Quote from: Zoomic on Today at 05:51:40 AM

Quote from: Winterfrost on Today at 05:22:51 AM

Quote from: Bravut on March 02, 2024, 10:14:19 PM

Sincerely the concept of savings has made some persons poor,but many won't realize the fact that saving don't make the difference but investing does.
Am not saying saving isn't good, but my point is saving doesn't make one wealthy, the worst advice we recieve is 'save for tomorrow' but only few lay emphasis on the need to 'invest for tomorrow'.
So I would greatly say we invest some of our profits from bitcoin in to other stuff, than just holding it or using it for pleasure. The rare truth is how we believe bitcoin can change the game, so other systems are developing so we shouldn't be blindfolded.
Invest because savings doesn't increase or builds, investing is what gives you the life you want.
Let discuss this guys..
No matter how many bitcoin you hold you can still misuse the money, so we should understand the concept of Richness and Wealth.

the decision to either save or invest depends solely on how much you have. There are amount you will have that can't go well with investing and might even look foolish if you're trying to do so. You can save to invest later and it might be one of the best way to relate saving and investing. If you have a project of $500 you need to execute within one month and your earning per week is around $200. You can't make investment with your extra income in such scenario. What you need do is to save of an amount that could easily accumulate into the desired $500 at the end of the month. If you invest the money I to Bitcoin hoping to sell back at the end of the month, you can't really tell what will happen at the end month knowing that it could possibly happen that Bitcoin is gaining or loosing and because you wouldn't want to gamble with the reality that awaits you at the end of the month, its only best you save up and shun any form of investment that's short termed and wouldn't give you the desired peace of mind you're looking for.

Making investment should come in at the stage you're looking out for a five to ten year interval of time and that's when you are talking about long term investments that's aimed at creating wealth.

Savings can only be an option when you have a short term project you are pursuing. To get benefits from any investment, you must be willing to wait for a very long period of time, usually a year or more. This is to say, savings is short term while investment is for the future. Many people fail financially because they save when they are supposed to invest and get good returns from their investment and invest when they are supposed to just save to accomplish a specific project at that time.

Yeah, that's right. Savings are only for short-term needs like monthly expenses and some emergency funds where we can easily get the money we have saved, but when it comes to savings, don't expect the money you save to grow because if it is in your bank deposited, the earned interest they give is very low. it's not like an investment that has a short or long term called, wherein your money will grow but you can't just get it because mostly with investments, there is time period when you can get your money or what they called "dividends".