Save while young better than wait

[crwth]

It's always going to be better to be early in anything and there are a lot of actual results from people that started early and can possibly be worth more than just holding on to it. It somehow can apply to the HODL. Timing the market is hard but making trades and making sure that it is a surefire way to profit is better. So investing your money in a calculated risk is a great way to really actualize the growth of your money.

[JariKriting]

It's true that while young, save so that in the future you can live more prosperously. precisely not saving but investing whether in stocks, mutual funds or in crypto. because if you only save, the value of the assets you have will be difficult to grow because bank interest rates are very small in value. and under inflation if you only save, it is almost certain that the value of your assets will decrease due to inflation.

[icalical]

There is one thing I know too well, that it's not my fault I'm from a poor background but it will be my fault if I remain in that background.

Tho this is a very common phrase and it's true most of the time, but don't forget there is also structural poverty, in which people who come from poor background will remind poor not because they aren't trying hard enough but because they doesn't even has a chance to fix their economy. Climbing from a very poor condition to an upper-middle need a consistent effort in multiple generation time, it's not quick except there is enough luck.

[Dr.Osh]

Actually, there are lots of tips about this.  However, sometimes young people are often careless and are more interested in good relationships and a good lifestyle.  this requires quite a lot of expenditure.  If he has a lot of salary when he is young, then that is a good thing, but if not, then he has no plans to be rich in his old age because he wasted his money without investing.  However, encouraging young people to save, invest or increase their assets is a very good thing, but it also requires proper education.  So in this case, education is something that is really needed to encourage young people to invest at a young age

[pinggoki]

Thank goodness that this has been instilled to me when I was still young by a lot of people all throughout my childhood, they really know what they're talking about because with all the money that I've saved through the years, I'm happy that I took the advice to the heart, I can eat wherever I want and go to places that I want without any worry about how much money I'd be spending. The only thing that I'd like to add to all of this is that we should also consider investing instead of just saving, that way the money that we set aside grows instead of just being on a standstill in terms of value plus you're defeating inflation when you're investing.

[justdimin]

Of course it would be a very bad thing if we chose to be old and poor, because if we are old and poor it will be very difficult because we have to keep working to be able to meet the needs we need.
Using the income we have on things we don't really need is certainly the wrong choice, because we can refrain from enjoying it and use that income to invest and we will be able to enjoy the results when we are old, if we have sufficient income and choose to I don't think there's anything wrong with living a good life without thinking about the future, but if we can invest early then we will be able to enjoy old age in a relaxed manner.
Investing earlier will certainly get different results from investing later with the same amount, so it would be very good if we have sufficient income so we can invest earlier and will certainly enjoy satisfactory results later.

Most nations do have houses that the government takes care of, where old people go and they are taken care of. I am not sure what happens to old people who have nobody and no money and they can't go anywhere, that must be very interesting situation, like do they just... pass away on the streets? Probably, that could very well be the problem as well.

But in my nation, most elderly have a place to go, government has old peoples houses, it is basically like a hospital/hotel, where old people just send their time, and it is not great, but as a nation we decided to just take care of the people who can't take care of themselves. Same mindset as orphanage, you take care of the kids as a nation when there is nobody else that takes care of them.

[Maslate]

Look, you can be old and rich or young an poor, but being old and poor is bad shit.
~snip~

I would rather be rich in my youth, or rather in my best years, even at the cost of having much less or being poor in my old age. When you're young, you have far more needs and things you need to accomplish, and for that you need a lot of money - and when you get older, your needs decrease more and more and the only thing that matters is your health.

Therefore, I would emphasize that we should be more careful in our youth about the way we live, because alcohol, cigarettes and fast food will only come to pay in old age. I have a saying that says "old age will ask you where your youth was" and there is some truth in that.

Being rich at your early age does only mean one thing, you need to save and invest at a very young age, but not compromising your youth’s needs and wants as well. And because of that, your family is responsible to teach you how to save and spend money by focusing only on what’s necessary and ignore those that are not actually helping you at all.

Being rich do not happen in an instant, so if you wish to get rich at your 30’s or 40’s, you need to start the process 10 years earlier. And that’s one thing that I regret. Although I don’t have enough means to save, but I believe regardless of your monthly income, it’s still a must to save even just a small amount.

[Russlenat]

It's true that while young, save so that in the future you can live more prosperously. precisely not saving but investing whether in stocks, mutual funds or in crypto. because if you only save, the value of the assets you have will be difficult to grow because bank interest rates are very small in value. and under inflation if you only save, it is almost certain that the value of your assets will decrease due to inflation.

Saving is just your first step, but eventually when your funds are big enough to make an investment, then focus on your investment. You cannot grow your money if you just let it sleep in your bank account, but if you decide to invest it in bitcoin or in any other physical investment like real estate, expect that you will see positive growth with your capital.

However, do not put all your hard-earned money in a single basket but learn to diversify. That way, when one investment fails, at least you still have higher chances to profit from your other investments. But always leave sufficient funds too for your fiat needs, and leave some for your emergency funds.

[Renampun]

Look, you can be old and rich or young an poor, but being old and poor is bad shit.

A surefire way of doing the wrong kind of things is to spend your money early or try to live a good life quickly without thinking about the future. Or if you have an ok job or income to think that is enough, even if you cannot save.

All young people, understand that time an money are linked. It is not the same to invest early than late, it is not the same  to invest more early that try to invest more later. 100 is worth 100 today, but 800 in 20 years if you play it safe but well. Make no mistake, you will need to start creating your wealth.

I once argued with a young person who said that youth should not take life too seriously, just enjoy it, give yourself self-reward with spree, when he said that I could only mutter to myself "he will definitely fall very poor when he get old".
what you say is all true, that the discipline towards money that we do from a young age will be connected until we are old, so don't let the extravagance we make in youth have a bad impact in old age, there are many examples of people who are old and poor  but when they are young they have a lot of money and potential.

[Y3shot]

Good write up. It is very important to make the time now we are young a productive one because this is the time we can make good investment for ourselves that can sustain us when we are old. If we don't make better plans for ourselves in this young age that we are energetic it will really be a problem when one is old. The old age time is a time to have good rest and to manage the little investment. Planning this young age should be the goal.

[yudi09]

-snip-

It's impossible for people to disagree about this because living in the future is about choices made early on. If you want a sufficient future, saving from now on is an option. How to save can be interpreted differently, one of which is by investing.
If you want a bleak future with a bad economy, the choice is to continue your youth with extravagant activities without feeling the need to save and not having to work hard like other people who want an easy and self-sufficient future.

[bluebit25]

Look, you can be old and rich or young an poor, but being old and poor is bad shit.

A surefire way of doing the wrong kind of things is to spend your money early or try to live a good life quickly without thinking about the future. Or if you have an ok job or income to think that is enough, even if you cannot save.

All young people, understand that time an money are linked. It is not the same to invest early than late, it is not the same  to invest more early that try to invest more later. 100 is worth 100 today, but 800 in 20 years if you play it safe but well. Make no mistake, you will need to start creating your wealth.

It's a little different, but I'm not a young person, because I went through the same thing, so I realized that achieving something in life really has no specific rules, even saving up . What people look for in life in my opinion is happiness, and happiness also has its own standards from everyone's point of view, and that can include money, fame, love,... but in the end all of those things really bring satisfaction, and I know balance in life is the key point. Like a beggar would not really be able to understand the meaning of a Rolex watch bringing happiness, simply a full meal. So in each different life context we need to have balance to adapt to it. I think accumulation does not stop at money, as I mentioned about life balance, knowledge, health,... are also things that come with bringing a life in which we can be independent.

[DeathAngel]

Saving whilst young is a great idea as it plants seeds to harvest when you are older. Do not save & store your wealth in fiat currency though because inflation will undo all your hard work. You need to invest in real estate, Bitcoin, stocks.

[lovesmayfamilis]

I would rather be rich in my youth, or rather in my best years, even at the cost of having much less or being poor in my old age. When you're young, you have far more needs and things you need to accomplish, and for that you need a lot of money - and when you get older, your needs decrease more and more and the only thing that matters is your health.

Therefore, I would emphasize that we should be more careful in our youth about the way we live, because alcohol, cigarettes and fast food will only come to pay in old age. I have a saying that says "old age will ask you where your youth was" and there is some truth in that.

I completely agree. They say that “youth wants but cannot, but old age can but no longer wants.” This expression can be applied to many actions. While we are young, our desires are enormous, and we are very impulsive; we cannot slow down our desires, wasting our health and having a hallucination of immortality.
There are many regrets about not having enough financial knowledge, let alone opportunities, when you are young. Therefore, as parents, having gained some experience, we can better convey to our children how important it is to take care of their health so that, in old age, we do not spend everything we earn on treatment.

[angrybirdy]

After learning inflation can devalue your cash, I wouldn't really recommend saving in this untimely situation where the inflation keeps rising. Today, what a person should do is become a prepper and spend his money on what he can afford for now because he may not afford it later. And if a person can afford to invest instead, then it's a better choice than saving.

exactly! Nowadays, it is not advisable to keep our money in the bank. it really depends on a person's situation but if you have extra money, it would be better if you invest it in things that can grow your money, just like investing in crypto, but when it comes to investment, it's better to know everything about it before you start investing because it's not a joke if you're going to take out money and then you don't know what you need to do.

[batang_bitcoin]

It's true that 100 is worth today but what will be its worth after several years? The purchasing power of it whether it's in the form of dollars or any fiat currencies out there, one thing is significant and the same is that it will be lessened due to inflation. As for saving while young, it's also best to teach them to invest while they're young. Anything that's going to help them be wise on how they handle money is a win for most of the young ones.

[uchegod-21]

Look, you can be old and rich or young an poor, but being old and poor is bad shit.

A surefire way of doing the wrong kind of things is to spend your money early or try to live a good life quickly without thinking about the future. Or if you have an ok job or income to think that is enough, even if you cannot save.

All young people, understand that time an money are linked. It is not the same to invest early than late, it is not the same  to invest more early that try to invest more later. 100 is worth 100 today, but 800 in 20 years if you play it safe but well. Make no mistake, you will need to start creating your wealth.

I have always seen people talk down on saving as against investment. That is why I always appreciate any post that encourage or teaches saving. To save is a virtue and should not be discarded on the platter of ignorance. I am not speaking this against investment, rather against lavishing. It is very much important to save for the rainy days. Personally, I've also been a victim and in my own case, my savings saved me. I had been an offline worker, but at a time I decided to migrate and become a freelancer. But because of my poor knowledge of how they internet works, I was scammed. I trusted random online people like real life people and they dealt with me seriously. At a point I lost all I had but then my savings came for me and rescued me. I had decided that I would never spend from that fund no matter what happened either for investment of any other purpose. So, when I literally lost all I bounced back from that saving. From henceforth I do not joke with saving. No matter the investment of project that I am embarking, I would always serve a portion of my money no matter how small.

The only place we should come in is the means of saving. Do not save in fiat because its value reduces. Bitcoin is your friend.

[nara1892]

After learning inflation can devalue your cash, I wouldn't really recommend saving in this untimely situation where the inflation keeps rising. Today, what a person should do is become a prepper and spend his money on what he can afford for now because he may not afford it later. And if a person can afford to invest instead, then it's a better choice than saving.

exactly! Nowadays, it is not advisable to keep our money in the bank. it really depends on a person's situation but if you have extra money, it would be better if you invest it in things that can grow your money, just like investing in crypto, but when it comes to investment, it's better to know everything about it before you start investing because it's not a joke if you're going to take out money and then you don't know what you need to do.

It's true, a situation like this really depends on how each individual's finances are, if indeed they have good enough finances then of course it is highly recommended for them to allocate some of the money they have to other things, as you said, one of which is investing in some assets that they believe in, essentially somewhere that has the potential to grow the amount of money, but perhaps the problem is that not every individual has knowledge about the world of investment and perhaps this is the biggest problem for them and is also the reason why they prefer to save the money in the bank.

This means that of course insight and understanding are the problem, in terms of investment there is a lot that is needed and that must be prepared, this can indeed be a good alternative and recently the majority of people who have an understanding of the world of investment prefer to save your money there, but on the other hand it is not as easy as turning the palm of your hand because of course investment has the potential to grow your money but also has the possibility of risks that can lose your money, therefore consideration is really needed before you finally allocate your money, all of this come back to yourself because it depends on your readiness too.

[Gaza13]

Saving in young age is important for thinking about a good life in old age, but a person needs more things in young age than in old age which needs money, more money is needed in young age. As a result, people overspend when they are young, and struggle when they are old. So as per your advice it is important to control the expenses and also look at our savings so that we can live a secure life in the future. We can predict that the coming days will be more difficult. Because the way inflation is going up now, it makes me think more and more that the government is devaluing the value of our money so we really have to keep in mind when saving money that we will lose the value of our money several times before we reach old age.

Yes, someone in their youth certainly has desires for what they want, namely a cellphone or a motorbike. I agree with you. We have to be good at managing our expenses or live frugally and restrain ourselves for a moment in our youth from being extravagant. Usually the role of parents from an early age is very important in directing their children not to waste their money on buying things that are not useful, it is better to save their money. Indeed, the concept of saving has been taught from generation to generation, in families or schools. This is the role of parents or fathers, if they know the concept of money, teach children from an early age to invest how money works for us in the next 20 years, we will enjoy it in our old age.

[xSkylarx]

Look, you can be old and rich or young an poor, but being old and poor is bad shit.

A surefire way of doing the wrong kind of things is to spend your money early or try to live a good life quickly without thinking about the future. Or if you have an ok job or income to think that is enough, even if you cannot save.

All young people, understand that time an money are linked. It is not the same to invest early than late, it is not the same  to invest more early that try to invest more later. 100 is worth 100 today, but 800 in 20 years if you play it safe but well. Make no mistake, you will need to start creating your wealth.

It is easy to say to save, but it is difficult in the current situation right now. I get your point that saving instead of spending your money on partying and useless stuff is good, but right now not all have the opportunity to save because of the low salary, and even not all of us have a chance to have a business. So if we do have a chance to save or spare money, then that is the time to save it instead of spending it.