Topic: Saving don't make wealth - page 3. (Read 2592 times)

Dont save Dollars to be brief, it wont reward you.  Dollars are debt based and you are juggling politics and an unstable monetary base, the import export balance and a variety of considerations.   Dollar can gain at some times like any asset, you may even appear to gain an interest return but overall the record is clear; losses continually for over a century now.  
Certainly its true since the 1970's that Dollar cannot its lost value, the benefits if any are paid elsewhere not to holders of this promissory note.

Savings is something you can put your head on at night and know it will still exist in the morning.  The ideal being a gain on what you saved like a good harvest.  The Dollar story is about promising to only lose you 2% except when it trips up then maybe even more.  Maybe one day it loses 100%, actually thats almost a certainty hence saving is contradictory tbh.

The old paradigm is that by saving we will be rich, but that is wrong because the mathematical concept of saving means we have lost or are left behind because saving is actually only a temporary concept for at least a month or at most three months. If you want to progress then whatever type of investment you invest, because investment will continue. there is a movement of at least 2 percent per year, we can imagine if our investment takes a long time. There are various types of investment, from land to gold, but we also have to be careful when investing, so we don't get cheated

Are you trying to prove that saving is what builds the future and dream life of a man?
Your point isn't  clearly expressed, as you don't have a base about what you're saying.
If you understand the point, you will know that saving for tomorrow is over-emphasised, am not saying you shouldn't save but to let you understand that saving fait is degenerating and also as  a young man you should look at the future with a investing mindset as saving doesn't increase the money and will not get you the dream life you want.

I see some persons comment saying if you stack up a $1m you are rich, no doubt but that's still the money you didn't have intention of using which you stack but the money didn't do any work for you, you're still with your money. Alright what's gonna be your plan after having such money will you continue saving, NO. You are gong to spend it on other stuff and still repeat that same cycle again. Why not view in the context of money working for you (investing).
How will you judge someone who is saving up $10k with a goal of reaching $500k to purchase something and another investing same $10k in Real Estate what is both fate?

We should understand the clear distinct between Richness and  Wealth so as to know what road we are on.

As a young individual saving for tomorrow is a bad logic that one should abide by, you can save but all your finances shouldn't be centred on saving, but rather investing for tomorrow .

Just as saving does not make a man rich, saving will deprive a young man of the freshness of money. That is why he will not save part of his income, that might not be the right idea. Because saving today can help tomorrow. A healthy normal person must move forward, he should run if he cannot do that he should walk, if he cannot even roll then he should move forward and not stop moving forward. So a young man has to collect and save money for his future life.

Investment begins with saving, if someone is able to set aside their income for savings then they have at least built a financial foundation to become stronger. A person will never be able to jump into investing if they don't have savings. I am sure that people who have a rich mentality will go through that process and of course it is not a loss if someone dares to do that.

setting aside 10% can be helpful if we also compounding it, otherwise its gonna be really slow saving that probably won't matter much short term only matter long term and by long term its probably decades.
but compounding it gonna increase the value real quick, imagine someone that compounding their investment in bitcoin always selling at peak and reinvest profit and capital later in the future, they easily make some 100x profit consistently but without it if we just keep the profit or the capital then we probably gonna need decades just to gather the money that can be achieved within few bullruns.
my point is that, investing compounding the capital gained from setting aside salary is a good combo.
that way you can easily grow it that it become the amount thats worth it to invest, eventually you gonna reach target doing that consistently.

Saving don't make wealth ? Yes if you saving on plain cash with no interest in it. Because the inflation itself is eating the value of your money take a look at this chart. You need still need saving and liquid cash but for long term you need something better.

Savings is the foundation for wealth creation. What strategy will we follow to either get rich or settle down low? A few generations ago, it was the savings made by the people and their hard work that made them rich. The scenario now is different, investment along with smart work makes a man rich. However, equal importance needs to be given to savings as well as to investing, because any form of investment has its risks. Based on the risk, there will be profitability as well as a chance of loss. Having savings will help us handle unexpected needs or compensate for losses when our investment strategy doesn't work as we predicted.

Saving is definitely good, but as you have implied it's not the answer to everything, especially if you're looking to build wealth. Making your money work for you is going to be the best way for you to slowly but surely earn that millions of dollars, and as I keep saying it doesn't even have to come from crypto, there's a large selection of choice, from stocks to bonds and even real estate! There's a plethora of choices for you to start your financial journey.

If you're looking to save, let it be for an emergency, or to prepare for a massive purchase you are looking to secure. Saving works best when it's planned ahead and not done for the hell of it cause when you have a clear goal in mind, you're set to it and you won't let feeble distractions stray you from the path you are looking.

And if you have the opportunity and the financial capacity to, look into saving as well as investing all at the same time, having both of these ensures that you are secured in every financial aspect of your life, for the unthinkable and the foreseeable future.

Servings is not wealth, when you won any strong asset like land property, real estate, gold, bitcoin then it called wealth. Savings is good because when a person saves some savings and can complete a large amount of savings, he invests them in a strong asset so that his money does not become inflationary and his wealth remains throughout his life. and they can be enjoyed by his future generations as well. so i am believe that savings is not wealth

This depends on where you save, if you save in cryptocurrency by buying Bitcoin and holding it for the long term it will give you a lot of profit, just like when you bought Bitcoin in 2010 and you sold it in 2024, how much profit did you get? that's why I chose Bitcoin as a place to make long-term investments. As long as miners are still getting Bitcoin, I believe the price of Bitcoin still has quite a long way to go.

You mean the win rate when investing in bitcoin is up to 99%, are you serious? Is investing in bitcoin really that easy and if everyone wins then who loses? Out of 100 people investing in bitcoin, 99 people win and only 1 person loses, is this reasonable? Bitcoin is a financial market and when we make profits there will certainly be losses, Bitcoin cannot increase its value on its own and distribute it to all investors for free. And the government also doesn't print money to pour into the free market to make all players winners.

If investing in bitcoin has a 99% winning rate, you should sell all your houses and assets and invest entirely in bitcoin, you will quickly become rich, you don't have to work hard just to make a few dollars a day.

Yes, apart from whether saving can make people rich or not, saving is an important thing. In fact, if we set aside 10% to 15% of our income every month, it might really be useful in the future. If you want to be rich, then invest, but saving can also make us rich when we have a lot of income.
Apart from that, the benefits of saving are many. it can even be used for investment purposes, secondary needs, or urgent needs.

True to form, the OP has given up on this thread but instead of locking it he has allowed to become a magnet for low quality posting and signature spammers.

While signature spammers and low quality posters have taken over most of this thread, the OP has been busy where he belongs posting in the WO where he hopes to get some merits: https://bitcointalksearch.org/topic/m.63851099

When he is not flooding the Wall Observer, he is trying other ways to get merits: https://bitcointalksearch.org/topic/m.63839573

Still on the same page, it depends on what a person is to invest into, let's assume it is Bitcoin, we all know their is a 99% chances of making profits than losing, so first we need consider what exactly we are about investing into. Money held in an account as savings may not worth the price of goods if eventually the economy faces inflation but investment counter the odds. Both are important but making investment should rule.

When investing, I don't think you should use all capital for investment. There should be a part save somewhere in case of emergency. This is called emergency fund. Saving money isn't encouraging in this present Nigeria where inflation keep increasing everyday. It's better you make your money to work for you by investing them in a reasonable business.  Although one can as well lose in investment but one should just be positive in his action as most of our actions in life is all about risk.

You're correct; while many people focus on saving for tomorrow, few understand the concept of investing for tomorrow, which is better and more rewarding in the long run. Your savings goal is a projected amount that you want to have, and once that amount is met, you have a fixed amount and nothing else. While investing your money, you will receive interest on the total amount invested over time.


Nobody said bitcoin was a safe haven for this generation or that it would be the best system for lifting people out of poverty. Investing in bitcoin is a good investment, and it is preferable to saving money in a bank, where you will not receive a return on investment as you would in bitcoin due to its volatility and the likelihood of future price increases.

The game will start when you start to believe in Bitcoin, assuming that the initial $100 is the capital you have and this should be added slowly so that the investment we make can continue to increase. The profits obtained from bitcoin can be carried over to other investment models and it depends on how someone can use it. The more investments we make, the greater the profits we will get, because there are many funnels that can provide financial benefits for us.

The same thing happens with people who have a lot of money and if they are unable to turn that money into something more productive then over time it will be wasted. When people understand what to do if they have bitcoins, slowly the bitcoins will increase because people know how to continue collecting them.

Yes, that's right, because saving will of course help us overcome unexpected things such as medical costs or accidents. However, not everyone can save because of course everyone's finances are different, there are those whose finances are unstable so they still don't have enough to meet their needs or are always in short supply so they don't have any extra money to save. Even though everyone wants financial freedom, not everyone can achieve it, there are people who don't want to move and stay in a phase that makes them comfortable, as long as they have enough for everyday life, that's not a problem, but if we really want to achieve financial freedom then we have to move to move forward in order to achieve it.

and also with investment, it is true that investment can build wealth, but even so, I don't think everyone can do it because to make an investment of course we have to have stable finances first because we don't want to let the investment we make be disturbed, therefore before making Our investment must be able to have stable finances too, because in my opinion a profitable investment is a long-term investment. Many people fail to do so because they are impatient with the long wait and hold. Apart from finances, we also have to pay attention to ourselves, whether we are really ready to make an investment, because it also requires good knowledge to make an investment, it is impossible to make an investment without knowledge regarding aspects of investment.

It's strange that in my place, if someone saves more money and doesn't have other wealth such as important assets in their life, they won't be called a rich person. For example, when someone has saved up to millions of dollars but he still does not have his own house, vehicles such as cars and his own land, he will not be called a rich person in my place because the money he has cannot be seen by everyone so only a few who would consider him a rich man. And for me, this assumption also makes sense because wealth and money are very different.

Savings are important, especially if they can also be used to deal with emergencies in our own lives. But what is more important than that is how we can manage it well into useful things such as putting it into investments and also putting it as capital to bring in more income in the future. So, I don't think that money that is not used will be more useful for ourselves than just spending it when facing emergency situations that we generally never expect.