Quote from: lienfaye on August 31, 2022, 01:48:11 AM

Quote from: odunybiz on August 29, 2022, 10:20:49 PM

Lastly, investing is highly preferable to savings.

Indeed. Saving is good because it still wise to have money that you can count on especially in times of emergency. However we cant expect for our money to gain interest through saving, in banks they're giving very low interest annually. Thus not worth if you're into increasing your savings.

Therefore investing is better to achieve your financial goals and to secure your retirement, its possible if ever you succeed in your investing venture. Because inflation is inevitable so its better to not be contented that you have savings, the value of it might be less if you already need it, lets say years after. But when we invest, money is working for us to be financially independent. This is an option to deal with inflation.

Investing is a better way to increase financial capacity as well as fight inflation, but saving is also really indispensable because investment is not always guaranteed to bring us profits. Saving won't help us avoid inflation or increase wealth, but it can help us in emergencies.

We should not just focus on investing without saving and conversely we should not put all our money into saving without investing, as long as we know how to balance the two, our lives will be easier and better.