Why save & invest money for future?
Are you thinking of saving money for the future? Yes or No? Or do you believe that this is a stupid question because we all save something?
The truth is that not everyone is prudent and thinks about progressive approaches because most people are living hand-to-mouth when it comes to saving for the future.
So when we are thinking about the reasons for people to put the money aside, we are actually thinking about why they are putting off money for later rather than consuming it now.
Truthfully, there are a number of specific or non-specific purposes. Let’s talk about why it’s important to save and invest money for the future.
Saving is one of the most fundamental bits of financial advice you will ever get out there. I am writing these 07 points to act as a reminder to you and not only your future family, but your future generations will thank you for that.
Reason # 1: This money will be a guardian angel in your bad times
Anyone can land in an untoward emergency, that might be surgery at a hospital, a car repair or it could be a sudden job loss. Your saved money will help to cover unexpected expenses.
Reason # 2: One day, you will stop earning
Do not forget that one day you will be handed over your retirement letter and always remember that the sooner you start saving for your retirement, the less you will have to save for the future.
Reason # 3: You will gain peace of mind
If you have ever lost a job, you will know how unsettling it feels. The only way to have a sense of security and feel at peace and to fall back on is to have more money, and that is only possible through savings.
Reason # 4: You will be financially free
One of the great parts of adulthood is the independence and freedom to do what you really want to do. The notion of ‘being wealthy’ only comes if you are financially independent. Remember that If you don’t save money, you will accrue more debts.
Reason # 5: Feeling of progress in life
There is a little-known truth that happiness comes from being organized, and trust me, you will feel great when you take that once-in-a-lifetime trip abroad. It simply means taking control of your future by yourself.
Reason # 6: Explore an alternate career
If you have savings, you can easily pursue certain passions and take calculated risks in life with less worry. You got the money, go take that diploma from that world-renowned university or go take scuba diving classes outside of your country. Or, you can even start a small-scale business to have that financial backing to get it off the ground.
Reason # 7: Do something that can leave a legacy
Only a person with no future inheritance will understand what I am speaking about. It will not solve all the issues of life, but trust me, you just build upon that. Be an awe-inspiring story of wisdom, financial fortitude, and honor for your grand or great-grandchildren, leave a legacy.
So start today by setting aside a little money every month. It will take a bit of work and motivation, but it’s a habit worth getting into.
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