Your Bank Account Does Not Make You Wealthy , But Your Investment Does.

[Shinpako09]

There are employees who are able to live comfortably and even retire just from their salary alone. They may not become extremely wealthy, but at least they've managed to build a comfortable life.

That said, I agree. I'd rather invest most of my money, especially in crypto, than let it sit idle in the bank. I'd only keep enough for emergency funds and other necessary expenses, then invest the rest.

It's hard to become wealthy by relying on your salary alone. It will probably take much longer if that's your only source of income. Investing can help shorten that journey, as long as you do it properly instead of blindly putting your money into anything.

[joniboini]

Any money kept in the bank can be affected by inflation, and possibly decline in value, but invested money sustains the value of your currency, grants the investor financial freedom, and boost economy as well.
Wealth can only be created by investment, and not dumping huge amount of money in the bank .

If people learn a bit about finance they'll know about interest quickly. Even the most basic saving account on banks right now offers interest when people store their money there. Obviously it won't grant them 30% increase per year or so, but a lot of people know they can save their money on banks and get that benefits. If they aim for higher return they'll chase other options. But not everyone has the profile to do so. If something has a high chance to give high return, it also means the risk is higher. There's no free lunch.

[Vaculin]

Inheritance also can make you wealthy, but most likely that kind of inheritance was made through investment in the first place, so yes its only investment that can make people wealthy.

However, not all investments can make us rich especially if its done through inexperienced and blind investment. Aside that investors should know their investment well, it should also be a must that any investment you make, must also be align with your passion and interest, knowledge and skills, so that the productive growth will be ensured.

[Faisal2202]

Any money kept in the bank can be affected by inflation, and possibly decline in value, but invested money sustains the value of your currency, grants the investor financial freedom, and boost economy as well.
Wealth can only be created by investment, and not dumping huge amount of money in the bank .

What is your take on this?

I can't agree more. Wealth can only be created by investing in innovation that solves real world problems. You can invest in many things, gold, BTC, etc. We have plenty of options, but every option possesses different outcomes. For example, if you want to preserve the value of your wealth, then gold is the first priority of the rich. If you want to utilize the volatility of the growing Bitcoin industry, then you can invest in it for the long term, not to preserve the value alone, but to make a lot more profit because it is more volatile than gold.

People who hold their money in banks to earn APY are making consistent profit in a year, and they are happy with it, but they still have to save money and spend moderately. Above all, in many countries banks have a lower return rate than the inflation in a year.

Therefore, we must calculate the value of our money, not the numbers, if we want to know which investment option is better and gives us financial freedom, and BTC can do all that.

[Ziskinberg]

Experience will definitely lead us to a productive and wealthy life, most especially if we come up with multiple investments that generate different flows of income. Patience and consistency as well should not be ignored, because experience alone cannot make it, one should be patient and consistent enough to make sure that the investment is making progress, until it lead you to create accumulated wealth.

Good investments will make us rich, along with experience, patience and consistency to keep throughout the process.

[eightdots]

Inheritance also can make you wealthy, but most likely that kind of inheritance was made through investment in the first place, so yes its only investment that can make people wealthy.

However, not all investments can make us rich especially if its done through inexperienced and blind investment. Aside that investors should know their investment well, it should also be a must that any investment you make, must also be align with your passion and interest, knowledge and skills, so that the productive growth will be ensured.

Investing should be done with thorough research, not blindly. Investment can make someone rich, and with the right moves, that person can maintain their wealth. To make a sound investment, you need to be knowledgeable about the market and conduct detailed research in your area of ​​interest.

Investing isn't easy. Anyone can invest, but it requires doing so consciously. You need to follow market dynamics and the factors affecting the global economy.

[passwordnow]

It is necessary to know that , you cannot become a wealthy person earning salary alone. Now there are people who earn good salary, and only depend on their salary to survive, and these set of people hardly become wealthy.

In most cases, this is true. But don't forget those highly paid employees who are sticking to their jobs and earns a lot of money. So aside from the pay, they get benefits from the companies. Thus, they're able to afford house mortgage and cars.

Any money kept in the bank can be affected by inflation, and possibly decline in value, but invested money sustains the value of your currency, grants the investor financial freedom, and boost economy as well.
Wealth can only be created by investment, and not dumping huge amount of money in the bank .

What is your take on this?

Not can but actually is affected by inflation. And it's only the banks that are taking the advantage on it because that's how their business works. They loan the money from the depositors and they pay us back with little interest that's not even par with the inflation rate. There's a different purpose why we keep money in the bank and that's for some cash ready and not really for growing it.

[Maslate]

Your money in the bank will only be eaten by inflation, especially if you let it sleep without guaranteed interest. That's why I don't suggest putting a huge amount of cash in your bank account, because its only the bank that will benefit your money, but you will have nothing but only very small interest.

Instead, learn to invest into something that is within your passion and skills, something that you have good experience of. Otherwise, if you'll just invest because everyone is investing, because of peer pressures, then you are not actually doing an investment, you are gambling with your own hard-earned money.

[Gozie51]

What is your take on this?

Of course you need additional income from what you get in a pay job before you can be wealthy. I'm yet to see a wealthy person that depends on only one stream of income. You must own other business investment to get to such status.

Diversification is one thing sure for wealth acquisition because you are going to earn from different investment. Also, with diversification, an investor can get support from the business incase the other is having challenges. That is the reason people get wealthy because they don't run just one business and source capital from the other business to finance the fallen one.

Keeping money in the bank is not profitable rather you invest in bitcoin. Keeping money in the bank , you get alerts for different charges from same account while they are using the money left with them to service other customers financial request.

[freedomgo]

Yes, a good investment can make us rich but it does not happen overnight, but on a gradual process along with patience, compound interest and diversification of your investment assets. Simply put, you reap what you sow, if you invest on a wrong asset with unclear plans and goals, you will gain nothing but will only make you poorer.

However, if you invest into something from long-term preparation, careful analysis and development of skills, and of course with patience and market endurance, not only your investment will give you profits, but will make you wealthy in the long run especially if you create a good diversification of your valuable assets or investments.

[Renampun]

While investing is recommended, it's important to understand that not everyone understands the investments they make.. some people invest their money in assets they don't understand or are tempted by the promise of quick profits, which can lead to them losing their money.. while investing is recommended, understanding what you're investing in is equally important, as not all investments are good and can provide promising returns in the future.

[GiftedMAN]

It's a proven fact that salary alone can't make you rich, nor can the amount you have in the bank make you a rich person. What makes or can make you a rich person is the business or investment you have made. That's what can grow your wealth over time and even sustain you at old age, when the bones are weak, and you don't have the strength to work yourself up.

The money you have in the bank is not adding up so it has nothing to multiply rather you kept it to help the banks to keep taking countless charges from you while you have nothing in return. You salaries can not make you become wealthy if you want to become wealthy the price is to sacrifice your time to ensure that you become a strong investor or a top business person as salaries can not make you to become a comfortable person in life and in future.

A good investment grows your finance and increases your chances of becoming wealthy in future that's why it is important for you to choose investment over mere savings, business over working for salaries if you intend to be wealthy.

[SUPERSAIAN]

To become wealthy is not so straightforward, the fact that you invest does not mean you are going to become wealthy. If you earn around $48,000 annually, how much of that money would you be able to save, then invest, in order to become wealthy. I would allow you do the math, but it is almost impossible.

Investing is good and you can make a lot of money later on through compound interest, but when you talk about wealth, it takes a whole lot more. One very common way of becoming wealthy is if you are innovative, and if your innovation is a breakthrough and becomes widely used nationally or globally.

That's precisely why the percentage of truly wealthy people in the world is so low, because becoming rich isn't just about saving and investing. Investing is certainly important and helps you preserve the value of your money, grow it, and become more financially secure in the long run. However, investing alone doesn't put most people among the great wealthy. Wealth usually comes from earning a high income and creating different opportunities.

It requires innovative ideas or solving major problems.

[Iranus]

What is your take on this?

I agree with most of what you said. However, one thing needs to be clarified: investing only provides opportunities and doesn't automatically guarantee success or profit. And whether we can capture, utilize, and turn those opportunities into result depend on our knowledge, strategy, and risk management ability.

Don't simply think that investing alone will guarantee profits and make you wealthy. Many investor have become rich, but there are also many others who have gone bankrupt because of poor investment decisions.

Investing is about risk and opportunity, not a guarantee.

[X-ray]

It is necessary to know that , you cannot become a wealthy person earning salary alone..

I don't think this is true, senior position at big corporation pays you half million up to several million annually, I'm sure you can become rich by just being an employee at the right company.

Any money kept in the bank can be affected by inflation, and possibly decline in value, but invested money sustains the value of your currency, grants the investor financial freedom, and boost economy as well.
Wealth can only be created by investment, and not dumping huge amount of money in the bank .

What is your take on this?

This is true but you will also need to know your way around investing, if you're not knowledgeable enough you might lose your money.

If you earn big amount of salary from your job alone, letting it sit on bank deposit is sufficient but it's better to invest it.

However I believe if you've got millions in your bank account you'd still be considered wealthy regardless.

[Primark]

I personally agree with some of your points. But you have guaranteed additional profits. Bitcoin can do well in the long run, but if your cash management is wrong, short-term volatility can put you at risk. Investing in Bitcoin does not mean that you will become rich. Rather, you should see Bitcoin as a way to store value in your savings. When you say that investing in Bitcoin will make you rich, many new investors may buy beyond their means without considering their situation. Buying beyond their means is never good, rather it weakens their financial position.

[B-BossMan]

It is necessary to know that , you cannot become a wealthy person earning salary alone..

I don't think this is true, senior position at big corporation pays you half million up to several million annually, I'm sure you can become rich by just being an employee at the right company.

Any money kept in the bank can be affected by inflation, and possibly decline in value, but invested money sustains the value of your currency, grants the investor financial freedom, and boost economy as well.
Wealth can only be created by investment, and not dumping huge amount of money in the bank .

What is your take on this?

This is true but you will also need to know your way around investing, if you're not knowledgeable enough you might lose your money.

If you earn big amount of salary from your job alone, letting it sit on bank deposit is sufficient but it's better to invest it.

However I believe if you've got millions in your bank account you'd still be considered wealthy regardless.

Sured, there are some people that are earning bigger salary and they are succeeds same goes to some that earn small salary and they also succeeds one way or the other. The truth is, isn't about having money or earning big, but it's about target and financial plans and also a financial disciplines mindset, I know quite alright that different types of investment or businesses make someone a successful investor, but it has to work with everyone's intentions rewards a particular investment. Some people actually have huge money in thier bank account but they lack business or investment ideas, so its better to know what someone is investing on, is the asset has value such as Bitcoin, and also know the risks management.

[Joeboy]

Wealth can only be created by investment, and not dumping huge amount of money in the bank .

What is your take on this?

Investment is good and highly recommended for folks who leave in a country where their currency experiences constant devaluation... And the kind of investment that folks should concentrate on  are those that are long term and that has good track record..Coz not all investment are worth it. There are some investment or Businesses that are not even worth your time and money. And that's why research is needed in order for folks to be able to determine the best investment to go for...And folks shouldn't just enter into any investment without first understanding the risk of their investments..

[Hewlet]

Any money kept in the bank can be affected by inflation, and possibly decline in value, but invested money sustains the value of your currency, grants the investor financial freedom, and boost economy as well.
Wealth can only be created by investment, and not dumping huge amount of money in the bank .

What is your take on this?

I think that this is pretty basic for most investors and that for most cases, even the regular dude that leaves his money in bank sees it as a form of investment since he's hoping to get some profit from it in the form of interest.

At a time in your financial journey, you will eventually find out that what you need is not just a place to HODL your money but a means through which your money can bath more money and that is where investing in the right thing comes into play. You've got to know what to invest into such that profitability is attainable and it doesn't look like you're gambling or wasting on your asset.

[CageMabok]

I personally agree with some of your points. But you have guaranteed additional profits. Bitcoin can do well in the long run, but if your cash management is wrong, short-term volatility can put you at risk. Investing in Bitcoin does not mean that you will become rich. Rather, you should see Bitcoin as a way to store value in your savings. When you say that investing in Bitcoin will make you rich, many new investors may buy beyond their means without considering their situation. Buying beyond their means is never good, rather it weakens their financial position.

What you're saying is quite reasonable, because anyone who buys Bitcoin beyond their means will certainly not do well in the end. Therefore, anyone who buys Bitcoin clearly does so based on careful consideration, using their own funds and based on their own plans, without any sense of coercion. We also need to understand that smart investors will never act rashly based on the lure of others, as they usually care more about their own research than the claims of others. So invest wisely and choose assets that have potential in the future, in this case like Bitcoin, and throw away the idea of ​​getting rich quick when investing because everything always requires a process.