Saving don't make wealth - page 11. | Bitcointalksearch.org

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Quote from: reagansimms on March 05, 2024, 04:11:18 AM

If you are trying to set aside some money for savings, why don't you try going one level higher which can make your amount of money grow by investing?
Instead of saving which means the value of the money can be depleted by inflation, you should use a method that can provide future benefits by investing the money in Bitcoin.

If you plan to build a monthly savings of $100, you can also get Bitcoin with that amount. Bitcoin which can be purchased in smaller denominations can make it easier for you to invest your money by using the DCA strategy regularly, you will feel much greater benefits from investing in the future compared to saving.

When we are able to regularly save part of the income we have, of course we will be able to go up one more level to be able to maintain the value of the savings we have so that we can invest it by investing, then we will be able to make a profit from it and will also be able to achieve what we want. want after getting a profit from the investment, choosing to invest in Bitcoin using the DCA method is indeed very good and we have to do it well according to the plan we have made before investing and also we have to leave a little savings for emergency needs so that we can carry out the investment we do it well, because if we don't have savings for emergency needs then when we invest and need funds immediately then we have to take the investment and if the price is high of course it won't be a problem and if the price is low of course we will experience a loss on the investment the.

reagansimms

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If you are trying to set aside some money for savings, why don't you try going one level higher which can make your amount of money grow by investing?
Instead of saving which means the value of the money can be depleted by inflation, you should use a method that can provide future benefits by investing the money in Bitcoin.

If you plan to build a monthly savings of $100, you can also get Bitcoin with that amount. Bitcoin which can be purchased in smaller denominations can make it easier for you to invest your money by using the DCA strategy regularly, you will feel much greater benefits from investing in the future compared to saving.

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A friend of mine doesn't want to get a mortgage, and he has been saving as much as he cam for the last years. He doesn't take even a coffee out of (his parents') home, so you can imagine the degree of austerity I'm talking about).

Unfortunately, such a stoic behavior is not having the expected effects. Last year the price of real state rose a 14%, which means that all the money he holds in his bank account is worth 14% less (you can make the comparison to being charged a 14% of your savings in taxes in one year, which is insane).

The alternative is not any better, though. If you don't save, you'll be doomed to be a debt slave.

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Quote from: Bloodseekers on March 04, 2024, 10:10:41 PM

Quote from: Dailyscript on March 04, 2024, 09:55:17 AM

The main reason i would choose investing over saving is that investing saves you for future purposes and gives you a chance to be wealthy. Definitely, it is difficult to get wealthy when you are just saving because inflation will surely affect it, and purchasing power will also reduce after some years of saving. I am not still disputing the fact that saving is good because it helps us solve unexpected problems that come along the way. Now, i won't suggest that a person should leave saving and invest, and I won't say they should also focus on investing and abandon saving either. Both should come in hand after receiving income. Allocating some percentage to saving and some to investment based on your financial capability every month.

By investing we can guarantee a good future for us, but we have to properly understand the investments we make so that we can run them well and get profits. You are right, it will be very difficult to become rich if we only save because when inflation occurs everything will be very different and we also have to still have savings for emergency needs that we will never know for sure so that when we need it it doesn't disturb the assets we have invested.
You are right, these two things must continue to be carried out well to be able to achieve what we dream of in the future.

What I think about all this is that, investment is paramount if you really want to secure your future, because savings have an enemy which makes it less effective the e way it should, which is inflation, so the best way to counter such situation is having an emergency fund that can sustained you in case of any emergencies till the next pay day.

I prefer having an emergency fund which can sustained me till my next pay day, so that I wouldn't have to look up to my investment during financial troubles, than saving money that would be eaten up by inflation.

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Quote from: Dailyscript on March 04, 2024, 09:55:17 AM

The main reason i would choose investing over saving is that investing saves you for future purposes and gives you a chance to be wealthy. Definitely, it is difficult to get wealthy when you are just saving because inflation will surely affect it, and purchasing power will also reduce after some years of saving. I am not still disputing the fact that saving is good because it helps us solve unexpected problems that come along the way. Now, i won't suggest that a person should leave saving and invest, and I won't say they should also focus on investing and abandon saving either. Both should come in hand after receiving income. Allocating some percentage to saving and some to investment based on your financial capability every month.

By investing we can guarantee a good future for us, but we have to properly understand the investments we make so that we can run them well and get profits. You are right, it will be very difficult to become rich if we only save because when inflation occurs everything will be very different and we also have to still have savings for emergency needs that we will never know for sure so that when we need it it doesn't disturb the assets we have invested.
You are right, these two things must continue to be carried out well to be able to achieve what we dream of in the future.

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Quote from: Natsuu on March 04, 2024, 08:57:18 AM

It makes sense. Saving money is cool but is where the magic happens. You can have both. Putting your cash in things like stocks, real estate or even Bitcoin can make your money grow way better than it would in a regular savings account. Sure Bitcoin can be a bit wild but it's part of the game. Diversifying your investments around is like playing it smart. It helps you ride out the ups and downs

well, doing both is the best thing. This can help us to gain additional income, even greater income than we thought. Apart from that, investing also has the potential to give us profits that can make us achieve financial freedom. Saving and investing are necessary. Saving makes us avoid sudden needs, while investing makes our income or assets increase every month or year.

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Quote from: Natsuu on March 04, 2024, 08:57:18 AM

It makes sense. Saving money is cool but is where the magic happens. You can have both. Putting your cash in things like stocks, real estate or even Bitcoin can make your money grow way better than it would in a regular savings account. Sure Bitcoin can be a bit wild but it's part of the game. Diversifying your investments around is like playing it smart. It helps you ride out the ups and downs

Why not both save and invest, that way bigger scope of profits will be covered. It’s not practical to just invest without prioritizing saving for some emergency funds, or the other way around, saving alone wouldn’t still be at its utmost advantage if you never invest some of it. Whether it’s on bitcoin, stocks or real estate, as long as you reserved funds for investment and at the same time you save enough funds to cater your basic needs and necessities, then definitely the result will be more profitable and even more satisfying on our financial aspects.

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Quote from: icalical on March 04, 2024, 05:20:52 PM

Sure investing is more profitable and our saving is indeed eroded by inflation, but both have different purposes and if we consider many aspects both are just good for their own purpose. Investment is good for gaining and getting profit and avoid inflation if you do it right, but there is also some risk of value loss, and not to mention that in some investment you need sometimes to withdraw the fund. While in saving even though the value is decreasing because of inflation, but in the case of emergency situation you can directly withdraw the money.

We can do both saving and investment.

Exactly, why disregard saving? Our only saying is don't let all your money sit in there, meaning don't just be content with saving money, because in the continuous increase of the inflation rate, surely you will eventually use your savings. Instead, divide your money allocated for saving into two, one for saving and the other for investment or building up a business, because if you want to keep up with society and its inflation, then having an investment or business will help you in many ways, including saving up more money for future purposes. That is the best mindset of all.

I personally have a stable job, and because of the expenses now, I don't have anything left to have savings. That's why I do side hustles or part-time jobs that can be done online and also do investment, so I have three different sources of income, and that's how I can have money for more investment and for saving up.

icalical

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Sure investing is more profitable and our saving is indeed eroded by inflation, but both have different purposes and if we consider many aspects both are just good for their own purpose. Investment is good for gaining and getting profit and avoid inflation if you do it right, but there is also some risk of value loss, and not to mention that in some investment you need sometimes to withdraw the fund. While in saving even though the value is decreasing because of inflation, but in the case of emergency situation you can directly withdraw the money.

We can do both saving and investment.

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Quote from: Bravut on March 02, 2024, 06:14:19 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'.
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.

What is certain is that saving and investing are both different even though they look the same. Saving is not necessarily an investment, but investing is definitely more than just saving. Here's the bottom line.
Because saving is for short-term needs, while investing is a process to obtain long-term profits. It's just that distinguishing between the two is a risk factor. Saving has a small risk, but does not have the potential for future profits like investing.

As you said, saving will not make our savings increase, on the contrary it will make our savings lose value due to inflation. Saving is only needed for needs and emergency funds. The rest of the money is better diverted to investing in Bitcoin, gold or property. The point is that savings and investment must go hand in hand, it's just that the portion of the allocation must be increased to investment.

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Quote from: Bravut on March 02, 2024, 06:14:19 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'.
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.

This is a factual truth people seem to value saving than investment a whole lot of times people always make saving there priority instead of investment
Investment is a multiplayer while saving preserves sometimes without any interest or profit
People should change there mentality as such they will begin to multiply there income

kingvirtus09

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It is useful to make savings as long as you know how to do it, because if you only save and then it will only go to your expenses, which will not benefit you in the long run, I think that it is also useless that you made savings.

Now, if you make savings through DAC here in the field of cryptocurrency like Bitcoin and other top altcoins, I also think it will also help you get what you want to buy for your loved ones. .

Oneandpure

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I think every one must understand well bad concept about saving is the best way to be rich because the right side of saving don't make wealth yet, the inflation of fiat most drastically year by year and how long duration taken when saving much money more than five until ten years. I can't imagine if some one have routine saving money more than ten years how decreasing drastically with his saving assets.
Change bad concept with saving money and use for investing, despite which one priority for investing during profitable is not matter such as invest in property, gold and not bad ideas when saving in cryptocurrency.

Potential increasing the values of our saving money when investing it than only hold as saving assets without any potential get increase until how long save or hold it.

Gormicsta

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Well, I don't think that's true; for me, saving actually makes someone wealthy. I understand saving as the act of putting money aside for future use; it's a way to ensure that whenever you have emergencies, you can sort yourself out; assuming you didn't save for the future, how can you help yourself or your relations when you needed it the most? Although you can't be wealthy all at once, it takes from step to step; you can start with small small capital, all these wealthy people today,

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Quote from: Natsuu on March 04, 2024, 08:57:18 AM

It makes sense. Saving money is cool but is where the magic happens. You can have both. Putting your cash in things like stocks, real estate or even Bitcoin can make your money grow way better than it would in a regular savings account. Sure Bitcoin can be a bit wild but it's part of the game. Diversifying your investments around is like playing it smart. It helps you ride out the ups and downs

The advice you say also makes sense because the benefits are clear between saving money in a regular account and using it to invest in shares, real estate, or even Bitcoin. Because until now Bitcoin is still experiencing significant price growth in the market so the benefits are also becoming clearer, so the advice you say is also quite good and cooler than just saving money in an ordinary bank account where there will be no additional money at all.

Quote from: AmoreJaz on March 04, 2024, 09:38:17 AM

Investing to other assets is always a better choice, that is, if you will also dedicate yourself in educating yourself how to handle them when you encounter different scenarios. Always think of contingencies because if something goes wrong to one asset, at least you have something to fall back onto.

Using money in several investment assets could also be an additional option that is as good as what @Natsuu said. Because he also said about several investment options such as shares, real estate, or even Bitcoin which can always be relied upon even though there are risks too. But so far we can all see that profits and wins always lie with people who believe in stocks, real estate, or even Bitcoin. So those who save money only in bank accounts will not be able to feel the benefits of investing in shares, real estate, or even Bitcoin.

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The main reason i would choose investing over saving is that investing saves you for future purposes and gives you a chance to be wealthy. Definitely, it is difficult to get wealthy when you are just saving because inflation will surely affect it, and purchasing power will also reduce after some years of saving. I am not still disputing the fact that saving is good because it helps us solve unexpected problems that come along the way. Now, i won't suggest that a person should leave saving and invest, and I won't say they should also focus on investing and abandon saving either. Both should come in hand after receiving income. Allocating some percentage to saving and some to investment based on your financial capability every month.

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Quote from: Yatsan on March 03, 2024, 01:07:35 PM

Quote from: DanWalker on March 03, 2024, 12:49:38 PM

Quote from: Bravut on March 02, 2024, 06:14:19 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'.
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.

Agree with OP that investing is more profitable than saving, saving only makes our money lose value over time. But investing doesn't just mean profits, it also comes with risks, and it gets riskier when you choose to invest in bitcoin. Have you thought what if you bought bitcoin for 70k 3 years ago and you need money in 2022 when bitcoin price drops 60-70% of its value? What would you do in that situation if you had no savings? Don't get too excited when the market is bullish and have the illusion that bitcoin will always bring profits without risk. It can be said that having an investment will give us the opportunity to change our lives, but never underestimate a savings account for emergencies.

It just depend on one's risk appetite. Some peopl are better living with savings alone simply because they are afraid to take the risk. They're more into assurance with situations or times they will be needing the money they are saving than to risk making it double or just more with investment.

Of course, it depends on each person's choice because each person has different living situations and perspectives on life. But it would be a mistake to compare saving and investing, and we only talk about the disadvantages of saving and exaggerate the benefits of investing. To be more fair, we should give the pros and cons of both so that people can have more realistic assessments and comments. I am a bitcoin investor and I prefer investing over saving but I cannot deny the importance of saving.

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Quote from: Natsuu on March 04, 2024, 08:57:18 AM

It makes sense. Saving money is cool but is where the magic happens. You can have both. Putting your cash in things like stocks, real estate or even Bitcoin can make your money grow way better than it would in a regular savings account. Sure Bitcoin can be a bit wild but it's part of the game. Diversifying your investments around is like playing it smart. It helps you ride out the ups and downs

Investing to other assets is always a better choice, that is, if you will also dedicate yourself in educating yourself how to handle them when you encounter different scenarios. Always think of contingencies because if something goes wrong to one asset, at least you have something to fall back onto.

Just look a very classic example, saving your money in the bank won't give you good interest at the end of the year. It is like for safe-keeping purposes. So if you think you have other skills to grow your money outside traditional banking, why not?

Quote from: bakasabo on March 04, 2024, 06:21:06 AM

It is even sound incorrect «saving = wealth». What people usually save or try to save? The money they earn as a salary. So if you dont earn much or isnt a wealthy from the beginning, all you can safe is a part of what you have earned. If we use simple math it isnt impossible. Suppose X is your salary. You save for example 0.5x and expect it to turn into 100x with time while doing nothing? We all know that «money must work». That is the only way to make even more money. Saving means putting them on the pause. Pause is never good.

A very logical approach. Indeed! Your money won't grow on its own. It should be used into something profitable to earn good money. Else, you are just letting the money sleeps.

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Quote from: Natsuu on March 04, 2024, 08:57:18 AM

It makes sense. Saving money is cool but is where the magic happens. You can have both. Putting your cash in things like stocks, real estate or even Bitcoin can make your money grow way better than it would in a regular savings account. Sure Bitcoin can be a bit wild but it's part of the game. Diversifying your investments around is like playing it smart. It helps you ride out the ups and downs

exactly! If you have the ability to have the same, why not? that's also the normal way when it comes to having financial stability in life, having savings and investment at the same time. We are aware that what I am talking about is only applicable to people who earn a lot and there is not only one source of income and we also know that not everyone has the ability to do it all because others are trying to fit in their salary is just to survive and they don't even have savings so it's hard to be in that situation.

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It makes sense. Saving money is cool but is where the magic happens. You can have both. Putting your cash in things like stocks, real estate or even Bitcoin can make your money grow way better than it would in a regular savings account. Sure Bitcoin can be a bit wild but it's part of the game. Diversifying your investments around is like playing it smart. It helps you ride out the ups and downs

Topic: Saving don't make wealth - page 11. (Read 2433 times)