Save while young better than wait

[paxmao]

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.

[Grim_Fandango]

I totally agree.

If I can go back in time, I would lead much more modest life and try to earn and save as much as possible in order to secure my future and preferably retire much younger than the legal age here which is 67 years old. Since I spent way too much money in my youth, my next chance for an early retirement is bitcoin.

[Churchillvv]

Although I understand what you mean but your English is weak and seems a little bit hard to comprehend fast.

It's has been the topic of everyday that one should make sure in life that your rich, don't live for today and suffer in future while you plan for today also look into your future.

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. At the very young age of men it's meant to be spent wisely knowing too well that in less than no time nature will take it's part in your life and you will be left no chance of changing the past.
Make haste while the sun shine.

[bittraffic]

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.

[Spaceman1000$]

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.

Wealth creation is not an easy tax for most people at a young age, it is very rare for you to see young people that are extremely wealthy. wealth comes after so many years of impute and the resultant effect of that input is what we see as wealth on the outside either in your late 40s or in your early 50s, so saving at your young age too is a good way of creating wealth for the future but as a young person it is most appropriate you channel your energy to productive activities because at they young age, most people are always in spending and youthful exuberance.
But the best time to enjoy wealth is at a young age, when you are vibrant and full of enthusiasm, but the societal structure does not give more privilege to young people because of structural deficits that makes it hard to gather wealth at young age.

[avikz]

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.

Cannot agree more! I have personally seen it's impact to some certain extent. Now I regret sometime why I didn't save more while I was young and I had a good amount of income every month. Just to give you a background, in 2007, I had opened my first stock purchase account and I hack purchased 15 shares of a coal mining company. I had purchased more but those 15 shares I never sold. Now fast forward to 2024, that 15 shares have now became 350 through stock split and bonus issues. I did not count how much return it is giving me, but it is in tune of few thousand percentage. I wish I did buy more.

Unfortunately in my country, schools do not teach about financials at early age. So it becomes the responsibility of the family to teach you the importance of saving early. I wish I had invested more when I was in my early 20 s.

[Don Pedro Dinero]

Well, what tends to happen is that when you are young you earn less money and the little you do earn you want to spend it. As you get older, you earn more and tend to save more for retirement, for example.

But someone with a vision for the future who starts saving very early and takes advantage of compound interest can have a significant advantage for the rest of his or her life.

Here's how much more money you'd have for retirement if you saved $100 a month starting at 25 instead of 35

The problem with that is that you don't know when you're going to die either. And if you knew you were going to die soon, you wouldn't save. Saving even if you are not expected to live long only makes sense when you are older, as long as you have heirs who will receive the wealth you accumulate when you die.

[Lucius]

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.

[Majestic-milf]

 The bottom line is to have something you can fall back on when your bones are too weak to do anything else. For the unskilled, it's going to be a bit of a challenge to keep up, especially if they've got a job which is not paying much and  there's a lot of bills to pay. Where I come from, the prices of food are constantly increasing and this forces the average individual to double up his grind and before you can save up, it means you must have two or three other jobs to support the one you are doing else you'd find that at the end of the day, you've got nothing to hold on to.

[Agbamoni]

With what you're saying here, we should spend less and invest while we are young. Thats very thoughtful to bring up this topic.

Many believe that life is too short, so they have this mentality of enjoy the life while you're still young. Yes, it is good to enjoy your life with the money you work for, but it is very responsible that while making all this expenses you should keep an eye for the future. I have never seen anyone who regret that they were able to save up or invest some money for two to five years. The experience has aways been worth it. It will be so exciting seeing the amount you have accumulated all these years.

Life experiences can be very tragic or fortunate. This is why we shouldn't let our desires take the best of us. We may be very earning bountifully and could broke any day same thing goes to being very broke and one day you become very rich. This is just life. We need to take opportunities that comes when we have the money to start a business, save in emergency funds and also try to invest wisely. Money can be spent in seconds without any difficulties but when you want to make money it is difficult and require some level of input. My experience i have share in this forum before has taught me a good lesson. So, i can't make that mistake of not putting my money to good use.

[Egii Nna]

This is what many youths and teenagers find hard to understand. Because whatever you invest at an early age is really what will give you the chance of getting a better life in the future, if most of them understand this, they won’t be suffering when they start getting to their last years of life. Youths and teenagers tend to be broke in their middle adulthood due to what they did in their early adulthood, which was engage in spending more than their income.

That is exactly a paved way to poverty, but they think that is the best for them, which is very wrong because it will definitely affect them in the future, but they don’t know, and it is a duty bestowed upon those that know the truth and those that have already made the same mistake in their lives to enlighten and educate the youth and teenagers that are finding it hard to understand reality.

Living an expensive or luxurious life is of no use to them because what they need to do in early adulthood is to construct a better life for themselves and their families in the future. I take early adulthood as a stage of constructing the foundation of your future, which is the same as in building construction, which means the taller the building, the deeper the foundation. People need to be more financially educated, especially youth and teenagers.

[electronicash]

saving is not anymore a good thing these days because you only allow the government to steal the value from you. you save cash while they keep printing. investing nowadays is easy because even the unbanked can already try investing in cryptocurrency.

our bank apps are already allowing people to try cryptocurrency so there are now options to just dive into what is trending.  putting your money into cryptocurrency is a better way of saving while it also provides a chance to make a profit.

[m2017]

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

This is the fate of all those who relied on pension funds imposed by local governments (with the caveat that this is not the case in all countries).

All young people, understand that time an money are linked.

Do all young people really understand this? But the value of money and time are completely unequal. If money can always be earned (and depreciated over time), then time only decreases (it can't be increased in any way). In general, money is converted time (more or less depending on the success of that conversion).

Make no mistake, you will need to start creating your wealth.

Mistakes are inevitable. Creating wealth is not easy. I also understand that I need to start this, but no one tells me how to do it. Can you give me some advice? You created this topic for a reason and clearly know something.

[Stepstowealth]

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

The old and poor die more easily because of lack of resources to fund and get access to a proper health care, and also eat the things that they should be eating at old age.

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.

Investing in assets is the way to prepare for the future very importantly while you are young, and have the energy to pursue more than one source of income, because investments made today will save you tomorrow at a time when you become without the capability to make investments, that is when you are old and no longer should be working for money. Investment will make old age comfortable. Some people are only investing in their children for old age, believing that the children will take care of them in old age, it is not bad, but one should have an investment in bitcoins too.  Investing in bitcoin now while young is a good opportunity to secure your future.

[Pi-network314159]

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.

The description that fits your explanation is make haste while the sun shines . it is better to enjoy in old age than enjoy in youthful age and suffer at old age. Alot of youth fall victim of this. They lack the zeal to invest or create wealth that will grown in due time and becomes something they will rely for future porpos. But leave a luxurious lifestyle thinking is the new era of fun without knowing that youthful exuberance will definitely decline. while the real you surfaces when you begins to fade. There is need to invest when you had the opportunity. Because it might be too late to say had I know. Wishing to turn back the hands of time.

Those that made same mistake has live Everly to regret it till the end of there life. It only came as a warning to there children not to make same mistake. If you don't see who gives you advise or opportunity to advise you, please take one from this forum and make your life better by securing your future with investment.

[Zlantann]

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.

This is a sound advice for anyone who cares about his future. This message is more useful to us who live in developing nations where the government does have not a support plan for the unemployed or the poor. We need to maximize our youthful age to save and invest in profitable areas that will serve as a backup in the future. There is no need to spend lavishly on material things that have no meaningful contribution to our well-being. Spending money on designer clothing, new versions of gadgets, luxury cars, etc without investing I not the best path to follow.

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.

As a young chap, you could do some odd jobs to survive. But when one is old and poor it could lead to suffering because one might not have the strength to engage in some work that could support him. Old age also comes with medical bills that are very expensive to handle, especially in countries that have no welfare package for the elderly. Nevertheless, it is better to live a lifelong financially stable life.

[Vinaa77]

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.

[Gozie51]

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 like this piece of information and advise too. Is just as you are saying save a dollar today or your local currency today that is daily and in 20 years time you will be surprised how much you got. For example, a dollar every day in January is $31 and in a year you should be having about $365 which is a good range of money that would have been wasted in frivolous articles that are not needed.. Daily savings makes easy for accumulation of money and that will help to cut down on expenses. Old age is enjoyable if you have set good plans for it like we already see older rich people and older poor people.

[ScamViruS]

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.

[darkangel11]

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. At the very young age of men it's meant to be spent wisely knowing too well that in less than no time nature will take it's part in your life and you will be left no chance of changing the past.
Make haste while the sun shine.

Don't shut yourself in this box labelled "not my fault." Many people do that and they say that because they had a hard time, there's no point in trying since they're at a disadvantage. The fact that your parents divorced, or you were abused, or you were poor growing up doesn't make it impossible for you to make money. It's just that you're starting much lower than some other people, like Biden's son.
When I was younger I had very little money but I never gave up. There are people much wealthier than me and I'll never rich that level, but I came from a situation where I had to save up for a year to buy myself a new computer or a bicycle to a situation where I save up for a year to buy a car. If I knew what I know now at young age, I'd have much more money, but that's a process of growing up. Most of us are dumb before we hit 30.