The world's logic favours income makers, not the savers

[CryptopreneurBrainboss]

Moral of the story: don't save money for more than one month. As soon as you accumulated some amount of fiat, put it into an investment and make it generate passive income for you, although you should avoid banking investments, since they usually pay below the inflation. Go for Bitcoin and assets when there isn't enough money to invest in something bigger. There is no assurance you will defeat the evil rigged system which smash common citizens, but at least you will be trying to overcome it...

Fiats savers are losers, saving was ideal in the ancient days when their currency was backed by gold but after the introduction of the fiats system that money can be printed without it being backed by anything, saving became worthless because while you're saving, inflation is making all your efforts become a waste. If you want to save, save in an assets. Assets are anything that brings money so anything that can bring money to you can be used as a saving ground. Save in Bitcoin and not fiats.

When you're saving in an assets, you're also investing and the worth of your money gets retained through appreciation in that asstes that you're saving in. Instead of saving fiats, save that money in landed properties that can generate cashflow or capital gains. Get yourself financially educated and you'll know the importance of investing instead of saving. The dollars will keep losing its value provided the government keeps printing more into circulation and you best believe, they won't stop.

You should also realise that saving doesn't increase your wealth but investing does. When saving you're putting your money to rest but when investing you're making your money active to make more money for you.

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[arimamib]

Moral of the story: don't save money for more than one month. As soon as you accumulated some amount of fiat, put it into an investment and make it generate passive income for you, although you should avoid banking investments, since they usually pay below the inflation. Go for Bitcoin and assets when there isn't enough money to invest in something bigger. There is no assurance you will defeat the evil rigged system which smash common citizens, but at least you will be trying to overcome it...

Saving money hasn't been a good idea for a quite a while now. Since we are facing those inflation rates that are much higher than our savings rates, we are losing real value of our money every year. To offset the inflation rate the only real alternative is to invest that money and go for higher returns. Also saving money in a bank account only gives our money to the bank which than will make much higher returns with our money. Why should be watching our the banks get rich with our money in 2024? Investing is so much easier now than it was 10 years ago. We can quickly build a portfolio with stock ETFs, some corporate bonds, crypto currencies and even some ETCs. This will be well diversified and lead to much higher returns than any savings account. If you now use any coupons and dividend payments to reinvest, your portfolio will grow even faster.

The shift towards investment as a strategy to potentially outpace inflation and achieve higher returns makes sense in such an economic landscape. Many people are exploring investment opportunities to actively grow their wealth rather than relying solely on traditional savings accounts.

The advancements in technology and the accessibility of investment options make it easier to invest our spare money. With various platforms and tools available, individuals can explore different investment avenues, making it more convenient for people to take control of their financial future. People need to stay informed about investment options, assess their risk tolerance, and make informed decisions to maximize their financial growth, especially in the context of changing economic conditions.

[iv4n]

Moral of the story: don't save money for more than one month. As soon as you accumulated some amount of fiat, put it into an investment and make it generate passive income for you, although you should avoid banking investments, since they usually pay below the inflation. Go for Bitcoin and assets when there isn't enough money to invest in something bigger. There is no assurance you will defeat the evil rigged system which smash common citizens, but at least you will be trying to overcome it...

I agree with your conclusion, saving in any fiat is wrong, in the long run it will lose value. But luckly, investing was never easier... I guess we can thank the internet for that, everything is available and easy accessible. It's hard to beat the system and make a break trough, but I think that crypto is/can be a game changer for many of us. Unlike some other investments it doesn't require a middleman, we can do everything ourselves.

I started learning about these things late, but financial education is very important. People should start learning about this from the early ages.

[franky1]

I agree with your conclusion, saving in any fiat is wrong, in the long run it will lose value. But luckly, investing was never easier... I guess we can thank the internet for that, everything is available and easy accessible. It's hard to beat the system and make a break trough, but I think that crypto is/can be a game changer for many of us. Unlike some other investments it doesn't require a middleman, we can do everything ourselves.

I started learning about these things late, but financial education is very important. People should start learning about this from the early ages.

dont think of savings as wealth creating.
think of savings as a small pot of like 1-3months of resources to save you(rescue you) when in dire need.
(saving=rescue fund.. rather than "saving"=wealth accumulate)

investing is the wealth accumulation to hedge against inflation

[yohananaomi]

That's right and having big money also comes with big risks when investing. So. proper management is highly demanded here. So it's not wrong if having savings does contribute to financial stability in the future. Indeed, if someone has strong finances they gain public recognition because at first glance they appear capable, but the contribution of individuals who are not yet involved in the future should not be ignored.

Anything called investment is full of risk, and you have to know that first, before you really want to invest in anything, apart from, of course, just wanting to save in the bank, it will be safe, there is no risk, and it will only have an impact on financial stability in the future.The greater the funds invested in the investment, the greater the risk of loss, but the opportunity will also be greater to be able to do anything, as well as the ability to gain large profits as well.Logically, you are right that someone who is established and has strong finances will get recognition from society, but if someone who has money does not contribute to society, then he will not get that recognition either.In the end, balance is needed to achieve the best.

[Lamkuthang]

That's right and having big money also comes with big risks when investing. So. proper management is highly demanded here. So it's not wrong if having savings does contribute to financial stability in the future. Indeed, if someone has strong finances they gain public recognition because at first glance they appear capable, but the contribution of individuals who are not yet involved in the future should not be ignored.

Anything called investment is full of risk, and you have to know that first, before you really want to invest in anything, apart from, of course, just wanting to save in the bank, it will be safe, there is no risk, and it will only have an impact on financial stability in the future.The greater the funds invested in the investment, the greater the risk of loss, but the opportunity will also be greater to be able to do anything, as well as the ability to gain large profits as well.Logically, you are right that someone who is established and has strong finances will get recognition from society, but if someone who has money does not contribute to society, then he will not get that recognition either.In the end, balance is needed to achieve the best.

I agree with what you both said, but what we have to ensure is how to position ourselves to be able to achieve both. Living in society is a must, but having money also means that at least we are not too marginalized in our actions and giving opinions at any time.

[demonica]

For others, saving money is the first step. Not everyone who's saving money only have goals of spending it on their wants or material things. There are people who save money for the purpose of making investments or starting their business, and it's actually a great one since a business or an investment can be their source of income.

In conclusion, it's true that you wouldn't achieve much if you're only saving. You need to find other ways to generate income in order for you have bigger progress. When you're only saving, it will take you a lot of time to reach a certain goal of an amount you want to achieve. And probably by the time you'd reach that goal, that value doesn't have the same worth as before.

[davis196]

Moral of the story: don't save money for more than one month. As soon as you accumulated some amount of fiat, put it into an investment and make it generate passive income for you, although you should avoid banking investments, since they usually pay below the inflation. Go for Bitcoin and assets when there isn't enough money to invest in something bigger. There is no assurance you will defeat the evil rigged system which smash common citizens, but at least you will be trying to overcome it...

If there was a zero risk investment opportunity offering guaranteed returns above the inflation rate, everyone around the world would put his hard earned money in such investment opportunity and life would be perfect. Unfortunately, there's no such opportunity. There are always high risk-high reward and low risk-low reward opportunities. The second option sometimes provides rewards below the inflation levels, which makes conservative investing a little bit pointless.
I agree that the low/negative interest rates offered by the banks and the high levels of inflation are in favor of the borrowers, not the savers.
There's nothing we can do about this and I don't think that Bitcoin/crypto are the financial panacea to this rigged system.

[Renampun]

...

Moral of the story: don't save money for more than one month. As soon as you accumulated some amount of fiat, put it into an investment and make it generate passive income for you, although you should avoid banking investments, since they usually pay below the inflation. Go for Bitcoin and assets when there isn't enough money to invest in something bigger. There is no assurance you will defeat the evil rigged system which smash common citizens, but at least you will be trying to overcome it...

The moral message you convey really gives me new knowledge, especially in the principles of saving, everything you say on this topic is correct, not wrong, because in reality saving for decades has no use at all for long-term life. However, if you invest the money you have instead of saving, then the opportunity to be financially free in the future is quite large, everyone must be aware of investing, don't let yourself be busy saving but the value of the money you have continues to decrease because of inflation.

[wxa7115]

Moral of the story: don't save money for more than one month. As soon as you accumulated some amount of fiat, put it into an investment and make it generate passive income for you, although you should avoid banking investments, since they usually pay below the inflation. Go for Bitcoin and assets when there isn't enough money to invest in something bigger. There is no assurance you will defeat the evil rigged system which smash common citizens, but at least you will be trying to overcome it...

If there was a zero risk investment opportunity offering guaranteed returns above the inflation rate, everyone around the world would put his hard earned money in such investment opportunity and life would be perfect. Unfortunately, there's no such opportunity. There are always high risk-high reward and low risk-low reward opportunities. The second option sometimes provides rewards below the inflation levels, which makes conservative investing a little bit pointless.
I agree that the low/negative interest rates offered by the banks and the high levels of inflation are in favor of the borrowers, not the savers.
There's nothing we can do about this and I don't think that Bitcoin/crypto are the financial panacea to this rigged system.

And even if by some miracle that kind of investment existed, in which you took no risk and you still made a lot of money, we can be sure such an opportunity will not last for long as everyone tried to invest in that asset.

Also even if this market and bitcoin in specific is thought to be this kind of investment, we know this is not true, since the early adopters took a risk by investing their time and their money in an asset that at the time was unproven and highly experimental, now in hindsight is easy to see that bitcoin offered a massive opportunity back then, but such an opportunity was not easy to see and only those that truly believed in bitcoin could truly understand its true potential.

[Natsuu]

I believe in this too. Saving money is good but it might not get you far with taxes and other expenses. Try putting your money in things like Bitcoin or other investments. They could give you some extra cash without the hassle of traditional savings and maybe even beat inflation. Just be smart about it and diversify to fit your goals and comfort level

[ivankoh]

I believe this to be true. To create income you must have money, and in any situation, saving is a necessary condition to create income according to different ideas. Only when you save money, but can't or don't dare to use it to generate income. There are some people I know who may be stubborn and conservative to overcome that but in my opinion it will not be recommended for their future life.

[Volimack]

As far as I understand it is good to save money it works as a future saver and income is also needed if there is no income how to save. Every person thinks about keeping money through earning their own money. If the income system is low he will never be able to go towards savings. And thinking about the future will become difficult. In this world savings seem to be the only hope for the future.

[Peanutswar]

People usually have the illusion that by saving money they are making a great deal, while in fact, the truth is that to save is nearly to useless when thinking on achieving financial progress in life. An independent middle class citizen, without the burden of a family on his back, can save enough money to buy the car of his dreams or the property he always desired living on, since he is commited to these goals, making a lot of effort and cuts on his expenses in order to accumulate enough money for that.
~~

It is too hard to save money if you have a family you need to help it is part of your duty or else it depends on you that you can now an independent person and they can handle their own, but we cannot deny most of us are still helping our family for their needs and reason why we cant save enough money to ourself and for our future. Other than this is you really grind in life not only getting one job for your needs instead do an extra so you can save up more.

~~Moral of the story: don't save money for more than one month. As soon as you accumulated some amount of fiat, put it into an investment and make it generate passive income for you, although you should avoid banking investments, since they usually pay below the inflation. Go for Bitcoin and assets when there isn't enough money to invest in something bigger. There is no assurance you will defeat the evil rigged system which smash common citizens, but at least you will be trying to overcome it...

Dont save in just one month, do at least 6 months any thing can happen you must prepare more than that so with this large number of days could be get more time to find another source of income really reason why ideal to have at least have an investment to have a good cashflow even though you lose one source of income.

[muncuss]

I believe in this too. Saving money is good but it might not get you far with taxes and other expenses. Try putting your money in things like Bitcoin or other investments. They could give you some extra cash without the hassle of traditional savings and maybe even beat inflation. Just be smart about it and diversify to fit your goals and comfort level

What better is if it produce cashflow, like create mining rig instead of buying bitcoin. Instead of holding and get nothing, it will produce more asset, literally the definition of putting asset to work.
Yes bitcoin price may rise but what if it isn't?

[glendall]

To have to pay an annual tax for something you own and paid with your own money to possess is ridiculous...

It is true but we also knew the fact that taxes helps our country's progress and development unfortunately for some corrupt countries they made it a cash cow.

It's true, sometimes I personally feel very sick of paying taxes, but there is no progress obtained from taxpayers, who knows where the tax funds are allocated, good government and tax-abiding citizens in the country there will be no serious poverty

[slapper]

Moral of the story: don't save money for more than one month. As soon as you accumulated some amount of fiat, put it into an investment and make it generate passive income for you, although you should avoid banking investments, since they usually pay below the inflation. Go for Bitcoin and assets when there isn't enough money to invest in something bigger. There is no assurance you will defeat the evil rigged system which smash common citizens, but at least you will be trying to overcome it...

Fiats savers are losers, saving was ideal in the ancient days when their currency was backed by gold but after the introduction of the fiats system that money can be printed without it being backed by anything, saving became worthless because while you're saving, inflation is making all your efforts become a waste. If you want to save, save in an assets. Assets are anything that brings money so anything that can bring money to you can be used as a saving ground. Save in Bitcoin and not fiats.

When you're saving in an assets, you're also investing and the worth of your money gets retained through appreciation in that asstes that you're saving in. Instead of saving fiats, save that money in landed properties that can generate cashflow or capital gains. Get yourself financially educated and you'll know the importance of investing instead of saving. The dollars will keep losing its value provided the government keeps printing more into circulation and you best believe, they won't stop.

You should also realise that saving doesn't increase your wealth but investing does. When saving you're putting your money to rest but when investing you're making your money active to make more money for you.

I agree, but let's look at the canvas more widely. Global economies depend on fluid, fluctuating fiat currency, despite its shortcomings. The switch from gold-backed to fiat was a paradigm change that increased economic freedom but decreased stability

Bitcoin is both an asset and a warning about fiat's fragility. It's a shelter from inflation. It's important to disprove the idea that Bitcoin is the cure-all. Financial wisdom is based on diversification. Bitcoin is one asset in a portfolio, but it shines

Saving vs. investing is about perspective. Save in money and anchor in rough waters; invest in Bitcoin and appreciable assets to achieve financial sovereignty. Still, a smart pilot knows that the ocean is unpredictable and steers with a close eye on risk management, diversification, and the long term

[Iroh]

Why would a person judiciously save money to buy a luxury thing he can't afford to maintain? If a person has a dream car or house or gadget and your income can afford it, shouldn't the goal be for the person to work harder and earn more income?

Apparently, people sometimes feel the need to go way beyond their means to give others the impression of living a somewhat wealthy life. There’s no immediate plan for the future as such individuals only think of now. Also, such individuals, also being quite materialistic, would prefer to want to buy luxury items even if it would make a good dent in their finances. To such people, having luxury items may make them feel more acceptable in the society, hence the constant struggle to acquire them despite having an average to low income.

Ordinarily, the next move would be increase the amount earned so as to be able to afford the lifestyle you want. But such people would easily go into debt giving a false impression than to work harder and earn more.

[Lantind]

Why would a person judiciously save money to buy a luxury thing he can't afford to maintain? If a person has a dream car or house or gadget and your income can afford it, shouldn't the goal be for the person to work harder and earn more income?

Apparently, people sometimes feel the need to go way beyond their means to give others the impression of living a somewhat wealthy life. There’s no immediate plan for the future as such individuals only think of now. Also, such individuals, also being quite materialistic, would prefer to want to buy luxury items even if it would make a good dent in their finances. To such people, having luxury items may make them feel more acceptable in the society, hence the constant struggle to acquire them despite having an average to low income.

Ordinarily, the next move would be increase the amount earned so as to be able to afford the lifestyle you want. But such people would easily go into debt giving a false impression than to work harder and earn more.

If the life we live is only to impress other people that we have been able to live a life that is rich enough then we will not have time to think about the future which cannot be known with certainty then this will be a problem for themselves, because every item Collected luxury certainly requires very high costs and the price will disappear if the item doesn't look good anymore and the price won't be the same as what they bought and if this continues, of course we will have financial problems at some point.

Increasing the amount of income we have will indeed be better than using the income we have on items that we don't really need, because every item that we don't need is of course detrimental to us and also we won't be able to save and even have to go into debt if we have unable to fulfill their wishes

[sekalitas]

People usually have the illusion that by saving money they are making a great deal, while in fact, the truth is that to save is nearly to useless when thinking on achieving financial progress in life. An independent middle class citizen, without the burden of a family on his back, can save enough money to buy the car of his dreams or the property he always desired living on, since he is commited to these goals, making a lot of effort and cuts on his expenses in order to accumulate enough money for that.

It's not easy, but not impossible, anyway. However, even though the system allows him to achieve those purchases, it doesn't allow him to maintain the patrimony and vehicle, because to possess such goods, someone has to pay yearly taxes to the government. The more expensive your car is, the higher the tax you are going to pay. The more expensive your house is and the best localized it is, the higher will be the tax to be paid.

To have to pay an annual tax for something you own and paid with your own money to possess is ridiculous...

This evil rigged system never allows a middle class hard working person to reach too further on improving his life standards. If he doesn't have a large income, he won't reach anywhere. To be a disciplined saver along decades of his life isn't enough.

Moral of the story: don't save money for more than one month. As soon as you accumulated some amount of fiat, put it into an investment and make it generate passive income for you, although you should avoid banking investments, since they usually pay below the inflation. Go for Bitcoin and assets when there isn't enough money to invest in something bigger. There is no assurance you will defeat the evil rigged system which smash common citizens, but at least you will be trying to overcome it...

I just want to add a little bit about it.
Before diving into any investments, including crypto, it's crucial to prioritize an emergency fund. Aim for 3-6 months of living expenses to cover unexpected events like layoffs. With this safety net in place, if you have an average income, consider investing primarily in your skills and knowledge through courses or training. This can empower you to boost your earning potential in the long run. Allocate a smaller portion to other investments, like crypto, only after carefully assessing your risk tolerance and understanding the market's volatility.