Saving don't make wealth

[Bravut]

Sincerely the concept of savings has made some persons poor,but many won't realize the fact that saving don't make the difference but investing does.
 Am not saying saving isn't good, but my point is saving doesn't make one wealthy, the worst advice we recieve is  'save for tomorrow' but only few lay emphasis on the need to 'invest for tomorrow'.
So I would greatly say we invest some of our profits from bitcoin in to other stuff, than just holding it or using it for pleasure. The rare truth is how we believe bitcoin can change the game, so other systems are developing so we shouldn't be blindfolded.
Invest because savings doesn't increase or builds, investing is what gives you the life you want.
   Let discuss this guys..
  No matter how many bitcoin you hold you can still misuse the money, so we should understand the concept of Richness and Wealth.
 

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[jrrsparkles]

  No matter how many bitcoin you hold you can still misuse the money, so we should understand the concept of Richness and Wealth.
 

So you consider holding Bitcoin as saving and want to invest the profits from Bitcoin into something else?

Saving is what you save in the fiat like you save $100 a month in your bank account and not utilizing the money on something else will make you poor because the value of fiat depreciates due to inflation and the actual purchasing power of $100 may worth $90 in the one-year time frame if the inflation rate hits 10%.

Bitcoin also comes under investment cause its value is volatile and I don't deny that you could invest the profits into something else because 'don't put all your eggs in one basket' rule can be applied to minimize the loss.

[SamReomo]

Investment is really important in order to get wealthy but it's not right to say that saving makes people poor. In fact saving is the first stage of investing, if you don't save money then how could you invest it? I believe saving and investing work simultaneously.

If someone who's good at saving then that person can invest some money in Bitcoin and a few other assets in order to earn revenue when the Bitcoin or those other assets gain value. By following a DCA strategy, and holding your Bitcoin, you can gain profits and that's similar to saving, I guess DCAing and holding is similar to saving.

[GideonGono]

  No matter how many bitcoin you hold you can still misuse the money, so we should understand the concept of Richness and Wealth.
 

So you consider holding Bitcoin as saving and want to invest the profits from Bitcoin into something else?

Saving is what you save in the fiat like you save $100 a month in your bank account and not utilizing the money on something else will make you poor because the value of fiat depreciates due to inflation and the actual purchasing power of $100 may worth $90 in the one-year time frame if the inflation rate hits 10%.

Bitcoin also comes under investment cause its value is volatile and I don't deny that you could invest the profits into something else because 'don't put all your eggs in one basket' rule can be applied to minimize the loss.

If you would just let your money sleep by saving it, why not let it grow by investing it?
Most of us see Bitcoin or crypto as an investment so if you are saving your money in Bitcoin, it would basically be seen as an investment for most of us.
And I do agree that no matter how many Bitcoin, crypto or assets you have if you misuse it, it would all just be drained.
We've seen so many successful person or wealthy person in the past who are now broke due to their lack of fund management.
Misuse of their wealth by spending too much on luxury items, drugs or vices, gambling and other forms of addiction.

[Wiwo]

I think what we need is value, because alot of time many investors don't even know the value of the money when their financially make that profits they desires, because majority of them will waste the money in buying liability instead of acquiring more assets, so the question is not wether savings is good or bad, but it matter of where and how we save

Take bitcoin as you mentioned for example, anyone who holds bitcoin is saving their money and at the same time being involved in investment and that way, what the individual does with that funds is what becomes most important, but also savings in asset is what is worth the stress, aside that, keeping your money on the bank as saving is the dumbest thing anyone can do at this era and time that alot have changed.

[KingsDen]

Gone are the days I talk down on savings. There's no sure way of being wealthy while there are some leathers towards greatness and one of them is saving.

• Saving 20% of your income 
• Investing 
• Using the DCA method

Are all processes and tools to achieving financial breakthrough. So we shouldn't ignore them or down talk one at the favour of the other. The day I listened to a seminar about saving, I had a second thought about my idea of savings.

In as much as investment is important, savings are also important. The portion of money you save could just be out of risk and a cool advantage

[johnsaributua]

I appreciate people who can save because they spend what they get to save over a period of time that may lead to an unlimited future, saving is a trait that must be possessed to be wise in managing finances. But if the person is aware of investment, choosing instruments such as bitcoi or other assets is better, for me separate the habit of saving with daily needs, of course it will consider the funds in its function, because even though it is simple there are people who put together for investment and when they need it will take all until there is nothing left. this is not a big problem, just the stance when saving and investing.

[franky1]

savings is not about wealth creation...

savings is a temporary act to save a small nest egg of easy access/liquid RESCUE money for immediate incidents that surprise you, to stop you from panicking. it stops you from immediately cashing out investments at a bad time(bears) or using debt/loans when surprise events happen

you are only suppose to save small amounts like 1-6 month basic living costs. that will affect you that month
worse case is usually unemployment or a large repair.. but even just having savings of just a kitchen appliance failure is a starting point
alot of people think of silly things like a tornado wiping whole house away or a medical bill.. but these things do not demand full payment in first month. usually you have insurance or make a payment plan, so the initial shock value is actually smaller..
basically savings do not ever need to be enough for an entire house or entire lifetime of medical expense. its just a few months of shock value immediate need you need a savings pot for

then once you have that to be your buffer/stop-gap/rescue amount.. then you start putting your excess into into investments.
this way you are protecting your investments from needing to be touched by having the emergency funds(savings)

[Dr.Osh]

That's why it's very important to have good management of our finances. Saving will not make us rich, but it is important. Investing without saving will make us difficult when we have sudden needs. Many people underestimate saving, but they have to sell their investment assets reluctantly, and sometimes at low prices to meet the sudden needs they face.

For this reason, many people have suggestions for putting some of your income into savings. Even though it's only around 20% to 30% of your income, it can be useful for you in the future. maybe you can use 40% to 50% of your income to invest, and the rest to meet your living needs.

[shinratensei_]

saving can make you at least wealthy enough to hoard some asset if you have high income thats the key, with saving you don't generate money from your saving you are just allocating certain percentage of your salary to build up an asset enough to buy something you desire and if the something you desire is an asset on its own that means you're building wealth.
investing in the other hand is generating money from your saved money basically the saying making money working for you is investing, but the risk accompanied shouldn't be ignored since investing mean you could also lost your money so the key here is risking your money to make more money.

of course if you really want to build wealth fast you should be doing both things saving up some money from your salary and use it to invest, thats the key to building wealth if you are average people with jobs.
if you are on the entrepreneurial side, of course you wanna reinvest the profit you get to your business to make it generate even bigger profit.

[BD Technical]

Sincerely the concept of savings has made some persons poor,but many won't realize the fact that saving don't make the difference but investing does.
 Am not saying saving isn't good, but my point is saving doesn't make one wealthy, the worst advice we recieve is  'save for tomorrow' but only few lay emphasis on the need to 'invest for tomorrow'.
So I would greatly say we invest some of our profits from bitcoin in to other stuff, than just holding it or using it for pleasure. The rare truth is how we believe bitcoin can change the game, so other systems are developing so we shouldn't be blindfolded.
Invest because savings doesn't increase or builds, investing is what gives you the life you want.
   Let discuss this guys..
  No matter how many bitcoin you hold you can still misuse the money, so we should understand the concept of Richness and Wealth.
 

If you save, you can make the relationship right, your wealth will definitely be, and if you save, if you start breaking money, how will your wealth be?  To save you must have good income you need to save your savings will increase your wealth.  If you save, you are twice as likely to make a profit if you buy bitcoins as if you invested.  That is how quickly your property and if you understand that your relationship income will increase everything and if you just take money and leave it in the room or your personal no benefit will come to you it will be too late to save or make your wealth.

[Churchillvv]

Firstly Bitcoin is also an investment but you could say if one has alot of profit from Bitcoin he or she could diversify but this rule only applies of only one has enough Bitcoin already in his portfolio before he or she could think of diversification.

Now there are various factors that could determine ones success so it's not only about savings, personally I believe what people call savings that might save you tomorrow is the emergency funds that we all know that it should be one of the first things to put into consideration before venturing into an investment and if your emergency funds or reserve funds is okay enough then you have no problem because it could save you from unforseen circumstances.

Lack of understanding of Investment makes most people make alot of wrong decision Investment. 

[boty]

That's why it's very important to have good management of our finances. Saving will not make us rich, but it is important. Investing without saving will make us difficult when we have sudden needs. Many people underestimate saving, but they have to sell their investment assets reluctantly, and sometimes at low prices to meet the sudden needs they face.

For this reason, many people have suggestions for putting some of your income into savings. Even though it's only around 20% to 30% of your income, it can be useful for you in the future. maybe you can use 40% to 50% of your income to invest, and the rest to meet your living needs.

When someone can manage the income they have well of course they will be able to have funds that they are prepared to save and also invest. You are right that it is impossible to be able to carry out investments well if we don't have savings, because it could be when we are investing, we will have financial problems so we have to take the investment and cannot achieve the target we have set.

If we can do things as you have described, of course we will be able to achieve the investment targets we make and we will be able to enjoy the results of what we have invested, so it is very important to have savings so that we can carry out investments well. and can achieve the investment targets that we make.

[mamesso]

Actually saving and investing have the same goal, but they are distinguished by different concepts and play an important role in achieving a level of financial freedom within a certain time.

As Ben Franklin saying goes "A penny saved is a penny earned." Yes, no one can get rich just by saving, people who only focus on saving will miss the opportunity to grow their wealth. One of the advantages of saving is that it makes it easier to get money in an emergency and the goal is for the short term, but it will reduce purchasing power due to price increases due to inflation. Meanwhile, investing makes it possible to increase purchasing power to offset or even exceed inflation.

[sekalitas]

Sincerely the concept of savings has made some persons poor,but many won't realize the fact that saving don't make the difference but investing does.
 Am not saying saving isn't good, but my point is saving doesn't make one wealthy, the worst advice we recieve is  'save for tomorrow' but only few lay emphasis on the need to 'invest for tomorrow'.
So I would greatly say we invest some of our profits from bitcoin in to other stuff, than just holding it or using it for pleasure. The rare truth is how we believe bitcoin can change the game, so other systems are developing so we shouldn't be blindfolded.
Invest because savings doesn't increase or builds, investing is what gives you the life you want.
   Let discuss this guys..
  No matter how many bitcoin you hold you can still misuse the money, so we should understand the concept of Richness and Wealth.
 

I agree! Investing can be a powerful tool for wealth creation, and diversification is key.  While cryptocurrency offers opportunities, exploring other investment fields is wise.  However, it's crucial to tailor your investment strategy to your goals, considering factors like short-term vs. long-term objectives.

I believe saving is still important , especially for an emergency fund only . Imagine facing an unexpected financial crisis and needing money. Without an emergency fund, you might be forced to sell your crypto assets. But what if the price is lower than when you bought them? You'd lose money, right? .

[mindrust]

Saving creates wealth. You are pretty wrong on this one. The thing is, you should invest in the right assets. By “saving money” we don’t mean “saving FIAT”. Of course you should always have some FIAT to pay your bills and do your groceries but that’s it. Everything else should either go to crypto/gold or stocks/real estate. If you really insist on investing in FIAT at least buy some high yield bonds so it won’t be a complete waste. Keeping FIAT without having any returns on it is the worst investment of the century and the best way to stay poor.

[2Pizza410000BTC]

Sincerely the concept of savings has made some persons poor,but many won't realize the fact that saving don't make the difference but investing does.
 Am not saying saving isn't good, but my point is saving doesn't make one wealthy, the worst advice we recieve is  'save for tomorrow' but only few lay emphasis on the need to 'invest for tomorrow'.
So I would greatly say we invest some of our profits from bitcoin in to other stuff, than just holding it or using it for pleasure. The rare truth is how we believe bitcoin can change the game, so other systems are developing so we shouldn't be blindfolded.
Invest because savings doesn't increase or builds, investing is what gives you the life you want.
   Let discuss this guys..
  No matter how many bitcoin you hold you can still misuse the money, so we should understand the concept of Richness and Wealth.
 

I don't see saving as a bad thing if you can save then surely you will go well in future but if saving is in good things then you can achieve good things in life. There are many people in their country with money, I never call it bad because if we save, our future will be beautiful. We who are involved in bitcoin, but instead of saving, we are investing in bitcoin. The main attraction of our investment is that our next life is happy and peaceful. Just as we have a bright future those who don't know about Bitcoin have a bright future ahead of them so it's better to invest and save anyway. But if you go with bitcoin investment you can earn more profit on any savings and with luck all the tension of life will be removed.

[Poker Player]

To the OP there are some things he says that are not understood but I will not blame him because he is a newbie.

It seems to me that he has an important confusion. First, saving is the previous step to investing. In other words, one thing should not be opposed to the other. And secondly, we have already explained many times that the best thing to do is to have a part of savings, for emergencies or expenses that you foresee, and then investments. In other words, the dichotomy he puts forward is false.

[Jawhead999]

To build wealth, you need to invest, you can't invest if you not save your money, you don't have savings if you don't have a job that pays well or you're too lavish.

It means in order to build wealth, make sure you have a good job first and you're not adopt lavish lifestyle.

The problem of many people why they can't build their wealth are they don't have a good job or they're adopt lavish lifestyle, so you can't blame them if they're an unfortunate people who only make small amount incomes.

[|MINER|]

Better to invest.When investing, the amount of money keeps growing without a fixed amount.But should save.Saving and investment should be done together.After investing the profit part should be saved.If all the money is used for investment, then where will we get the money that needs to be used very quickly in a sudden emergency?  And not all money to invest in Bitcoin.  You can invest in other mediums or businesses that are trustworthy.Where you invest your money is entirely up to your personal preference.