By saving you can be rich in many ways, not only the amount of money you can collect, there are many important things that you can get when you set aside some money for savings. One of the benefits of saving is that it will make your finances more stable, at least you have savings to finance expenses that you never thought of before.
By only saving without investing, you can only be temporarily rich; when you stop saving and start enjoying the money you have accumulated, you will definitely squander it within a few months or after a few years.
When you save to only settle some arising expenses, after which you will need to save up to cover the other expenses you have already spent, you keep doing so for a long time just as if you are moving in a circle, and perhaps money spent does not regenerate unless you work for it again.
well, saving can indeed make someone rich, and guarantees for old age if they consistently do it. it's just that, I think that saving will not be optimal if the salary we have is small. therefore, maybe building a business slowly will also become an asset that can make us rich. almost all the rich people who exist today are rich because they have a qualified business. they achieve financial freedom because of their business. so, I think focusing on doing business, and saving money will slowly make someone rich, and maybe be able to get economic security in their old age. Besides that, it will be great when you start saving above 30% of your income when your business is really running smoothly.
That is perfect, with a touch of good example. Building a successful business and not just some small-scale business can save someone's ass during old age because even when the person is old, they can still hire managers to handle the business should their children not be able to do so. A man in my country owns one of the biggest hotels in the city, and being a good entrepreneur, he has more than 20 hotels in different cities in my country (this is no joke). This man is old now, and his children are his successors in the business. So the thing is for someone to either have a good business or a good investment.
I think the first step is a stable income, then you can save a little of your income, then invest it, but it is better if it increases your income, then your investment will start faster and will bring a larger amount of profit.
With the inflation rate now being so high, I don't really know what stable income means, especially when one is working to earn money. In my country, some minor workers are not even earning up to $200 per month, and I know most of them even end up spending their whole salary on budget without a single saving, and that's because things are very expensive. The higher the investment, the higher the profit to be expected. But I just think if one's mind is made up to invest, then it is better to just invest the little money the person has been able to gather; otherwise, if the person thinks of waiting until the money is big before they can invest, they may end up spending the one they already saved. Although not everyone is prone to do that, but that's not when a person is faced with a pressing need. Bitcoin has made it easy for investors who don't have enough money to invest to invest gradually with as little as $10 or less.