Some persons may feel this type of money decision topic Is kinda personal especially trying to guide people on whether they should “save money or invest money“
The truth is; there are some financial stages that One may be fortunate to reach and you’ll desperately need to talk to someone…Anyone!
You very well know that any wrong decision you take may mar or make your financial progress.
So those who may be wondering about the usefulness of these types of topics, have not reached the stage where they are faced with this type of money decision.
But as for those who are here already and feel stuck on how to decide about saving or investing their personal finance, then;
Here are some practical advice that will be worthy of your time
As the saying goes “getting rich is not about working hard but working smart.”
The rich didn’t become wealthy by working tirelessly day and night but they are able to work hard, work smart and invest big time.Every Extra Dollar
Successful Businessmen/women’s Investment runs mostly In a two-way.
1) They invest in knowledge; knowledge that will eventually yield positive future profits and, how exactly do they invest in knowledge to triple their finance?
a) By getting personally trained in high-demand skills.
Most People become wealthy by making proper use of the opportunity.
They target high demand skills that can fetch them extra money and get personally trained on them.
For example, since Real Estate is making people wealthy, then the average Dick will invest heavily in it and then wait for the profit to Tumbledown.
While successful ones start learning Real Estate very deep (whether free or paid), strategize and invest lightly.
b) By investing in the skills of an employee i.e an employee or assistant who has a high demand gift and whose continuous exposure is capable of tripling their employers or partners’ income.
Most employers remain on the average level because they do not know the potential of scrambling through to find gifted talents in their employees.
While most employers are not even willing to invest in employees.
The power of exposure to useful money knowledge and skills is what gives a wealthy person advantage over their poor counterparts.
Smart men recognize talents and are able to utilize them perfectly for their personal benefits.
2) They invest in high-end passive income Streams.
They are all-rounders in money issues (they make extra money, save more and invest hard)
Which makes them unlikely to go broke at any point in time in their lives.
You can also learn some secrets of Frugal Millionaires
So should you save money or invest money?
save money or invest money
There is a one-way answer to this from my years of experience. You may not entirely agree with me, that is why this is a conversational post.
You can tell me what you believe and your personal opinion in the comment section below.
Let me share a personal story with you so you can better understand from which perspective I am taking these from.
When I was much younger, I vividly recalled a period when my uncle was laid off from a Mercedes company.
He was compensated with a huge money which could have possibly changed his life for a very long time.
A family gathering was later organised to help him decide how best to put the sum to good use.
After several hours of conflicting advice, my exhausted uncle decided to just save the money.
Later on, one after another, his extended families began a “plea for financial help.”
My poor uncle kept on goblin from one financial story to another until he eventually burnt off all his savings in an alarmingly short period of time.
You did not invest in anything because he was scared of losing his money.
Up until his last $500, he was still trying to figure out what he should invest in that will bring in maximum profit in a short period of time.
Now, my uncle is not the only person who has made this type of bad decision.
There so many others right now who are currently facing this or have gone through this already.
Here are the following conclusions if you are still wondering whether you should save money or investment money
Save money or invest money
1) Saved money doesn’t turn up to become something huge because at the end of the very good day, no matter the type of savings you are staying put with, you still need to keep saving to turn it into lots of money in a reasonable amount of time.
But a little Investment in a profitable venture can turn out to be something very big later on.
For example, if you decide to invest some money in high yield stocks, you never can tell how much it will blow out to be in the nearest future.
Investment can turn up to become shockingly huge even if you started with something very small.
Likewise when you create or acquire a passive Income business (Investment), you may work very hard at some point but once the business takes off, you won’t be able to predict the amount of money it can make for you.
2) You cannot deep your hands full into invested monies because most times, they are not in cash forms but you can certainly do so with saved monies.
3) Investing money will each you to be a money Pro.
It will teach you how to master growing finances and what clearly works or what doesn’t in-the-money race.
It is generally advisable to invest in two or more income streams so that when one fails or not going as planned then another can easily supplement.
I hope you can finally decide if you should save money or invest money.
For me, if you are at the stage in your life where you are faced with a decision as to whether you should save money or invest money’, then…Invest more!
Of course you have to save first before investing.
So keep saving and don’t forget, after saving, invest most of the saved sum.
You can decide to follow the rule of 60%/40%.
Investing money is one of the best personal finance hacks that will make you wealthy.
Invest 20% and save 10% of your personal finance.
Finally, learned why you should save money or invest money?
Tell me your personal opinion “point-black” in the comment section below…
I will be waiting!