Some savings are necessary in life as these savings will be some recourse in your old age. But of course, investment should be given priority over savings. According to me, investment should be prioritized for four reasons.
For the older ones, savings are a must because they can't take any longer risk unless they've got a huge savings that they can attain to lose money by taking risks with investments. It's best for the younger ones to invest at an early stage because they can attain to make mistakes and they can recover eventually, that's why the old ones are good to have with what's left on them if they ever have saved and invested at their young age. And as they grow old, it's best to them to just enjoy the profits they've made to enjoy life.
Yes that's right. Many parents prefer saving rather than investing, but another reason why people prefer saving rather than investing is because they have no knowledge about investing or have minimal understanding about the world of investment. Even if they know, their level of knowledge is limited. Even if they understand investment, their level of knowledge is only limited to gold and property investment assets.
As a result, this minimal knowledge will cause concerns for them in choosing investments. This level of concern is increasing along with the rise of investment under the guise of fraud, so that many people choose to save for the security of their funds. So I think many people choose to save independently or invest in banks because of a lack of education about investment, especially bitcoin investment. I am sure that if they knew the benefits they could get from investing for their old age, they would definitely choose to invest.