Save while young better than wait

[southerngentuk]

Early adulthood is like laying the foundation for your future financial fortress. While teenagers might be tempted by immediate gratification and flashy lifestyles, the truth is, delayed gratification and building a solid financial base now is what paves the way for a secure and comfortable future.

But the problem isn't just a lack of knowledge. It's also about the allure of instant gratification. Social media bombards young people with images of luxury and excess, creating a warped sense of what "success" looks like. It's easy to get caught up in the pressure to keep up, leading to impulsive spending and a disregard for long-term financial planning.

This is where financial education comes in, and it's crucial to start early. We need to equip young people with the tools and knowledge to make informed financial decisions. It's not about depriving them of fun or experiences, but about teaching them to prioritize and budget effectively.

[Dunamisx]

As we know clear well that most children are likely not to like take along with us the pattern of making savings because they never understand the reason for doing that, all they think is for receiving provisions whenever a need arises that they are in need of money, but a grown up adult cannot behave in such a way because he knows the consequences, but we can start by teaching our young ones the way to make savings for the future in preparing them ahead.

[Solosanz]

Many young people don't want to invest their money and wait for the next 10-20 years because they don't like to delay their own gratification.

I can't say it's a problem because it's their own choice and their own life, as long as they didn't affect our life, I don't care with their choice.

Right now people who keep accumulating every penny and invest for long term will be bullied, but they're already old, those people will realize the importance of investing.

[itorai]

-snip-

This is where financial education comes in, and it's crucial to start early. We need to equip young people with the tools and knowledge to make informed financial decisions. It's not about depriving them of fun or experiences, but about teaching them to prioritize and budget effectively.

I think it should be like that, learning finance from an early age is important to maintain a better future and a beautiful old age, it is good for us as the current generation to direct youth who prioritize things that will be useful for a brighter future such as managing the right finances maybe it will help them in the future because, if not it will be very detrimental to it, as a simple example if we have any amount of money (inheritance) will run out if we cannot manage it. So I think managing finances from an early age will definitely make us calm in old age.

[LogitechMouse]

Re: Save while young better than wait

I'll change the word "Save" on your title because nowadays, saving alone will not make you rich. Investing will.
Use the word "Invest" rather than "Save" because that will make you rich. Invest while young.

~

The earlier you invest, the more profits you can get.

Some people think that they can still get more if they invest more money in the older stages of their lives, but the reality is, that it isn't. The younger you invest, the more profits you can get because of the term "dividends". If you're the type of person who reinvests the dividends that they're getting, your money will surely be more compared to a person who invested at a later stage of his life.

Being old, poor, and having no investment at all is the shittiest thing that a person can be in their whole lives. You will end up as a beggar if you have all 3 of those, or worse, you might just die while lying because you don't have any money.

[Kelward]

The main essence of depriving ourselves of some luxuries in our youthful age to focus on investments is so we can rely on the ROI in our older years, so we can retire and enjoy the fruit of our labor. A person that does not plan for retirement will end up being a liability to people that planned their future well, it's not a rocket science, I've seen older people who are living in poverty now, that were living luxury lifestyles in their youthful age. Although people think that you have to be rich before you can save money or have an investment, but it's not true, you can be spending bellow your income and save, it's not easy but it'll be worth it in the future. Bitcoin is a good valued asset that a person be doing DCA method, till retirement, be selling gradually then and enjoy old age.

[umbara ardian]

Investing isn't just about hoarding money for some distant old age. It's about building a foundation for a future you actually want. It's about having the freedom to pursue your dreams, whether it's starting a business, traveling the world, or simply living comfortably without constant financial worry.

And that's where education comes in. We need to ditch the dusty old image of investing as a boring, suit-and-tie affair. We need to reframe it as a tool for empowerment, a way to take control of your financial future and make it work for you.

Think of it like learning a new skill, like cooking or playing an instrument. The more you learn about investing, the more confident you'll be to make informed decisions, whether it's saving for a house, starting a family, or simply weathering life's unexpected storms.

Education doesn't have to be stuffy lectures or dry textbooks. It can be fun, engaging, and even interactive. Imagine workshops on budgeting with friends, online games that teach you about financial concepts, or even influencer content that breaks down complex topics in a relatable way.

[jrrsparkles]

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.

The earlier we start the longer we will have the long road of investment, someone with a worth of $1 million at the age of 60 isn't great to compare with someone who is having net worth of 200K in his 20's.

GenZ people forget the concept of saving and they propagate live the moment which is so wrong because it put the future at uncertain situation.

Save to invest to make money then invest and keep repeating it is the best way to make wealth in this current era.

[moneystery]

saving alone is not enough to be rich when you are old, young people must also be able to save and invest the money they get from their salary. because when someone just saves without thinking about investment, their savings may decrease in value due to inflation every year and they won't get any interest from it. whereas when they invest, it means they invest their money in assets that can give them returns that can increase their assets.

even though it is quite difficult to save and invest at the same time, if young people can reduce their lifestyle and start using their salary wisely, they should do this. because after all, saving and investing is one of the best ways that young people can achieve prosperity in their old age.

[AnonBitCoiner]

Everyone can save and invest but in the young age people think that their salaries are enough for them and they will continue their life with such salary but they forget that they will get old and will not be able to work so for that time saved and invested amount will be helpful. If you save money now then the value of your money will be increased as the time goes because early you invest more you will be profitable. Investment is a better way for making your future satisfied because no one knows that how long he will be able to do job so try to make planning for your future also as present is known but future is unknown.

[stomachgrowls]

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.

Easy to say but it would really be that hard to be done by someone specially when we are young on which we are still depending into our parents or we havent finished yet our education or simply not really that just mature enough on thinking about those things when they arent still on such shit condition but its true that while we are still young then it would really be that best that we should really be that early on trying to
deal up with things such as this on which started up to save and having those potential investment or business that we could be slowly be starting up because on the time that you would really be having those kind of
behavior then you might have the chance on progressing or become successful on later years but of course it isnt a guaranteed thing.

It would really be that a better start up or mindset to have while you are young rather than on spending on something useless and not something beneficial for the future but
well you cant be able to be affected by these things since you are still that depending from your parents but on the time that you would be earning on your own
and making use of your own money then this is where these realization would kick in.

[mrust_mobile]

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.

Investing is a great idea but you should also do it the right way. That's the most important information in life they don't teach you in schools because they don't want you to be financially literate. How are they going to raise them white collar wage cucks otherwise? If people were able to manage their own money, their kids wouldn't be wage slaves. Those kids would be as wise as their families financially and soon, the employers would run out of employees to hire.

Don't get the stupid idea that you can find this information reading only this forum or you can acquire that wisdom by doing nothing. You need to read lots of books and take some real education. Managing money is a serious business.

[MFahad]

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.

There is nothing wrong with living a good life but only if you can afford to do that along with savings and other necessary stuff. Most people make the mistake of spending all their earnings on materialistic things to enjoy their life instead of building assets, making investments, or even increasing their savings and all these things should be the priority for someone who is earning more than what they need to spend in a month. If your monthly expenses are taking 50% or less of your total earnings, you should use the remaining 50% in the best way possible.
Most people spend their remaining funds on themselves instead of building their future and when they get older, they start regretting their decisions because now they can't work and they don't have money nor any assets that can earn them money without much work.

[bbigtart]

Many young people don't want to invest their money and wait for the next 10-20 years because they don't like to delay their own gratification.

I can't say it's a problem because it's their own choice and their own life, as long as they didn't affect our life, I don't care with their choice.

Right now people who keep accumulating every penny and invest for long term will be bullied, but they're already old, those people will realize the importance of investing.

Regret always comes at the end, in this case regret will always come when a person is old and only realizes after he wasted the opportunity when he was young to invest or manage finances and build wealth as early as possible. Things like this happen a lot, therefore financial literacy needs to be taught to children so that children can manage their finances from a young age so that when they are old they will have financial freedom.

And those of us who are still young must learn from other people's experiences and mistakes to motivate us to continue investing our income to invest in the long term. Of course, to prepare money for investment we need to look for additional income, so when you are young you have to get used to looking for productive things and don't be lazy.

[|MINER|]

Thrift is a sign of good people.  Everyone should spend with the future in mind.  We cannot think of a high luxury life without saving enough money.  Don't save a handsome amount of money and don't overspend.  Because it is impossible to tell when the problem will come in people's life.  So maybe you have $500 and you end up spending $450 on a lavish lifestyle. And within a few days you get fired. Then what?  Even if you think about it, you should save money.

[Ever-young]

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.

What’s the point of getting rich in old age what will I use the money to do, at my young age I should be able to save up manage my finances and pend some careless spending that will bring me nothing aside from fulfilling my wants desire.

The best time for one to leave his life and make things right is during his youthful age and the old age is when they are suppose to relax and enjoy what they have worked for over the past years but that does not mean I should not be rich why young and enjoy the riches when am old.

[alankasman]

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

Pension money becomes an empty hope as security for old age. Most young people are willing to work full time with a fixed income that has been set every month and will receive a salary. The most basic assumption that people think about when they are willing to work in government is old age security.

Workers who are willing to work full time in a company may have similarities with workers as government employees.
All of this is useless if he doesn't have accurate planning during his journey to work. Instead of living a good life, it turns out that pension money is just empty talk in old age.
Without practical skills gained while working to get out of your comfort zone, old age will be in vain.

[lombok]

What the OP said is very good. However, in my opinion, saving is a waste of money, especially in fiat form. In my opinion, if we want to be rich in the future, from an early age we need to be more productive and financially literate, which I mean turn the money we have by selling goods, services or so on. With the internet, we can do anything with the money we have, even just $10. We can buy goods or something and then resell it, or create something with selling value or trade even on the exchange or crypto trading or investing.

There is a quote, if you want to be rich then trade.

[qwertyup23]

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.

I will be honest- I am somehow guilty of this. I tend to think of only the short-term satisfaction (even knowing that the long-term planning would give me a better outcome) rather than maximizing the opportunity that I have currently with my BTCs.

For example, majority of my BTCs have been spent in paying my monthly bills as a graduate student. Sure, I can set aside some of my savings in order to answer for these obligations but I tend to rely on my BTCs for it even that I know that the price of the latter would increase in the near future.

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 just hope that I would be able to manage my resources wisely. I am fully aware that the fork is happening soon and we all know what happens in the price of BTC when the former happens. Instead of using my BTCs, I will definitely try my best to save it for the future in order to take advantage of the fork.

[Huppercase]

saving alone is not enough to be rich when you are old, young people must also be able to save and invest the money they get from their salary. because when someone just saves without thinking about investment, their savings may decrease in value due to inflation every year and they won't get any interest from it. whereas when they invest, it means they invest their money in assets that can give them returns that can increase their assets.

Sving fiat currencies in countries that did not have strong economy is a waste of time and effort. Saving money generally is not a good idea and at the same time is not a good plan to be rich in future. If you only save money, after some years the money you save will not have the same value it use to have, therefore investing the money at early stage is better, but let the investment be in a something very profitable lie real estate, or bitcoin.

even though it is quite difficult to save and invest at the same time, if young people can reduce their lifestyle and start using their salary wisely, they should do this. because after all, saving and investing is one of the best ways that young people can achieve prosperity in their old age.

Sometimes, this lifestyle of a thing is due to peer pressure. If at a very young age you are able to understand the benefit of saving money, you will not be influenced by you fellow friends, you will focus on investment because it is the best.