Re: Save while young better than wait

Quote from: Issa56 on February 26, 2024, 06:59:04 PM

Quote from: aycogito on February 25, 2024, 06:24:28 AM

I guess investing money for future is a must, at the same time, it should not be done at the cost of totally ruining the present life, it should be a balance, life is so unpredictable so like we need to save for emergencies as well, a planning for old age when we can have good amount of money we can spend on health and other necessities, and we should also spend during the present times to fulfill our needs and wants now as well but surely in a limit. Cheesy

Investing is much more better than saving, saving is also good but if you want a continue thing starting from how you want your financial situation to look like in the future. Having the mindset to invest is something that can save you over time, and saving can only be of help in a very short period of time. The future and the present are not predictable, and that is what makes investment more important than saving, when you have any form of emergencies your investment will have backup so, as for me is a go go for investment than to save. And if the is need for health issues then your investment will have a separate emergency funds for the investment and the investor.

Saving and investing are two things that people must do to strengthen the future economy. However, both of these things are difficult for everyone because they are very dependent on income. However, saving seems to be more suitable for all groups because they can set aside their income even with a very small amount, while investing can only be done by people who already have sufficient financial means. So I really like these two models to strengthen my economic foundation, and investment is the right step to take.