Topic: Saving don't make wealth - page 6. (Read 2592 times)

     On the other hand, it's really different when you have savings in your house or in the bank because, at any moment, you can steal something at an unexpected time. You can also do that while you are doing a business that you like. As long as you are making money, that is good.

     And if you are still able to set aside for investment, it depends on your ability; you can still do that in reality. It doesn't matter that you won't get rich saving as long as you have at least something saved, in my opinion, but as for your crypto, if you do that, you will have a bigger chance of getting a big profit if the crypto asset you buy is right.

There are many people who love to save a lot but they have to think about the fact that the person who is doing this saving is not getting any benefit from saving so if he doesn't save this money and keep it for a long time with bitcoins then he will get a lot of money.  And then if he saves some part of that profit then that saving will be real saving.





  There are many people who save about 50% of their business if they apply this money in their business then they will make about 150% profit every month then if they keep 25% out of that profit then their savings is called real savings,  Saving is useful for him in many ways like for example if he gets a big illness then he can recover from that big savings so saving does not make one rich.

In my opinion, having an emergency fund is quite important before investing. because just in case, of course we must have funds that are prepared to handle emergency situations, such as accidents, medical costs, or others. In my opinion, this must be paid attention to when making an investment, and of course before making an investment we also have to save first, because of course to make an investment you have to use money that is nominal and sufficient in amount, it is impossible to invest using a reasonable amount of money, according to I think these two things are interrelated, saving for investment and investing after saving.

What you say is correct, to make an investment of course we must have a good understanding first to avoid the risk of losses that will occur, because this investment is related to profits and losses, but these losses can be minimized if we have good knowledge of the aspects related to it. investment. Don't invest without the slightest knowledge, because it will only be a waste of money. It's better to learn everything related to investment first so that there are no big losses. Profits from investment can be obtained if we do it as well as possible, including by preparing emergency funds first.

It depends on where youre coming from.  Even if what you say is true because in the end saving is much better than investing but not everyone understands what investing is and in fact a lot of people end up falling and experiencing losses due to investment so in this case it depends on the qualifications of each person as well in the end .
We would say that investing is just about putting money into an asset and waiting for it to do well over a period of time but this kind of thinking tends to be naive because after all even if we are in investing but without having a good knowledge base and selfqualification it becomes a disaster in the end .

Many people who are conservative in their thinking sometimes take a safer situation where they keep their money even though it is definitely worth less than trying to be in a new zone but it is also not a wrong choice for them because they do not want to try something with the money they have. So as not to get into trouble another day.
So in this case, it depends on each person's thinking in the end whether they want to stay in a conservative pattern or try something more risky .

I think you're confusing the concept of savings and investing.  Also, the title of your post should read "Saving doesn't make wealth", not "Saving don't make wealth". 

Savings CAN make wealth, and just because one is "saving" and "not" investing in your view, they still might be investing.  Saving money at a bank account that provides a rate of return, is still technically investing.  No different that buying a US bond or note. 

Well, holding Bitcoin never made us rich until the time we converted it to fiat money. Rich people never save money but rather make it circulated and keep on rolling. In fact, that is how money works and if we want to become rich, we also never stop thinking about how to grow our money, not how to save them because value will depreciate due to inflation.

People are holding their Bitcoin not because they are saving but because they are waiting for the ATH and sell them. In this volatile market, it is somewhat important that we need to learn how to hold if we want to earn huge profit.

If you do really know on how to cycle up yourself then you would really be coming up into that idea that you would really be having that having that investment approach when you do have the savings
and on the time that your investment boomed up or making some profits then this is the time that you would really be considering on having a savings on which this is really something that you could
be having that double purpose but of course this might sounds easy but its not something that you could really be easily to pull off. This isnt something that means that you could be having that guarantee
on making money or success with your investment or business on which we know that there's no way that we could be able to succeed on 100%.

If you do really know on what you are doing then its good but if you are afraid on taking up the risks and doesnt mind about any progress then you would really be just simply sticking
on where you are now.

Investing without providing emergency savings already looks like a pretty ridiculous thing now, because besides having to consider investment as something important for the future. Everyone also needs to look at the present with conditions that are sometimes very uncertain so they still have to provide emergency savings for the time they are living now. And the investment goals themselves are also quite clear as you said because almost everyone has the goal of building wealth, paying for education, buying a house, etc. after making more research before making the investment itself.

Whether op has concrete idea about investing or not, we can make a fortune from investing and saving at the same time. Maybe we can take a look on cryptocurrency investing after we have saved enough to buy Bitcoin and holding it for the bull. We need to be wise and always saving our money so that we don't need money and not have it at hand to spend. If we have good strategy of saving, we can make money from our crypto investments even though it's not all about crypto. Saving has helped me a lot of time to keep earning without much stress. We can make money from cryptocurrency if we know how to trade too while holding our funds.

The values of saving assets will decreasing year by year regarding the inflation values of fiat but difference way when saving put in the investment assets, many success businessmen they don't hold their fiat or saving money in the bank for longer time because understood well with the inflation values in the future and not increasing yet with their saving although put in the bank more than several years later. I know the important between saving and investment when emergency situation, with investing we can sell it when we need or facing emergency situation the same with saving but get positive side with investment will increase the values or assets we hold.
Investment not required with long term or short term, the same with saving when need it on emergency situation we can sell the investment fund and get chance to earn profitable few percent.

Left for me, I think it's the people that doesn't have an investment plan or what to invest on that would just save their money in fiat currency, well like you said it's not a bad idea, but you benefit more when you invest your fiat on a good business or asset that would yield good profits, there are lots of things people could invest on, like, Gold, Real Estate, buying of shares from top rising companies or even invest in bitcoin, just like the OP said, saving won't make one become very wealthy cause the fiat you're saving won't appreciate but would rather remain stagnant or even depreciate when the country is facing inflation or economic crisis, but if you make good investment on the right asset you could make double profits of your savings in future.
 Also I think the idea of saving is mostly among the poor and some middle class people, rich people barely save their fiat, but rather use it to make investments in business and assets, for one to be wealthy you ought to quit saving the fiat you have, maybe in the bank or any anywhere but think of a good invest plan that would help grow your money and yield you profit in future, in conclusion to your statement, my advise to people is that saving might be a bad idea but investing your savings to get more profits is best.

Savings Investments are both important savings people think of investing. How to invest without savings are usually short term used for future emergencies or specific purchases and do not require much research. Investment has an advantage that no ill effects of inflation remain after the investment. Investments are usually made for the long term which are used to achieve big goals like building wealth financing education buying a house etc and require extensive research.

Totally agreed with you as per inflation why saving in fiat, it's more dangerous to save in fiat instead investing it outside bank by building industry, rented apartment, or Land properties like estate is better if one don't trust online investment like Bitcoin.

Many have this ignorance not knowing that saving in fiat has many cons as less value is added to their savings as the inflation and economy drop can affect it.

Though saving money is not issue most time but many have the zeal to invest such as Bitcoin but don't have what it take base on low income even if you are making use of DCA it still require your consistency inorder to maintain it running.

We still have to have savings, but in a portion that is not so large and also only to prepare emergency funds. or just to collect money before investing. Or in other words, savings are only effective for the short term and not for the long term. Because if we save in the long term, we will only see our money shrink in value due to the impact of inflation. So if we talk about the long term, investment is what we have to do.

But in entering the world of investment, we must also equip ourselves with sufficient insight and information. Because investment does have risks that we have to take. And we must be able to minimize risks with thorough, fundamental analysis. So many beginners also lose money in investing. Because they do not have mature insight and information preparation. So they are easy targets for fraud, which is actually increasing in number nowadays.

Investment is very good but how can someone who is earning very little make investments when they don't save? So to me, savings and investment works hand in hand because someone can save some money and start up an investment in the future so it doesn't mean we shouldn't save money at all, and owning an investment is associated with so many risks as one can even lose all the money during an investment but someone who has saved a whole lot of money can establish a business that can be sustainable for life.

That's because you guys are ill-informed. Don't know where you got the idea that saving would lead you to riches but it doesn't work that way, nor was it portrayed to work that way in the first place. What you mistake savings for is investment, where you put your money into work instead of slaving for it on your daily 9-5. With investment, you get the guaranteed benefit of earning more than what your salary grade provides, with all the liberties the market could provide you, which in turn allow some of the people who ventured into investments to earn millions and find riches.

On the other hand, savings, as the name implies, is meant to "save" your money for the sake of something else. Instead of splurging it all into booze and bitches you keep a portion of your money for yourself as emergency funds, will the emergency funds make you rich? No! What it will do to you is make sure you don't die of poverty when you do get sick.

I hope this analogy shed a light on this massive misconception against savings. You're not supposed to get rich off of saving your money, if that's the case then we'd have a lot of scrooge mcducks in here already, you're only saving because you have to prepare for a massive, often unexpected expenditure in the future. Nothing more, nothing less.

And that is why people will want to do saving than taking risk people don't want anything that will put there money in risk and that is why some people are still in the same stage they are. Because they are not ready to take any risk. You need to make choices that will change your current situation. Looks like some people are comfortable with the way they are leaving so they would prefer to save than risk it. And investing as a lot of benefits if the investment goes well your money will grow. I don't like that mentality that if the invest they might lose people like that won't make you grow. Because anything you want to do they are already discouraging you.  If you have people like that just qviod them to aviod stagnation in your life.

So, It looks like the savings vs investment discussions hasn't been settled yet and I've already seen quite a few threads with the same context about savings vs investments.
IMO, a person who doesn't have savings who jumped immediately to investing are most likely going to fail on the latter. Why? because in times of emergencies that would put him in a situation where he needs an urgent finances, he'd most likely going to withdraw his investment out from his portfolio. What's worst about that is when the market is in a bear market, you'd probably going to get very little ROI to non or even a loss at the very worst scenario.
Yes OP's title is correct, Savings doesn't make someone wealthy, but it is the way rather the first stepping stone to wealth. How can someone make an investment with a good ROI if he does not have any savings? If you have like $500k of savings and you put half of it to bitcoin, imagine how much of a profit you'll gonna make when the value of bitcoin hits 6 digits? Compared to someone who does not have savings and were only depending on DCA every payday.


I disagree with this statement. It's not the concept of "savings" that made some people poor, I think you mistyped the word "overspending". Savings could definitely make a difference, you can only say it does not make one because investments usually has faster results or ROI.

Saving is without risk while investing is full of risk.
So it's natural that we won't increase our wealth by just saving, which is different from investing. I think this is all about the mindset of someone who is afraid to invest and vice versa, someone who wants to increase their wealth by investing and then learning a lot about it.

I once met someone who was very afraid to invest because he was afraid of losing, so because of this fear he didn't have anything
If we talk about which one is better then of course investing will be much better, especially for people who already understand the science and know where to invest, but this does not apply to everyone.

Trying to save without making any investment is fucked up, in a time like this when the world is getting digital and making investment(both online and physical) is the one remedy to escape from poverty and being broke during retirement ages. Even aside investment in Bitcoin one should have something to financially depend on as an alternate source of wealth.

Our savings can finish within a limited period but investment can hardly fall out as long we maintain good investment ethics.