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

[ndutndut]

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?

Everything you said is true. Relying solely on your salary rarely makes you wealthy because inflation coupled with your lifestyle, usually eats into your income. Even if you have a substantial salary if you don't have assets that can grow over the long term you will lose out to inflation, especially if you keep your money in the bank.

So, the key to creating financial freedom is that once you have sufficient income you must convert some of it into assets that work for you such as investing in Bitcoin or gold or even in a business, depending on your expertise.

Saving money in the bank is safe, but inflation will gradually erode its value, so only keep it there for daily needs. Your mindset must change now don't just work for money, but make money work for you. Investing must be a priority, but investing shouldn't be haphazard it requires knowledge, discipline, and patience. Essentially, diversification and continuous learning are key.

[Thomas krik]

You’re right, Investment is one of the most effective ways to build long-term wealth because it puts your money to work. Whether through businesses, stocks, real estate, or other productive assets, investing gives your money the opportunity to grow over time. On the other hand, leaving a large amount of money in a bank account mainly keeps it safe. While this is important, inflation gradually reduces the purchasing power of idle money, meaning it can buy less in the future than it can today.
Banks still play a vital role. They provide security, easy access to cash, and a safe place to keep funds.

[SDS11]

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?

I 100% agree with the core of what you’re saying. My take: salary alone rarely makes you wealthy, A good salary is actually your biggest advantage, Money in the bank loses value. You can’t get wealthy by saving naira/dollars. You get wealthy by owning assets: businesses, bitcoin, stocks, land,etc.  the bank is just the parking lot. Investing is where the car actually moves.
Salary is not bad,it’s the fuel. No investment without income. So the play is: Earn well, save a portion, invest consistently, be patient for years.

[retreat]

I won't say that investing will guarantee you'll become wealthy, but the investments you make can give you a better chance of becoming so in the future. Since the money you save won't grow on its own if you just put it in the bank, it might seem like you have enough savings, but that money isn't productive and will slowly lose its purchasing power over time due to inflation. So the most appropriate thing to do is invest it.

However, in this case, you might need to understand that investing has risks and requires proper knowledge. So, even though it's recommended, you need to do it more carefully and consider your finances.

[Pi-network314159]

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?

Actually you have made an explicit point here and I applaud you for that, but however even as investment is very good and profitable than salary job, the salary work is also important because it makes a person to be serious and become dedicated and overall he made money to to start up something that will creat wealth. Like me I have been able to set up a business that will later creat wealth for me in future time from my salary job, although cash in the hand or account  are affected by inflation, but it doesn't mean that we don't need to save money in the bank. Fund in the bank can serve as an emergency fund to scale through challenges during tough times. Any source of income can be utilize and wealth created by such means.

[DYOR+BTC]

Everything we do has its own responsibility and can never be interchange between each other, same also is investment to the use of a bank account.  The primary obligation of a traditional banking unit  is for saving our money for future use which can never be interchange  from that of investment.  
Investment is an agreement understanding built with a primary objectives of making profits within a specific period of time, while that of
savings are different from that and Is to secure the money and keep it save till it is needed for investment programmes.  Although saving in the bank may be used if the need arises.

[BALIK]

Everything we do has its own responsibility and can never be interchange between each other, same also is investment to the use of a bank account.  The primary obligation of a traditional banking unit  is for saving our money for future use which can never be interchange  from that of investment.  
Investment is an agreement understanding built with a primary objectives of making profits within a specific period of time, while that of
savings are different from that and Is to secure the money and keep it save till it is needed for investment programmes.  Although saving in the bank may be used if the need arises.

Exactly. Saving and investing are two completely different concepts, but many people like to compare them and make unfair judgment. Saving is about preserving money and ensuring liquidity when needed, while investing is about seeking profit and always involves risk.

They aren't interchangeable and each has different purposes and roles in life. Our task is to allocate and balance them appropriately, not to choose one over the other.

How can we hold onto our investment until we earn a return if we don't have saving and emergency fund for unexpected needs and circumstances?

[Cityhunter34]

It absolutely depends on the salary you are earning, because there are well-paying jobs out there that can easily make you wealthy if you organize yourself very well.

Sometimes we need to understand that jobs are in different categories, but the truth still remains that one should always try as much as possible to invest, no matter how little you are earning. Because there's nothing better than investing your money wisely.

[Showlove01]

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?

You are absolutely correct there are folks who still have this mentality that only there salary alone will make them to be wealthy in life which is a self fallacy and until they renew or change their mindset nothing will ever change in their life once someone only depend on their salary then they will always be stagnant but once they split their salary Into other investment or business then growth will be possible and certain even though it may not happen immediately but with time. The only period someone can get a little thing from bank is when the money is in savings which will yield interest annually or quarterly depending which will not still be enough to change anything.

[YOSHIE]

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

Yes, that makes sense, salary can only cover daily needs, but investment is what makes someone have more economic value and become rich.

What's more, with the current economic situation, inflation is high, basic commodities are skyrocketing, all necessities are expensive, while salaries never increase, this proves the imbalance between the economy and needs.

Many government employees in my place are racking their brains to invest whether in Bitcoin, gold or investments elsewhere, in this way it will certainly improve the economy in real terms and of course have the hope of becoming rich.

[Mayor of ogba]

Money kept in the bank can't sustain someone for a very long time if he or she stops earning money. I know of someone who was working in a big establishment he didn't have any investment he was busy buying different types of cars and land but when he lost his job the money he saved in the bank couldn't sustain him for a very long time, he sold all his cars and land just to start up an investment he will depend on to sort out his bills. Investment is the yardstick to wealthy and it's what can sustain our lifestyle after retirement until we leave planet earth. I know people who have lost their money via investment and their lives was ruined but it's not enough reason for people not to invest their money.

[pMatrix]

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.

It all depends of your goal, timeframe, years, we can not talk general about this.

[Dynamite++]

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?

Amazing topic, and there don't teach this in schools which is really not good. Most people work their whole life depending only on their salary, telling their self there will save to buy a house or a car, but most never do, and if there do there might end up selling it, and here is why. Inflation is the reason for this, just imagine saving up to buy a car and all of a sudden the price of the car moves up due to inflation, your money just basically losses it previous value. So basically investing and letting your Money grow with the economy is the only way from preventing your money from losing it's value.

[Cgrexp]

It absolutely depends on the salary you are earning, because there are well-paying jobs out there that can easily make you wealthy if you organize yourself very well.

Sometimes we need to understand that jobs are in different categories, but the truth still remains that one should always try as much as possible to invest, no matter how little you are earning. Because there's nothing better than investing your money wisely.

You cannot become rich with salary alone. Many people from the lower or middle class, if they think that they will become rich with their income, then they will never be able to do so. Most of the money that such people earn is spent. If they can use the remaining money through savings or investments, then only they will be able to earn good profits from it, which they can use to improve their lives. You are right that no matter how small the income is, even a very small amount should be invested from it. Because if someone can maintain consistency in small investments, it will eventually turn into a large amount.

[Adiljutt156]

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.

Experience surely helps but I don't think that it is the requirement for someone to start investing if that was true then there would be no one who can invest without having experience, just invest the amount that you can afford to lose and learn over time, while investing in strong companies that are financially independent or diversified fund it is not required to constantly predicting when to enter or exit the market.

Success comes from being consistent, patient, having a strategy, and then being willing to learn from mistakes; the market always rewards discipline more than perfect timing. Instead of telling people to avoid investing during certain times, it is better to encourage them to start small, educate themselves over the period of time and invest according to their financial goals and the amount of risk that they can tolerate

[kawetsriyanto]

It absolutely depends on the salary you are earning, because there are well-paying jobs out there that can easily make you wealthy if you organize yourself very well.

Exactly. It is what I have explained above.
Sure, there are well-paying jobs, people get quite a lot money from some jobs. The salaries even can increase if the performance improves. This kind of jobs surely can make people wealthy.

Sometimes we need to understand that jobs are in different categories, but the truth still remains that one should always try as much as possible to invest, no matter how little you are earning. Because there's nothing better than investing your money wisely.

Indeed, there are some categories of jobs, it differ the amount of the salary. However, investment is still the most effective way to make people wealthy. Investment offers multiplying the amount of money if we can do it in a proper way. Sure, it requires good knowledge and deep understanding about the investment.

[Jerusalem12]

Well, most people probably know that investment is always the way for other businessmen to prosper or become rich if they do the right thing and choose the right investment.

Most of them also have bank accounts but most of them are not rich, let's say they are in the middle class but there is still the part that feels the hardship in the economy they are facing in their country because of inflation.

[AprilioMP]

[edited out]

What is your take on this?

That's the right way to protect and save money for the future. Earning a good income but not using it for investment will lead to regret later, as holding onto money will lose its value due to inflation-induced depreciation.
Based on my experience, I've been taught from a young age how to interpret money correctly and avoid making mistakes with it, even though it's merely a means of transaction (paying for goods and services).

[Smack That Ace]

It absolutely depends on the salary you are earning, because there are well-paying jobs out there that can easily make you wealthy if you organize yourself very well.

Sometimes we need to understand that jobs are in different categories, but the truth still remains that one should always try as much as possible to invest, no matter how little you are earning. Because there's nothing better than investing your money wisely.

You cannot become rich with salary alone. Many people from the lower or middle class, if they think that they will become rich with their income, then they will never be able to do so. Most of the money that such people earn is spent. If they can use the remaining money through savings or investments, then only they will be able to earn good profits from it, which they can use to improve their lives. You are right that no matter how small the income is, even a very small amount should be invested from it. Because if someone can maintain consistency in small investments, it will eventually turn into a large amount.

That is possible. There are many high paying job, and if you manage your finances well, you can absolutely become wealthy from your income.

However, those job usually require a high level of expertise and experience and are not accessible to everyone.

Most of us here are probably from the lower or middle income class, so investing can be one of the more way to build wealth. But that doesn't mean investing is the only way. There are many other ways to accumulate wealth and become rich.

[Jasmyne]

It absolutely depends on the salary you are earning, because there are well-paying jobs out there that can easily make you wealthy if you organize yourself very well.

Sometimes we need to understand that jobs are in different categories, but the truth still remains that one should always try as much as possible to invest, no matter how little you are earning. Because there's nothing better than investing your money wisely.

What you said is the truth, there are some persons that have very high paying jobs that live well off their jobs. The hidden truth is that they still invest that money for more money and to build more wealth. The money don’t just sit in their accounts because definitely they have responsibilities, bills and other things they need to do with money, the higher the pay, higher your responsibilities and without any investment, there is no space for more growth. This investments are actually for future purposes.