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

[Jubilee58]

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.
When you are earning good salary, it an opportunity for you to invest your money properly. You can decide to invest in business, Bitcoin or even in the stock market, and years of patience will definitely yield a significant result, and probably make you a wealthy person.

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?

[pooya87]

Although investment is good thing to do but at the time being it may not be the best idea to get near certain markets. One of them is the stock market. Due to the increasing global economic uncertainty, the businesses are going to have to face lot of challenges in the near future. That means the stock market becomes so much risker to enter. Specially for those who don't have any experience reading the market.

This highlights something very important for investment: experience.
Anyone wanting to make an investment and be successful in it, has to have a lot of experience. To know which market is good to enter, which to stay away. When to enter and when to exit. and so on...
In other words just making an investment doesn't make anyone wealthy. Investing wisely does.

[Odusko]

Building finances requires a lot of experience, discipline, and knowledge. Running your own business, which gives you control over finances to yield profits both in the short term and long term, comes with a lot of hard work and sometimes uncertainties. However, you must be prepared for the stormy weather; this is where experience comes in. Being successful in business takes a lot of hard work. Salaries can make you rich; depending on how much you are earning monthly, we have people working and earning hundreds of millions in a month. With savings, those guys could be super rich in their bank accounts or stock holdings, even without business running, so it all depends on the individual's cash flow and financial management to build wealth.

[Coyster]

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.

[Donk1]

What is your take on this?

In as much as it sounds easy to the ear investment is not. I agree that salary jobs can't make you wealthy because if you calculate the money you as a salary earner gets in a year, you will find out it's certainly not enough. That said i believe every investment needs a plan, strategy, analysis, a backup fund, and you as a person also need to be aware that investment doesn't guarantee you to be wealthy, but it gives you a chance to increase your capital if you are patient enough. It's easy to say investment of any kind is risky as not all cryptocurrencies are safe havens most are shitcoins.

To make it clear OP i agree with you, but we have to be real with our opinions. Stuff like what you said could mislead newbies to jump into investment with no plans of any kind..

[Jasmyne]

For any long lasting successful person, there must always be an investment behind that success. You need to invest your money into something that will multiply in future and also help you build wealth because salary might stop coming one day, and investments will alway serve as backups.

[Cryptomultiplier]

What is your take on this?

Any salary earner that understands that at any moment they stop work and don't earn salary anymore, they are at the mercy of inflation no matter how much they have saved up in the bank, but the underlying factor is that if they can and have been allocating some part of the salary to appreciating or high yield generating asset, the money works for them and brings returns and that is what builds and ensures wealth.

A salary is more like a raw material and it might buy you time and stability at the moment, but income growth is flat-lined.

[Asiska02]

Earning a salary is one of the best way to start up an investment especially when you’re yet to start up a family or having a lot of financial issues at hand to solve. Using your salary as your main source of income to start your business no matter how small can help you to grow gradually. Some business needs consistent funding no matter how little to keep it striving and going, with a reliable source of income like for salary earners, it will be a good way to start to create more opportunity for more wealth for yourself and open more ways for expansion.

In the course of using your salary as your main source to build a reputable business, even though it fails, you would have learnt from experience and starting again will come with more caution for mistakes not to repeat themselves. If you give yourself few years, you would have known better the best business for you and the one that will be sustainable with the amount of money you earn now to build it. Salary will stop when you retire but your business will never stop as long as you’re still alive and have set the path of continuation for it running effectively.

[Cryptoprincess101]

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.
When you are earning good salary, it an opportunity for you to invest your money properly. You can decide to invest in business, Bitcoin or even in the stock market, and years of patience will definitely yield a significant result, and probably make you a wealthy person.

Earning salary alone still makes some people wealthy but it may not build generational wealth, so it depends on how much your salary is, how long you have been working and the weight of your bills and expenses. I know a man who has been working in an oil & gas company for more than 20 years and i learnt that he doesn't own any investments that generates income for him. He only specializes on building houses and it's not even as if those houses were built for business.
    Investment is good but it also depends on what you invested your money on, because there are people who made wrong investments with their money and regretted it. And again, it is good to have many investments and not focus all your energy on one investment even if it generates major income for you, there is need for diversification on assets that will be sustainable in the long-term. Bitcoin is an example of a sustainable investment since it has potentiality in the long-term but that doesn't mean that you should have only bitcoin as an investment.

[Mate2237]

Salary is necessary for investment it, it's expected that as a salary earner you should think beyond your salary and look at financial independence. Anyone who is looking up only for a monthly salary is sitting under a time bomb no matter how big the salary may seems to be. This is why most people view salary as a trap that has kept plenty people back.


We should be able to save something up from our salary no matter how small that our salary is, and start something in firm of business which will bring in some income to you at the end of the day. Saving money in the bank with out that money adding value to you like bringing profit to you at the end of the day such money should be discribed as a waste.

[Hypnotizer]

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.
When you are earning good salary, it an opportunity for you to invest your money properly. You can decide to invest in business, Bitcoin or even in the stock market, and years of patience will definitely yield a significant result, and probably make you a wealthy person.

I suppose many people atp have already realized that Salary alone can’t make you rich not to talk of even being wealthy. As you’ve already mentioned before… it’s really important for a working class/salary earning person to invest in something they trust and can hold on to rather than just “save up” the money and think they’ll become rich by saving money.

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?

Sure nobody has ever become rich or Wealthy just by saving money in the bank, and you need to protect your money from inflation, so it can be overstated that investments are really important for salary earning people to grow their wealth/money and preserve their income against inflation.

[Callido]

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?

Money produces more money, it has to be invested correctly in order to generate returns.

Banks are now giving interests on money kept with them but the profit at the end isn't compared to what a person will get if the money is diverted into something else, either any form of physical investment or digital investments.

Money kept in banks should be there to solve urgent problems, without needing to tamper your investments prematurely.

[ColdLava40]

What is your take on this?

Indeed investment is better than  leaving money in the bank, but we should not try to body wash investment because it's not all bed of roses. Investment comes with risk, your money will not always sustain it's value especially when you invest wrongly.

Bank doesn't appreciate the value of your savings but it doesn't make it bad. We make a choice to put our money to work for us, so it just doesn't sit still in our account while we work day and night trying to make more money.

With the right knowledge, you can make a choice to invest your money into something worth your capital.

[Jewan420]

It is never possible to become rich with a limited source of income, rather you should only be able to fulfill your needs. To become rich, you must have an unlimited source of income, where your income is not limited. Salary The salary received from a job is limited, but you can get unlimited money from business or investment.

Getting unlimited money does not mean that you will get a lot of money just by investing or will keep getting a lot of money from business. Rather, an unlimited source of income means that the money is not fixed, but the amount of your income can increase and decrease. However, if you work patiently after investing in a business or asset, it is possible to get money from there to become rich.

Investing is also not an easy or guaranteed way to become rich, you need to have special talents and have the knowledge and skills to use money correctly.

[BTC FutureKing]

Building finances requires a lot of experience, discipline, and knowledge. Running your own business, which gives you control over finances to yield profits both in the short term and long term, comes with a lot of hard work and sometimes uncertainties. However, you must be prepared for the stormy weather; this is where experience comes in. Being successful in business takes a lot of hard work. Salaries can make you rich; depending on how much you are earning monthly, we have people working and earning hundreds of millions in a month. With savings, those guys could be super rich in their bank accounts or stock holdings, even without business running, so it all depends on the individual's cash flow and financial management to build wealth.

Both your business and job are right according to the situation that is if a person is intelligent experienced and knows how to establish discipline then that business runs very well because not everyone in the world has the skills to do business that is why a job is also a blessing for them.It is a good idea that if the job is paying a good amount of money then make a monthly budget and keep aside savings and invest that money in a good and continuous place with the passage of time and remember that always be ready to face difficulties in business and instead of keeping money in the bank put this money to work because the bank will only keep your money safe and not increase it.It all depends on you how much intelligence you use to earn money from money.

[LGD2Business]

If money sitting in the bank made you wealthy, then everyone with a large bank account would already be wealthy. Money loses value just by sitting there. Inflation is a reality. Term deposits only slightly mitigate the effects of inflation. They can't protect your money in the long run and your money will become worthless. Keeping money in the bank is very risky, especially in countries with the highest inflation rates like mine. You might earn interest in the short term, but in the long run that money will be eroded. You have to put your money to work, in other words you have to invest. I think everyone on this forum knows this very well.

[Marykeller]

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.

I like how people are learning about this(the younger generation): that investment serves good than being a salary earner who works all around the clock for what they will eat, and pay little bills, not for them to think of being wealthy. With investment like Bitcoin or starting up business, they can think of being wealthy in the future.

[Felicity_Tide]

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

~snip

You can decide to invest in business, Bitcoin or even in the stock market, and years of patience will definitely yield a significant result, and probably make you a wealthy person.

A quality investment over a given period of time should unarguably make an Investor wealthy especially when their accumulated assets are far greater than their liabilities_{(like debts)}. Majority of the salary work in today's world are basically meant to make people stay afloat, and staying afloat has nothing to do with long term. But it's important to know that the quality of investments plays a good role in this. A person who earns something of an average might not necessarily make the same investment as someone who earn massively... And this boils down to how quick they can attain their wealth status.

[ZAINmalik75]

We actually also need to understand the difference between being wealthy and being rich. It is important to know that when you make investments, mostly you cannot expect to become wealthy because of the investments you are making, but you could possibly get rich from it, because investments can make you profit, sometimes less and sometimes more, but investments can barely make you wealthy, unless you are compounding your profits and reinvesting it back after every time you make some profit, and then it becomes big at the end, but most people don't do that.

So, what can actually make someone wealthy is starting and either running or selling businesses and companies. If you do research, you will find out that most people who are wealthy in this world either own businesses or have built and sold businesses and keep doing that. Some create business and then run and manage them to grow, some create businesses, pitch it to other businessmen, and sell them and then move to another business, but this is proven to be the way to make wealth in this world.

[justdimin]

If money sitting in the bank made you wealthy, then everyone with a large bank account would already be wealthy. Money loses value just by sitting there. Inflation is a reality. Term deposits only slightly mitigate the effects of inflation. They can't protect your money in the long run and your money will become worthless. Keeping money in the bank is very risky, especially in countries with the highest inflation rates like mine. You might earn interest in the short term, but in the long run that money will be eroded. You have to put your money to work, in other words you have to invest. I think everyone on this forum knows this very well.

The reason why we often hear the term that life is unfair is because of such things. You see, those people who have something doesn't know the proper use or value of it, and those who know its value and proper usage don't have it. The same is the case with the people you mentioned who have money and resources available, but they don't know the right way to use that money and how they can put that money to work. They might have enough money to start a business, they might have enough to make good and useful investments, but they don't do it because they don't have much knowledge or understanding of such things, meanwhile those who know don't have enough resources.

You mentioned the effects of inflation over the money kept in a bank or in a currency that can possibly lose value or purchasing power over time, but some people just don't understand these basic things. They only look at the face value of the money they have, which means that if they kept $1m in the bank for 5 years, they only see that they still have that $1m in the bank, without realizing that the same $1m cannot buy them a house now that they could buy back then, because inflation has increased the price of everything around them but their money has been sitting there idle, and it now doesn't have the same purchasing power as before.