Topic: Should you save, when you are wealthy? - page 14. (Read 1993 times)
Even if you have the money to literally buy anything you want, it is still important to save even just a fraction of your wealth for future purposes. You can always keep them in time-deposit accounts or on accounts that accrue interest over time (some government-backed investment programs do this) if you still want your money to work for you. You'll never know when your fortunes will all be spent, or your investments will take a bad hit, so better be safe than sorry. Besides, what's a few hundred thousand or even a few million stashed someplace compared to what you are actively investing and growing money on? I think it won't hurt if you keep it for safety purposes.
Saving is an important thing for the future so it's feasible and we have to do it, many unexpected things happen in life so without saving it will be difficult for us, besides saving of course saving money in the form of investment is also good and highly recommended because it will make our money increase drastic.
I believe a person cannot become wealthy without disciplining oneself to cut expenses and save money. The question is “are you saving wisely”. Keeping aside a certain amount every week/month in the bank isn’t going to change your financial situation. The money is just sitting there idle, the banks do not even give reasonable interests on savings account. In my case, I live in Nigeria but I don’t save my money in my local currency instead I save my money in usd. This helps me double my savings faster when the naira falls against the US dollar. I’m saving but at the same time it is an investment.
By saving, you can achieve the accumulation of a certain wealth, but in order to become rich, it is unlikely to succeed. Wealth is achieved either by a career at work, or a successful business, or other random events, but not by saving money. Someone is lucky in the lottery or in the casino, someone with an inheritance or a successful marriage / marriage, but I have not yet heard that an economical lifestyle has led someone to wealth.Moderation and reasonable economy are needed in everything, this is a good trait that will not interfere with any degree of wealth.
In my opinion, to live a risk free life, you should always save for it. I don't think it has anything to do with wealthy or poor status. But savings should be done only after meeting the need. Danger can come at any time in human life and it is wise and very important to prepare and save in advance to avoid these types problems.
Everyone who wants to create a fortune has a long way to go, first we need to learn how to earn, save and then learn how to make money work for us. Someone creates a business for this, someone is looking for investments, but the essence remains the same, we earn, save and increase our capital.
I'm wondering how long we'll need to do the savings? Who has already reached any significant level, are you still saving, or you can afford to live without any financial restrictions?
I have just started taking steps towards achieving my well-being and it is still very difficult for me to understand how I can achieve my goal and become a wealthy person. The thought that I will have to save for a long time now seems difficult, will it not tire me, will I be able to go this way. I already have some bitcoin and I like the feeling that I own something of value. When I manage to save some money, I buy again, but this is not permanent because I do not have a permanent job. Sometimes I want to buy new sneakers, and I decide to buy or postpone, sometimes I doubt if I'm doing the right thing, maybe I should provide myself with everything I need and save only what remains, if left.
Probably now I am thinking that I would not like to save all the time, I would like to reach the level at which I would be a wealthy person and I would not have to worry about money, but I have no idea when I can achieve this.
You will never achieve your goal and become wealthy without forcing yourself to save in the first place. You should know that even the wealthy men in the world are still going on a budget and are still saving at the end of the day. So how much more for a beginner like you when in fact you don't even have a permanent and stable job that can sustain your life. That's why as much as you can, learn to save. You can still buy what you want or need but never spend above your means, otherwise you will become broke in the end. And always save first before you spend, that is if you want to benefit in the future. I'm wondering how long we'll need to do the savings? Who has already reached any significant level, are you still saving, or you can afford to live without any financial restrictions?
I have just started taking steps towards achieving my well-being and it is still very difficult for me to understand how I can achieve my goal and become a wealthy person. The thought that I will have to save for a long time now seems difficult, will it not tire me, will I be able to go this way. I already have some bitcoin and I like the feeling that I own something of value. When I manage to save some money, I buy again, but this is not permanent because I do not have a permanent job. Sometimes I want to buy new sneakers, and I decide to buy or postpone, sometimes I doubt if I'm doing the right thing, maybe I should provide myself with everything I need and save only what remains, if left.
Probably now I am thinking that I would not like to save all the time, I would like to reach the level at which I would be a wealthy person and I would not have to worry about money, but I have no idea when I can achieve this.
My answer is absolutely yes, because I think it's exactly a habit, even a disease. :) So, if you've really turned into a person who always saves, you can't give up that easily. A person who has managed to deal with his economic relations on a rational plane never gives up on saving and considers the opportunity cost in almost everything. I used to be a person who could not save, but in the last 4-5 years, I have experienced a change in mind and I have started to live my life exactly like a homoeconomicus. Frankly, I am happy with my life. :)
If you have money, then learn to develope a character that saves money for the future, this will help a long way in meeting up with demands that may be arising later in life, and by then, there would have been a massive increase from your savings which would have turn a profit realization is what you're saving up is bitcoin in cryptocurrency and not fiat which may loose in value, one thing good about savings is that it will appear as if you're dashed the money free after you would have saved enough.
Definitely yes. Saving is very important most especially if you are very able to save because you have a lot of resources that generate you an income, so saving and safekeeping your funds is very vital. Otherwise, if we never care about saving because we always think wealth and fortune will always be there, so we might end up completely broke because of overspending. And in cases where unforeseen events might happen, then we can’t no longer prepare for it because we never save even a potion of our wealth, and so we end up struggling to earn some funds again.
It is one thing to make money, but a whole other story to keep it. When you do not have enough money, you do not spend a lot of money.... but when you have money.. your toys just gets more expensive.
You buy a bigger house and several cars... and suddenly your taxes are higher.. you pay more for insurance etc.. etc. (It is an art to manage riches, without losing it all)
Because many of us don't care about the value of money and how hard we get especially rich people. Honestly, they are enjoying their life and keep doing that until they realize it. But some people will say that we never know what awaits us or if we may die tomorrow, and that is why we are enjoying our money today. They have some points but we should also have to learn the importance of savings as this will not just help us but for our family, especially for the future of our kids. We might have money today and we can buy luxury things but yes, we never know in a few years from now when we have no energy left to work or to run our business. You buy a bigger house and several cars... and suddenly your taxes are higher.. you pay more for insurance etc.. etc. (It is an art to manage riches, without losing it all)
Everyone who wants to create a fortune has a long way to go, first we need to learn how to earn, save and then learn how to make money work for us.
Everybody needs to learn how to earn but saving is a long-term ago scam strategy we are thought in school to believe saving is one of the ways to build wealth.Saving is the mental thinking of poor people, the wealthy invest in assets instead of saving their fun and living on loans to be task free.
saving doesn't have to wait to be rich, because saving is an obligation if there are unexpected funds that must be met without borrowing from other people, saving also doesn't have to be in large amounts. I think saving as much as we can as long as we have savings for unexpected times
buying things just for lifestyle is currently a trend all over the world, everything returns to the thoughts of each individual because lifestyle will not die, you will always feel dissatisfied and want more and more
buying things just for lifestyle is currently a trend all over the world, everything returns to the thoughts of each individual because lifestyle will not die, you will always feel dissatisfied and want more and more
As I said about money, it can run out in an instant, indeed, unexpected possibilities like this must be kept in mind and minimized, but this does not mean that we will not prepare because of course this is something we must be aware of, so the hope is to keep saving. there is and of course we can also do something else to be safer, of course, such as by investing in several sectors that are indeed feasible, it is worth thinking about.
Every use of money must determine the limit of each need so you will not be greedy to buy expensive things without thinking about the need for savings for the future, we must be aware of excessive use of money before we lose everything because money is easy to spend but difficult to increase, so while we have money is better to be diverted to investing in gold, real estate and partly for crypto because we must have investment items to improve financially for the future. 
Bitcoin is my only investment at the moment, I hope that in the future it will help me create some kind of capital for further development.
A good step for the decision you make, but you also have to have a loophole to take advantage of this condition, so that the value of the investment you make increases. There are several patterns that you can apply to capital-adjusted purchases, the DCA approach will usually be easier to implement, if you don't have a large capital to purchase.Saving is also important when you can adjust and bitcoin is the closest thing that will get you to the stage of financial independence, it's fine if you have to start with a smaller amount, but it has to be done regularly to get you there.
It doesn't matter what our social status is, but saving is something that must be done to prepare for something that might make it difficult for us in the future. Maybe now we can meet all needs, be it premier, secondary or tertiary needs, but can we guarantee that we can meet these needs in the future, of course not. As rich as we are, if we can't manage finances properly then we will eventually go bankrupt too. Saving is one of the things so that we can prepare for this in the future. But in my opinion, don't just save, let's also make investments that we will take in the future.
Saving is an investment for the future, not only for ourselves, but for our descendants and so on. We all know that money is not a guarantee that we will be financially secure forever, it can run out in an instant for unforeseen reasons.So whoever will save whatever his current wealth, it doesn't matter. Wealthy people may no longer think about themselves but for their family and offspring is the possibility that they are focusing on.
As I said about money, it can run out in an instant, indeed, unexpected possibilities like this must be kept in mind and minimized, but this does not mean that we will not prepare because of course this is something we must be aware of, so the hope is to keep saving. there is and of course we can also do something else to be safer, of course, such as by investing in several sectors that are indeed feasible, it is worth thinking about.
It is one thing to make money, but a whole other story to keep it. When you do not have enough money, you do not spend a lot of money.... but when you have money.. your toys just gets more expensive.
You buy a bigger house and several cars... and suddenly your taxes are higher.. you pay more for insurance etc.. etc. (It is an art to manage riches, without losing it all)
You buy a bigger house and several cars... and suddenly your taxes are higher.. you pay more for insurance etc.. etc. (It is an art to manage riches, without losing it all)
Seriously is just like you saying you won't again after getting wealthy. Savings as the name implies to save one from any unforeseen contingencies later in the future, God forbid but do you know that some wealthy people because of mismanagement of funds and financial intelligence went bankrupt and become nothing because they don't have any support system when they crashed.
They wont mind off these things as long they do still have the money and they would really be that confident that they could really be having that money like forever without even trying to look at on what are the possible things that would lie ahead which is something that it is out of control.We do know that regret do always come at the end on which you wont really be seeing this upfront.This is where it would really be just sensible that you should really be that be prepared for whatever
things that could possibly happen.There's no such thing about assurance on having money like forever because no matter how many investment you do have it wouldnt
assure that it would really be exempted on bankruptcy.This is why always be considerate on having back up plans.
I'm wondering how long we'll need to do the savings? Who has already reached any significant level, are you still saving, or you can afford to live without any financial restrictions?
Well, you do need savings for several occasions. It's for when you need something urgent and stuff are not running behind your expectation. That's what most of the savings do anyway, you need it when the situation calls it.Sometimes I want to buy new sneakers, and I decide to buy or postpone, sometimes I doubt if I'm doing the right thing, maybe I should provide myself with everything I need and save only what remains, if left.
Human pleasure is always a burden thing to fulfill. Maybe do a 10% rule saving and then you can do everything you want with the rest? I feel it's more appropriate to do for you to balance your consumptive behavior and also for you future savings.Probably now I am thinking that I would not like to save all the time, I would like to reach the level at which I would be a wealthy person and I would not have to worry about money, but I have no idea when I can achieve this.
Many people wants that, but it's hard to because of how people have different background that avoids them to become one. As long as you don't struggle with the money, I think you are fine for the rest of your life. Everyone who wants to create a fortune has a long way to go, first we need to learn how to earn, save and then learn how to make money work for us. Someone creates a business for this, someone is looking for investments, but the essence remains the same, we earn, save and increase our capital.
I'm wondering how long we'll need to do the savings? Who has already reached any significant level, are you still saving, or you can afford to live without any financial restrictions?
I have just started taking steps towards achieving my well-being and it is still very difficult for me to understand how I can achieve my goal and become a wealthy person. The thought that I will have to save for a long time now seems difficult, will it not tire me, will I be able to go this way. I already have some bitcoin and I like the feeling that I own something of value. When I manage to save some money, I buy again, but this is not permanent because I do not have a permanent job. Sometimes I want to buy new sneakers, and I decide to buy or postpone, sometimes I doubt if I'm doing the right thing, maybe I should provide myself with everything I need and save only what remains, if left.
Probably now I am thinking that I would not like to save all the time, I would like to reach the level at which I would be a wealthy person and I would not have to worry about money, but I have no idea when I can achieve this.
I'm wondering how long we'll need to do the savings? Who has already reached any significant level, are you still saving, or you can afford to live without any financial restrictions?
I have just started taking steps towards achieving my well-being and it is still very difficult for me to understand how I can achieve my goal and become a wealthy person. The thought that I will have to save for a long time now seems difficult, will it not tire me, will I be able to go this way. I already have some bitcoin and I like the feeling that I own something of value. When I manage to save some money, I buy again, but this is not permanent because I do not have a permanent job. Sometimes I want to buy new sneakers, and I decide to buy or postpone, sometimes I doubt if I'm doing the right thing, maybe I should provide myself with everything I need and save only what remains, if left.
Probably now I am thinking that I would not like to save all the time, I would like to reach the level at which I would be a wealthy person and I would not have to worry about money, but I have no idea when I can achieve this.
Seriously is just like you saying you won't again after getting wealthy. Savings as the name implies to save one from any unforeseen contingencies later in the future, God forbid but do you know that some wealthy people because of mismanagement of funds and financial intelligence went bankrupt and become nothing because they don't have any support system when they crashed.
Everyone who wants to create a fortune has a long way to go, first we need to learn how to earn, save and then learn how to make money work for us. Someone creates a business for this, someone is looking for investments, but the essence remains the same, we earn, save and increase our capital.
I'm wondering how long we'll need to do the savings? Who has already reached any significant level, are you still saving, or you can afford to live without any financial restrictions?
I have just started taking steps towards achieving my well-being and it is still very difficult for me to understand how I can achieve my goal and become a wealthy person. The thought that I will have to save for a long time now seems difficult, will it not tire me, will I be able to go this way. I already have some bitcoin and I like the feeling that I own something of value. When I manage to save some money, I buy again, but this is not permanent because I do not have a permanent job. Sometimes I want to buy new sneakers, and I decide to buy or postpone, sometimes I doubt if I'm doing the right thing, maybe I should provide myself with everything I need and save only what remains, if left.
Probably now I am thinking that I would not like to save all the time, I would like to reach the level at which I would be a wealthy person and I would not have to worry about money, but I have no idea when I can achieve this.
I'm wondering how long we'll need to do the savings? Who has already reached any significant level, are you still saving, or you can afford to live without any financial restrictions?
I have just started taking steps towards achieving my well-being and it is still very difficult for me to understand how I can achieve my goal and become a wealthy person. The thought that I will have to save for a long time now seems difficult, will it not tire me, will I be able to go this way. I already have some bitcoin and I like the feeling that I own something of value. When I manage to save some money, I buy again, but this is not permanent because I do not have a permanent job. Sometimes I want to buy new sneakers, and I decide to buy or postpone, sometimes I doubt if I'm doing the right thing, maybe I should provide myself with everything I need and save only what remains, if left.
Probably now I am thinking that I would not like to save all the time, I would like to reach the level at which I would be a wealthy person and I would not have to worry about money, but I have no idea when I can achieve this.
In my opinion, in order to build on what is called success or wealth, we have to start from scratch, look for a permanent job first as a salary in savings first, if we have a lot of savings, then we invest in assets that have the potential to increase in the future because if we only save, we will hit by inflation.
and we have to have something called passive income, if we exchange our time to get money we will not be able to be rich forever, in my opinion, make money from money like rich people do, then we will achieve what is called financial freedom.
It doesn't matter what our social status is, but saving is something that must be done to prepare for something that might make it difficult for us in the future. Maybe now we can meet all needs, be it premier, secondary or tertiary needs, but can we guarantee that we can meet these needs in the future, of course not. As rich as we are, if we can't manage finances properly then we will eventually go bankrupt too. Saving is one of the things so that we can prepare for this in the future. But in my opinion, don't just save, let's also make investments that we will take in the future.
Saving is an investment for the future, not only for ourselves, but for our descendants and so on. We all know that money is not a guarantee that we will be financially secure forever, it can run out in an instant for unforeseen reasons.So whoever will save whatever his current wealth, it doesn't matter. Wealthy people may no longer think about themselves but for their family and offspring is the possibility that they are focusing on.
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