Why save & invest money for the future?
If so, you may be wondering what a silly question that is because it’s so obvious that you need to save money for the future. We all do it anyway!
You are wrong!
Believe me, over the past decade we have had many investors who don’t think with the same care and foresight as you do. Many investors are willing to save money. They just put their savings into the future and rely on luck, or maybe they don’t give enough energy to save money.
That’s why today I thought I’d write ten simple reasons why you should save and invest your money for the future. I want these ten points to serve as a reminder. Keep in mind that when I say “Save” in this article, I mean “Save and Invest”!
Speech no 1: It will help you in difficult times
We all know that life is dynamic and that bad thing can happen. You could lose your job and one day become unemployed. Or it costs a lot of money to bond with a loved one. You never know what the future will bring!
If you have enough savings with you, you can handle the situation much better and don’t have to raise more money for others. There are always stages in life when things go wrong and if they are not saved they can cause problems! So saving helps you in difficult times!
Reason No. 2 – One day you will stop earning
Sometimes I am amazed that many people forget this simple point that one day they will not understand.
This is called “retirement”
I see many in their thirties and forties pretending to have deposited their entire salary into their bank account. They don’t make enough effort to save money. They keep putting off their investment plans and one day they realize they are in a danger zone now!
Remember that your expenses will never stop when you start working, but your income will only be 55-60!
Reason No. 3 – To be calm
You always feel a sense of security and peace of mind when you have enough wealth to count. I’m talking about the daily feeling you get when bad news comes.
Imagine your situations like:
• There have been layoffs in your company
• Thoughts of bringing someone into the family.
• More news on the education of your children .. AGAIN !!
All these little things in life will unconsciously haunt you and you will not have peace of mind because deep down you know you have no savings or less wealth. If you come across something at work, how do you handle it?
If you have worked for many years, you agree that there are difficult days when you want to disconnect from everything and you want to relax and enjoy life. You get tired of doing business and this fast run and all you ask yourself is “If I had enough wealth in my bank account”!.
It also leads to a lot of stress and you can be left out of the picture compared to your peers. So it’s very important to start saving for the future!
Speech no. 4 – Get it for free financially
We all want to reach a stage in life where we don’t have to be totally dependent on our salary. We all want to create enough wealth to generate income at least to manage our basic expenses. I’m talking about financial independence.
When you go to work, you have no resources and are 100% dependent on your salary. But over time, your wealth basket should increase in value so that you can withdraw money as needed.
If a person needs Rs 40,000 per month for his expenses and has a savings of 4.8 lac, he knows he will have cash on hand for at least 1 year.
With 48 lac it can take 8 to 10 years (inflation is not taken into account here)
This way, you will reach a point in your life where your wealth will be sufficient to create an income stream that manages your basic expenses, even if it is not a luxurious lifestyle.