Topic: Why we should prioritize investment over saving - page 14. (Read 2257 times)

The money in the bank is of no use to you in terms of profit earning and asset building. Banks are getting profits on your money through lending. Although saving is also important, you should not put all your earnings in the bank. I am not saying that you should not save for your rainy days. Investment is important to build assets and fortune. Investment in Gold, Silver, BTC, Property, and mobile assets can help you fight the upcoming recessions and devaluation of the currency. Also, make sure your kids don't go through the same pain and suffering as you once went through. Be brave and take the risk for your future.

People know about that, but unfortunately they're invest their money without any knowledge that lead them to get scammed or lost.

Land or real estate, there are many mafias and unnecessary cost that make you need to spend more money.

Gold, there's a chance you buy a fake gold and hard to hide it.

In Bitcoin, as long as you buy the real Bitcoin and hold it on your non custodial wallet, you're safe. People scared with Bitcoin because it's intangible asset, they always want to see their asset in physical to know if they really own it.

if we understand saving and what it is supposed to be used for then we should not be bothered about having it and it is majorly for emergency reasons so that you don't have to think of borrowing money when there are needs you can always take out of your savings to solve whatever problem you might be in. and I would not advise saving a large amount of money because of inflation true. and it is better to invest that little amount of money in savings than just. and the idea of putting the money in Bitcoin is good. inflation won't have any effect. and whenever you need money for something you do not have to worry about anything just to sell but I would prefer if you have Fiat and then Bitcoin as your investment, and that additional value is what makes everything different. but just leaving your funds dormant just like that will not favor anyone at all. so let us be smart while making a choice either to save or invest.

You are correct. But you should know the differences between fiat and money. Fiat is the money that the government of a nation made a legal tender. The government control the price and it is always depreciating is the control. Bitcoin also is money. Money is anything you can spend that have intrinsic value. Bitcoin has intrinsic value. So if you are investing in bitcoin, it also means you are saving money called bitcoin. But bitcoin is an appreciative asset and not a depreciative assets like fiat.

If you realise the way people were talking about and prioritised savings when I was growing up, I thought that I would join them as it might be the saving grace of people to have that financial freedom. Some would painstakingly save for the year, while others would be finding available investments in the banking industry, and some would be contented with the meagre annual interest that savings accounts are giving them on their deposits. What a lame thought!

Some will be so professional in that angle to be looking for every available high-interest package in the banks so that they can maximize the earnings of their savings, but I do not think that any bank gave any of the over $12% per annually regardless of the amount they have but are using their money to make more money in multiplies. Banks do that by loaning people for higher returns and investing in lands, properties and many more that are earning big for them. This is just no secret, it is just a priority, people prefer by then to have money in the bank, though some are still doing it today but the level has reduced. Exposure and technological advancement are now opening people's eyes to what is the right thing to do believing that if the bank can invest your money elsewhere, you also can. To make matters worse, as of today, if a person is saving his money in my country in the local currency over a period of 15 years, I can assure the person that the value of the money now compared to that time will be about 5-8 times less. This is due to inflation, and it will continue that way since governments are just clueless about this.

But those who bought lands, stocks or properties with them will have more money smiling to the bank for. While against the USD, the money had devalued more than 10 times too, this is so pathetic. Going forward, people should rather look for investments than savings, that is the only way out and one of the secrets of financially free people anywhere in the world.

Savings can be good when is only months but to save for years then i think that is a very bad idea because as said inflation could hit it so hard where your savings won't worth something valuable in the future that is why investment is mostly appreciated and valuable, we can invest in bitcoin also real estate businesses. Must people have no idea about saving money because to me i think there are lots of circumstance that may surround man which might triggered him to touch his savings although sometimes investment within our power can be touched as well but what happened is that when doing investment we should try as much as possible not to have every control of our investments otherwise we could temper with it. You know there is some people who don't always have this patients of holding their investment till maturity but when they have any little issues they would want to pull out their investment to sort out whatever problems they are facing which to me isn't right at all and should be cultured about that to enable investment to get to maturity this could be 5 years to 10 years time.

In a way, I disagree with the idea that investing in Bitcoin or gold and quickly making a profit. While it might work for land since land appreciates over time and not the another way. it's not reliable for Bitcoin due to their volatile nature. There's no guarantee of profit in such a short time, especially with Bitcoin's unpredictable market. gold is a fixed asset since it's considered as a stable store of wealth over time. That means that if you invest 100$ in gold today, your 100$ worth gold would still be what you have in years to come.

Putting or saving money in banks or storage facilities isn't wise either. Banks use deposited funds to make profits through loans, which isn't ideal for savers. Keeping money in bank vaults isn't a good idea because of this. Instead, investing in land or Bitcoin could potentially yield profits for you but it will take longer than a year to make good profits out of them.

Saving not only won't save us from inflation, but our chances of spending the money are greater than investing it, for example in gold or shares, because it takes time for us to convert it to fiat and also the consideration that we haven't made a profit will prevent us from exchanging it to fiat, which is different by saving in the bank whenever we want to use it, we can use it straight away, especially now that the banking system is digital so there are no obstacles for us to use the money as long as we are connected to the internet so in the end we only have a little leftover because we are tempted to use it and inflation will make our finances even more difficult.

Saving our hard earned money have never been a bad idea, but their are certain things we need to consider before thinking of saving, such as inflation.
Inflation is truly the real enemy to every money that is being saved up, because when the time is right like a year time, when it should be used for it purpose, the value wouldn't be as how it actually was when you started saving it, but on the other hand, if we have been investing that money into Bitcoin, land or gold bit by bit, over the course of a year, the value of that your investment would have added additional value compared to our savings that will be eaten up by inflation.
So too me we should think of investing more of our money than saving it, so that  inflation wouldn't eat it up.