Topic: Should you save, when you are wealthy? - page 9. (Read 1980 times)
My thinking is that you cannot be wealthy unless you have quite a bit of savings. Now, a different thing is that concept of "saving" which for the wealthy should really mean investing wisely with adequate risk and adequate returns. Having good earnings is just the beginning of creating that wealth and that asset base that generates passive or semi-passive income and makes long term wealth.
saving is very important because not all the time that our body is strong sometimes we got sick and it needs medication and medication needs money we need to save for emergency reason because we dint know when we can face the emergency situation saving money is not only for wealthy person we can also save even if we are in the middle class or even we are poor we can still save if we wanted to save.
Agree. We need savings for urgent needs or unpredictable things in the future, it is not only about daily needs. When we got sick which requires a lot of money, we spend our savings. We also may use our savings for the educational purposes of our children. Don't forget that education costs are very expensive nowadays, in my country only rich people can afford to join favorite schools. Low and middle-class people can't pay the school costs if they have no savings. Even rich people, also need to spend their savings because the favorite schools have varied programs which require a lot of money. So, it will be difficult if we have no savings.
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'd still saving even if I had a chance to be in that phase. I bet even richest people out there have savings in case something bad and fatal happen in their life, savings are a must if you at least want to be safe in your financial decision. Sure, you may not need to worry about your money because of your job or the way you obtain the income but let's be real here we don't know what would happened in the future and so many cases have been published in news where rich person could also get dragged down to be a poor because of some reasons, just be aware.
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'd still saving even if I had a chance to be in that phase. I bet even richest people out there have savings in case something bad and fatal happen in their life, savings are a must if you at least want to be safe in your financial decision. Sure, you may not need to worry about your money because of your job or the way you obtain the income but let's be real here we don't know what would happened in the future and so many cases have been published in news where rich person could also get dragged down to be a poor because of some reasons, just be aware.save up at least because no one really knows on when you do have those riches would last but of course not all would really be mindful about this kind of disaster on which they do really still believe that they could be able to withstand on whatever difficulties that they would be facing up ahead specially when it comes to money. No one really knows and this is why we shouldnt really
make ourselves that too confident.
I save money only to manage my finances so that I don't carry too much cash, very low bank interest cannot be expected to get profit from saving money in banks, especially now that the government often makes financial policies that are difficult, for example limiting withdrawals of large amounts of money .
Those bank interests, you shouldn't expect them to give you much profit. They're the ones who earns a lot of interest from your money and they'll only give you a very tiny portion of profits they've made. The purpose of the banks for those anxious with money is just to be the safevault, as in. They just have to go there if they need money and withdraw it from them and go back when they've got money ready to be deposited and let them alone use it again for another lending business that they're doing. AFAIK, most people on this world never stop earning no matter how much money they own at the moment and the reason for this varies from one to another but majority just don't want to stop because they want to create wealth even for their upcoming generations and it's a good thing to do but if they are making money in the honest way then it's appreciable and can inspire lot others to follow the same path.
When we start to make money, we tend to make more and desire more. That is because part of our human nature that we're not content but going with some reality, it's also because we don't know what's with the current situation of the economy. Lucky are those people that have generational wealth and not just that, they've also inherited businesses, investments and assets. Today, we might have a lot of savings but if inflation hits it, the value of that savings won't really matter anymore but if you've got also the latter part, you'll manage to survive. 
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'd still saving even if I had a chance to be in that phase. I bet even richest people out there have savings in case something bad and fatal happen in their life, savings are a must if you at least want to be safe in your financial decision. Sure, you may not need to worry about your money because of your job or the way you obtain the income but let's be real here we don't know what would happened in the future and so many cases have been published in news where rich person could also get dragged down to be a poor because of some reasons, just be aware. 
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.
The creation of monetary savings, in my opinion, is not an end in itself.
Each person has at least 12 major life goals which include family, lifestyle, self-realization, relationships with other people, etc. It is success in achieving all your goals that will make you a happy person. At the same time, you must live here and now. It makes no sense to postpone your life for the future, we are all mortal and do not know our future - we must live in the present.
You should definitely buy yourself comfortable sneakers and periodically please yourself and your loved ones with purchases of new things.
You need to challenge yourself - this will allow you to earn more than you earn now.
The more interesting ambitious goals you have in life, the more motivated you are to make more money. And the more money you make, the more Bitcoins you can buy!
I save money only to manage my finances so that I don't carry too much cash, very low bank interest cannot be expected to get profit from saving money in banks, especially now that the government often makes financial policies that are difficult, for example limiting withdrawals of large amounts of money .
Saving is an excellent thing to do because it helps us prepare for big things, however right now I can't save because I have so many expenditures to pay for.
Due to my familial history, I am unable to save money. Instead, when my family is in need, I work hard to meet their needs until the time comes to save.
Since you are in financial difficulty or you want to make a purchase, I am unable to advise you to save money. Why work if you have money saved for the future and want to buy something now and can afford it?
Due to my familial history, I am unable to save money. Instead, when my family is in need, I work hard to meet their needs until the time comes to save.
Since you are in financial difficulty or you want to make a purchase, I am unable to advise you to save money. Why work if you have money saved for the future and want to buy something now and can afford it?
I think saving is not only about for us in the future. but also about preparation for our future offspring. so even people who are already rich will definitely still have savings and maybe even be more diligent in saving. but what we need to know is that the mindset of rich people is actually always thinking further ahead. they are good at seeing potential. and they are always brave in taking a step forward to gain higher success.
but if you want to enjoy life without thinking about having to save. So I think first you have to achieve financial freedom. where you are no longer worried about the money you spend. because you already have income that continues to flow even without you going to work. Financial freedom is what everyone dreams of. even out there there are still many rich people but do not have financial freedom. they are still busy minding their business. it's as if they don't allow their bodies to enjoy life more. they continue to have lofty ambitions. when something has been achieved they will try to reach higher. and it continues.
but if you want to enjoy life without thinking about having to save. So I think first you have to achieve financial freedom. where you are no longer worried about the money you spend. because you already have income that continues to flow even without you going to work. Financial freedom is what everyone dreams of. even out there there are still many rich people but do not have financial freedom. they are still busy minding their business. it's as if they don't allow their bodies to enjoy life more. they continue to have lofty ambitions. when something has been achieved they will try to reach higher. and it continues.
AFAIK, most people on this world never stop earning no matter how much money they own at the moment and the reason for this varies from one to another but majority just don't want to stop because they want to create wealth even for their upcoming generations and it's a good thing to do but if they are making money in the honest way then it's appreciable and can inspire lot others to follow the same path.
There are many rich people around the world who save their money or wealth that in the end they do not benefit from it, but the ones who benefit from their savings are the families they left behind.
That's why other rich people, when they feel that they are close to death, they prefer to pour and give their savings to needy people, like others who give to foundations either for the adults, kids cancer survivors for at least until last moment of their lives they helped many people in need.
That's why other rich people, when they feel that they are close to death, they prefer to pour and give their savings to needy people, like others who give to foundations either for the adults, kids cancer survivors for at least until last moment of their lives they helped many people in need.
The distinct line between wealthy people and struggling people is that the former has the fortune and resources at his disposal and believes in buying an asset and investing his money to make more money. So, the asset is what covers all for them, which is more than savings as the asset generates more money over time.
While the latter saves because of their little resources. They might be saving for a project or financial plans, they just don't have an option if they want to excel. But this would stop the moment they are wealthy because, at that stage, they will only be taking money out of their investment which I believe is better than saving.
While the latter saves because of their little resources. They might be saving for a project or financial plans, they just don't have an option if they want to excel. But this would stop the moment they are wealthy because, at that stage, they will only be taking money out of their investment which I believe is better than saving.
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 already started your journey to achieve your goal because you have savings and some Bitcoin. If you want to become rich then don't just save, learn to invest not just in Bitcoin but in other opportunities that can give you passive income.If you want money work for you, investing is the key whether in assets or in business. However it's not going to be easy as it seems because it needs a proper plan and knowledge. But if you're really determine, nothing is impossible just don't give up.
Most times we just worry ourselves and bother out minds and hearts with what doesn't really seem necessary.
It's high time we just start living our lives to the fullest after all, we would all die someday and what will be the essence of all this works when you can get the things you need and desire even when you can afford them.
I would advice that in all you do, you should try to get a stable source of income by so doing, it will help to make your savings more easier for you and I understand your fears when you say that you aren't sure if you can save and that's also same fear people who save out of pains have and you should simply just take things easy on yourself.
It's high time we just start living our lives to the fullest after all, we would all die someday and what will be the essence of all this works when you can get the things you need and desire even when you can afford them.
I would advice that in all you do, you should try to get a stable source of income by so doing, it will help to make your savings more easier for you and I understand your fears when you say that you aren't sure if you can save and that's also same fear people who save out of pains have and you should simply just take things easy on yourself.
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 already started your journey to achieve your goal because you have savings and some Bitcoin. If you want to become rich then don't just save, learn to invest not just in Bitcoin but in other opportunities that can give you passive income.If you want money work for you, investing is the key whether in assets or in business. However it's not going to be easy as it seems because it needs a proper plan and knowledge. But if you're really determine, nothing is impossible just don't give up.
We cannot guarantee that our wealth or fortune may lasts, that’s why we have to prepare for it and save some funds before we lost them all. And saving is a good start so we can actually prepare ourselves for those unforeseen circumstances that might suddenly arise, or just save to have a brighter future for our kids. However, if we can also learn to invest aside from just saving, i believe it’s the best means to grow our money and build financial independence in the future. Saving alone won’t guarantee it, but investing will certainly do.
Savings should be regarded mainly as an opportunity for a fresh start in the event of the loss of the source of income. Any amount can be spent quickly if you want, so you should make it a rule to keep a certain percentage of savings as an emergency reserve. It should not be spent under almost any circumstances
We all want to save, but the problem is that we can't because our salaries are only enough to cover our basic needs; if we save, our budget will be insufficient. No matter how much we think of saving, even a small amount, at the end of the week or month, they still need to spend it because they needed it, like to buy food or ETc. The only solution to this is to have extra income so that we can save.
We cannot guarantee that our wealth or fortune may lasts, that’s why we have to prepare for it and save some funds before we lost them all. And saving is a good start so we can actually prepare ourselves for those unforeseen circumstances that might suddenly arise, or just save to have a brighter future for our kids. However, if we can also learn to invest aside from just saving, i believe it’s the best means to grow our money and build financial independence in the future. Saving alone won’t guarantee it, but investing will certainly do.
Savings should be regarded mainly as an opportunity for a fresh start in the event of the loss of the source of income. Any amount can be spent quickly if you want, so you should make it a rule to keep a certain percentage of savings as an emergency reserve. It should not be spent under almost any circumstances
We cannot guarantee that our wealth or fortune may lasts, that’s why we have to prepare for it and save some funds before we lost them all. And saving is a good start so we can actually prepare ourselves for those unforeseen circumstances that might suddenly arise, or just save to have a brighter future for our kids. However, if we can also learn to invest aside from just saving, i believe it’s the best means to grow our money and build financial independence in the future. Saving alone won’t guarantee it, but investing will certainly do.
Savings should be regarded mainly as an opportunity for a fresh start in the event of the loss of the source of income. Any amount can be spent quickly if you want, so you should make it a rule to keep a certain percentage of savings as an emergency reserve. It should not be spent under almost any circumstances
We cannot guarantee that our wealth or fortune may lasts, that’s why we have to prepare for it and save some funds before we lost them all. And saving is a good start so we can actually prepare ourselves for those unforeseen circumstances that might suddenly arise, or just save to have a brighter future for our kids. However, if we can also learn to invest aside from just saving, i believe it’s the best means to grow our money and build financial independence in the future. Saving alone won’t guarantee it, but investing will certainly do.
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