individual using his money to get more money through a legitimate process, you don't just keep your money in a comfortable zone and expect it to yield fruit for you in the long run or within a short period, it isn't possible, saving can only help in the situation of emergency but as for making you rich, is a no-no, as a person that wants to grow financially don't make the mistake of stock pilling your money in a stuff that's not profit-oriented unless you don't want to get rich anytime soon, identify a business that's worth your investment and invest your money so that you can be expectant in the future.

Topic: Saving don't make wealth (Read 2581 times)