Post
Topic
Board Economics
Re: Why we should prioritize investment over saving
by
shinratensei_
on 18/02/2024, 23:59:07 UTC
I agree with this. Investment will definitely bring us more money since we can earn profit from it compared to saving where we just keep our money in banks and won't bring us profit. But both investing and saving are important. Since like what you've said, when there's an emergency it would be difficult for us to use our investment especially if it's doing well. Also on the contrary, if your investment didn't do well, we wouldn't be able to get something for emergency purposes. So aside from focusing on investments, we should also have our savings on the side cause we don't know what will happen tomorrow. Investment will help us earn money and saving will make it easy for us to find money whenever we need it.
in emergency situation you should use insurance to cover, i think people with mindset of keeping things safe always have insurance, but i guess the situation differ from each country to another but general rule of thumb having insurance always helps as long as its not that kind of scammy insurance but a real thing so that we don't need to think about saving up for emergency because frankly speaking the cost of medical treatment are massive.
thats why we can be all in to investment and still can face any emergency situation if it happened to emerge.
i would say, before investing, try to think about what we all need for a living then proceed to invest because thats also essential to not disrupt the investment process.