Topic: Saving don't make wealth - page 4. (Read 2571 times)

What if your investment loses money? Have you considered that scenario? Saving will not make you rich or help you fight inflation, but it will certainly be the best solution if you encounter difficulties in life. Investing is a way for us to improve our income and life, but investing always carries potential risks, and can even lead to bankruptcy . Regardless of the financial market, making a profit is never easy. Frankly speaking, I see very few winners and most of them just losers . Saving and investing are both equally important, so balance things out.

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.

It's true that savings are very important, but it can't help anyone who accumulates savings, to be honest. If your savings are small and only for emergency purposes, it will not really give you enough to say that you will be rich. But if you have saved money that reaches $1 million, you can say that you are rich because you have millions of dollars.

So, whether you get rich from your savings or not, we should still have it. Now, if you are here in the bitcoin or crypto space, the crypto or bitcoin that you collect is for sure that it can also make you rich in the long run if the coins that you hold for the long term are right.

Saving is definitely important as it provides a safety net for unforeseen circumstances, but it is true that investing is what truly builds wealth. Investing allows your money to grow and work for you, providing you with the opportunity to reach your financial goals and live the life you desire.

It's important to diversify your investments and not solely rely on holding onto one asset such as bitcoin. Explore different investment opportunities that align with your goals and risk tolerance to maximize your returns and build long-term wealth.

Ultimately, the key is to educate yourself on financial literacy and make informed decisions that will set you up for financial success in the long run. By understanding the difference between saving and investing, you can take control of your financial future and achieve your desired level of richness and wealth.

meanwhile people can easily put their money in gold and easily solve the problem but some people aren't conscious enough to know that inflation does eat their savings.
i've seen plenty that just save up their money in banks, i mean they could easily move it over to deposit but they deny it because its illiquid, meanwhile if they truly want to invest into something that can be liquidated easily and also having higher chance of increasing in value they could choose bitcoin or at least they could choose staking with stablecoin and that honestly already enough to counter the inflation.

the economy indeed causes inflation to be eating up on people's money but honestly there are also plenty of ways for people to avoid the inflation so its kinda fair game.
therefore people should have basic knowledge about investing and then they can be rest assured that they are making wealth not just losing it overtime.
personally i consider saving to be kinda silly with the high rate of inflation these year arounds.

Believe it or not, our parents always advise us to save and there is even a saying "that saving is the source of wealth". We often hear this advice from our parents and they always remind us to saving, saving and saving.

Saving does not make people richer, but by saving people can build a business to develop financial potential. If they have enough money saved, they can make any business for the financial development stage and perhaps that is the purpose of saving as the basis for wealth.

Bitcoin has provided financial freedom for anyone involved in it and bitcoin has also provided benefits for certain people to build businesses through the profits they get. Changing bitcoin profits to invest in housing, land and gold is a good practice because the more investment models we make, the greater the profits we get.

Owning Bitcoin is not categorized as savings, but it is an investment, we must be able to differentiate between them.
Saving means saving money without any risk unless inflation occurs in the far future, while investment is something that makes everything possible.
If we talk about whether it's good or not, of course it's much better to invest, so it's said that just saving won't make you rich, it's different from investing.

Money has time value and dollar today is worth more a dollar tomorrow. The fiat currency keep on decreasing its value over period of time and that's why if you have savings in the form of fiat currency then it won't be much profitable after year or two. For instance, in my country two years back 1300 cc car cost was around 2.5 million Pakistani Rupee and now it's around 4.5 million Pakistani Rupee. So anyone who has savings in fiat currency can easily figure out how much he has lost.

Savings in bitcoin is different than when you save money in your bank. When money is being saved in the bank it loses value but when bitcoin is save it increase  in value.  I think hodling Bitcoin is not a bad idea because it will always add more value.  Bitcoin is considered as investment when people hodl it because of the value it adds.  I don't think it is bad  when people save bitcoin,  bitcoin is different from other currencies when it is being saved.

Of course, investment is much more prioritized than savings for proper management of financial aspects, if you put all the piles of money in the bank then the effect will be a decrease in the value of the currency due to inflation as recently, we have to reorganize the use of financial allocation to increase allocation for investment rather than savings, you need to consider diversifying into several types of investments to avoid the impact of losses, including gold, property, mutual funds, and also bitcoin, although it is recommended not to allocate high funds to bitcoin if you are willing to hold it for a long-term portfolio.

I have a friend who told me that he had saved all the paper money in the bank, he regretted that he did not allocate allocations for investment purposes and he only got low interest profits every month from the bank, he said that if he had invested in gold and bitcoin he would have made a profit double, but I have advised him to change financial management and prioritize investment over savings.

It's fascinating to delve into the dynamics between saving and investing, especially in the context of assets like Bitcoin. Your perspective brings up a crucial distinction between the two financial strategies.

While saving provides a safety net and financial security, it may not necessarily lead to substantial wealth accumulation over time, particularly in an era of low-interest rates and inflation.

Your insight into the transformative power of investing Bitcoin profits into diverse assets is astute. Bitcoin, often hailed as a revolutionary financial innovation, presents unique opportunities for wealth creation. However, as you rightly pointed out, merely holding Bitcoin or using it for immediate gratification might not harness its full potential.

Diversifying investments beyond Bitcoin can mitigate risks and capitalize on other avenues for growth. Whether it's stocks, bonds, real estate, or starting a business, spreading your investment portfolio can enhance long-term financial stability and prosperity.

Your emphasis on understanding the concepts of richness and wealth is commendable. True wealth extends beyond the mere accumulation of assets; it encompasses financial freedom, security, and the ability to live life on one's terms. Investing wisely is indeed a pathway to achieving the life one desires, as it has the potential to generate passive income, foster growth, and secure a brighter future.

Totally that connected to each other on which it would really be just that normal that you would really be needing to be wise on how you would really be that making yourself that be able to determine on which
things that could bring out possible income or revenue on which you could really be able to make those savings if you are really just that having that multiple income source on which we know that
it would really be just that easy if you do have that kind of income on which savings wont really be an issue. The thing here is that if you've been accumulating too much when it comes to fiat in the bank
then tendency that you would really be decreasing your purchasing power as years been passing due to inflation.

To counter this then it would really be needing for you to deal up with investments but of course the risks you would really be needing to take is something that
you could really be able to bare with if you dont really like yourself on having those worries.

I think savings and investment have two roles in a person's life. Both saving and investing are part of future planning. People learn to invest from saving. In my personal life I first had to save and from the saving part I learned to invest. Your savings account won't do much to help you grow your wealth when you save. Investing goes a long way in life. For example, if you save your money monthly or weekly in a bank account, similarly if you continue to use the monthly or weekly method of investing, such as investing in valuable bitcoins, you will surely grow your money in the future. Getting rich can go a long way initially.

You are actually right on this bro, holding Bitcoin is way more beneficial than holding fiat in the name of savings, because if you decide to save fiat maybe in the bank for like 5 years, after that 5 years, you will observe that the figure will still be the same, but it doesn't have the same value as when you started saving it, because inflation is an enemy to any money being saved up.

That's why to me the best way to preserve your money, it's best you hold it in anything that appreciate in value overtime, and Bitcoin is one of those asset that appreciate in value overtime, so it's the best way to hold your money, and it also create wealth for you in the future if you have stark enough holding in your possession.

The amount of Bitcoin you save won't change but the value of those Bitcoin does. By holding Bitcoin especially in next few years, the value would increase like in past several years thus people always have been saying that holding Bitcoin is beneficial because you can get profit from there (hence holding and invest on Bitcoin is interchangeable).
Unlike fiat the value of that fiat is decreased because of inflation, so your post doesn't make any sense here.

agree with you. Investment is indeed good for the future, but unfortunately there are still many people who invest because they push themselves too hard so that quite a few people lose when investing. Stable finances and having sufficient knowledge is one step towards success in investing. Without both, it is better not to invest.

Saving and investing are both necessary to live life, saving is necessary to save emergency funds and other unexpected funds. Investing for the future, clearly the two are very different even though many people think they are almost the same. It is true that saving does not add value while investing the same amount but the value will continue to increase, but both are needed to live life.

You're right. If people put their money into Bitcoin, it is not categorized as saving but it is investing. Mostly people do saving in fiats or USDT, they are something that have no high volatility and no high risk. But if people have fiats or USDT, they won't have the chance to multiply the values with a significant change in the future. Meanwhile people have Bitcoin, it has high risk and high volatility but it can continue to grow its value and can change its value significantly in the future. People may have profits in the future if they put their money into Bitcoin. This is also quite the same as people put their money into gold or real estate, they may increase their values in the future with quite significant change.

True, people won't expect profits when they do saving. But when people want to have investment, they must expect for profits in the future. People invest to multiply their money, it is not only for reserved money in the future.

That's true, of course if there is a profit in what you do then there will definitely be a loss as well, just like an investment. A profitable investment is an investment that is done well if we have a good understanding of investment, because if we make an investment but don't have a good understanding, perhaps what will happen is that we will lose the money invested. and investments are made by people who have stable finances, if our finances are unstable then I don't think we should force ourselves to invest.

and in my opinion, saving is not a bad thing either, it is a good thing or action, because when we want to own an item that has a high price, what we have to do is earn an income and save to reach a certain amount and buy what we want. Also in my opinion saving is a good way of managing money, it is impossible to call saving a bad thing, even though saving does not produce wealth, I am sure that in every family there is someone who does this.

Timely investment makes people wealthy. Investment is the way forward because inflation is increasing and purchasing power is decreasing. Saving will not make you rich but investment will. Invest in Bitcoin when it is cheap and hold it for at least 10 years. Trust me, you won't regret it. Investment in offline assets is also important. Buy some property, Gold, and Silver, and invest in stocks because the continuous devaluation of $ will impact us big time in the next few years. For the future, you should also have some savings in the bank for rainy days.

That's right, the difference between saving and investing and what doesn't make us rich is saving because there is no possibility that we will get it.
And indeed all possible profits will also be accompanied by risks so that there is a very different difference between saving and investing so from any angle they cannot be the same.

To invest there are many things we have to learn to be able to get a profit because investing is not just about profit but there are many possibilities that we will get.