SAVING AND INVESTING
So in this video, I try to answer this simple question:
"Do people become rich by saving?"
So I'm an insurer (unemployed) and I know a little about insurance. So when you and everyone who pays a premium for a said insurance policy, the monies (a portion of it) are directed to the capital market, reassurance companies, or put in any low-risk investment which generates revenue for them. This is how they make a profit and not by praying that the said risk that is been insured doesn't happen.
My point?
Money is spent. Left idle it doesn't have any compounding effect.
Saving your money in the bank guarantees you a dividend at the end of the year with little or no risk but investing in a meaningful venture will probably earn you more. I discuss more on this in this video.
▶️ DTube
Yep, we gotta create a culture of investing in the young uns these days. Preaching a culture of saving just doesn't work any more, given the fact that interest rates all over the world are low and going lower.
with negative interest rates in Europe and 1-2 % interest in banks there is little point to 'saving' at least in the bank.
Great advice. ✅
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