Quote from: Jawhead999 on October 22, 2024, 03:49:48 PM

Quote from: bangjoe on October 21, 2024, 12:44:58 PM

Talking about inflation which is very big if it is calculated annually, but are you going to maintain the same income in a matter of years? are you not investing and so on to sustain your life against inflation? if not then you have to do it, because if I have to talk about inflation by fiat, every year it will definitely decrease the exchange rate, so we compensate for it by investing or getting more income so that life can be maintained in the long run.

If you didn't earn much, you won't able to invest much.

Yeah you might make profit from investing for few years, but we don't know what happen in the future and your investment might not enough to cover your life.

Most people do invest, most people do find other gigs to earn extra money. But, most of them choose not a good investment e.g. not surpass inflation rate or they choose gigs that can't be leverage e.g. food delivery instead of singer, actor, programmer etc.

Whether it's a lot or not is subjective and how to invest has a value that we can't calculate for each person.
Motivated from the book Phiyscholgy of Money by Morgan Housel, the fact is that for an ordinary worker can invest enough to get a lot of value when in his old age, yes even though it does take longer, but it is like more certainty in building wealth and certainly safe, how to treat money will affect how to make decisions in using money for his needs, some people reduce their expenses and do not spend their money on things outside of primary needs so that they can accumulate more.

Choosing where to invest is very important to save value, not a few do fail, such as the amount of the increase in the S&P500 and gold that can withstand the percentage of inflation, let alone bitcoin which is certainly more profitable, but we must be aware of the habits of people investing and why they fail is to choose something like gambling, they don't know what they are buying and think within a month or two can have an increase in price, of course as an investor is a silly thought.