Photo by Mathieu Stern on Unsplash
To Save or To Invest?
Just a random thought... everybody wishes to build up their wealth, but the problem is, how?
Should you be saving? But it may take forever to save a retirement sum...
Should you be investing? But you cannot invest without any money at all...
If you think of it like a lifelong battle, you can view saving as a way to defend and safeguard your needs, and investing as a way to attack and aggressively achieve what you desire.
My Saving Mantra:
- Avoid borrowing where you can, you won't want to accumulate debts
- Live within your means, frugally
- Look for opportunities to earn stable and high income
- Don't spend more with each salary increment
My Investment Mantra:
- Cater a small expendable sum of monthly savings to investmetn
- Diversify into different asset class and industries
- Conduct my own research before investing
- Look out for sustainable passive incoming assets
As usual, the above works for me and ain't financial advice. Thank you for bearing with my random banter!