Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,194,383 members, 7,954,548 topics. Date: Friday, 20 September 2024 at 09:54 PM |
Nairaland Forum / Nairaland / General / Investment / Savings Vs. Investments: Which Is Better? Any Difference? - Topwritersden (16844 Views)
Forex Trade And Football Betting Any Difference ? / Savings Vs. Investment: Which Is Better? / Savings Vs Real Estate Vs Stocks vs Forex: Which Is The Best Type Of Investment? (2) (3) (4)
(1) (2) (3) (4) (Reply) (Go Down)
Re: Savings Vs. Investments: Which Is Better? Any Difference? - Topwritersden by Lexusgs430: 10:32am On Mar 09, 2018 |
While your savings is chilling in an account (possibly earning little interest), a wrong investment could make you contemplate an early suicide mission. On the other hand, a right investment could make you win in riches...... Subject to the bank holding your savings, not folding up..... Folding your money in savings with it.... |
Re: Savings Vs. Investments: Which Is Better? Any Difference? - Topwritersden by YoungDaNaval(m): 10:33am On Mar 09, 2018 |
addikt:No investment is sure me man. it's all risk! |
Re: Savings Vs. Investments: Which Is Better? Any Difference? - Topwritersden by sekundosekundo: 10:37am On Mar 09, 2018 |
Manus17: The richest man in Babylon......"if your output is greater than your input your upkeep becomes your downfall" This financial statement changed my financial life as an orphan. Read also RICH DAD POOR DAD, WHO MOVED MY CHEESE, THE ENEMY CALLED AVERAGE etc. These books will inspire you and will almost make you kill yourself if you had mismanaged money before. Don't forget that money has wings and can fly away from you if you don't know how to manage it. |
Re: Savings Vs. Investments: Which Is Better? Any Difference? - Topwritersden by Gkemz: 10:38am On Mar 09, 2018 |
It's easier to save than to invest but it's more profitable to invest than to save. Also it's more risky to invest than to save. Finally, don't invest what you can't afford to lose. 7 Likes 1 Share |
Re: Savings Vs. Investments: Which Is Better? Any Difference? - Topwritersden by Nobody: 10:39am On Mar 09, 2018 |
Hybrid of both I will say 70% investment 30%savings Savings is required in a country like Nigeria where insurance cannot be really trusted to provide impromptu financial assistance when needed The naira is a terrible currency that hardly appreciate in value and when it does, it will never reverse the losses. Thus, relying on savings most especially in a currency like naira maybe a terrible option In addition, the sky rocket rate of inflation that comes with the volatile currency because of the dependence on importation of goods will probably wipe out a huge chunk of the savings eventually. However, investment also depends on a number of factors such risk appetite One might choose to invest in stocks(shares and securities) or physical long-term investment like property and businesses In Nigeria, the best investment option seems to be property investment. The rate of demand for new houses continue to rise as against the supply of new one. Thus, creating a supply shortfall. I.e there are less and less houses as the population grow This is a sure bet to guarantee safety against a volatile naira as well. As the prices of land and housing property continue to rise with the currency Nonetheless, government securities such as bonds and treasury bills can also be a good option of investment for those not capable of investing in the property market, but the return is not as much as property investment. Investment in shares and private bonds can also be a good option, depending on the type of shares and bonds one can lay his/her hands on. 3 Likes |
Re: Savings Vs. Investments: Which Is Better? Any Difference? - Topwritersden by Nobody: 10:40am On Mar 09, 2018 |
Investment is better because investment generate more money unlike when you save, during inflation, the value of the money you are saving reduces. 2 Likes |
Re: Savings Vs. Investments: Which Is Better? Any Difference? - Topwritersden by iamdannyfc(m): 10:42am On Mar 09, 2018 |
Sending urself to skul, is it a saving or investment? |
Re: Savings Vs. Investments: Which Is Better? Any Difference? - Topwritersden by dominique(f): 10:43am On Mar 09, 2018 |
bettercreature: Is it a taboo for a woman to make her own money? 1 Like |
Re: Savings Vs. Investments: Which Is Better? Any Difference? - Topwritersden by Nobody: 10:43am On Mar 09, 2018 |
BiafranBushBoy: Wow! Awesome! BiafranBushBoy(Triple-B). What you have written is Gold. I learnt this the hard way as a beginner when I squandered my Savings on some investments that saw my entire savings go down the drain. This is what I now preach and you articulated it in a better way. Lovely! I need to share this. |
Re: Savings Vs. Investments: Which Is Better? Any Difference? - Topwritersden by LordKO(m): 10:45am On Mar 09, 2018 |
I stopped reading the hogwash where I saw "savings equals to no risk" - until you lose your savings to a bank directly or indirectly or inflation caught up with it then, you'll begin to accept the fact that understanding is superior to knowingness. Kindly preach this hogwash to conformist, that's the kind of information they like to absorb. Unfortunately, conformists aren't known for adventure but covetousness. Savings is good but it's in no way better than investment - there's no risk-free activity anywhere. The first rule of investment is understanding (not just knowing) the market segment. Those who understand practices, they don't just teach/preach - teaching is for those who knows but have little or no understanding of what they teach. I hold nothing against you though. Peace out. 7 Likes |
Re: Savings Vs. Investments: Which Is Better? Any Difference? - Topwritersden by Joshuaoseoboh(m): 10:48am On Mar 09, 2018 |
NONE IS BETTER THAN THE OTHER, THE TIME AT WHICH YOU DECIDE TO SAVE OR INVEST IS WHAT THAT MATTERS. 4 Likes |
Re: Savings Vs. Investments: Which Is Better? Any Difference? - Topwritersden by Ejiphill09(m): 10:54am On Mar 09, 2018 |
_A bank is a broker between the poor and the rich. The only place where the two meet is in a bank. The poor brings the money, through saving, and the rich takes it, through borrowing. A poor person saves the money because they have more money than their thinking capacity. So they keep the money in the bank so they can go and think what to do with the money they saved._ *On the other side, the rich people come to pick that money, through borrowing, because they have more ideas than the money they have. On a practical side, please show me one billionaire who got rich through saving and I will show you a million Nigerian who have money saved in the banks and are still renting the houses that the Millionaires and billionaires build through the poor people savings which the rich borrowed from a bank.* ```This one �got me thinking.``` 8 Likes 1 Share |
Re: Savings Vs. Investments: Which Is Better? Any Difference? - Topwritersden by DollarAngel(m): 10:57am On Mar 09, 2018 |
Nice one OP |
Re: Savings Vs. Investments: Which Is Better? Any Difference? - Topwritersden by obembet(f): 10:57am On Mar 09, 2018 |
Great |
Re: Savings Vs. Investments: Which Is Better? Any Difference? - Topwritersden by obembet(f): 10:58am On Mar 09, 2018 |
Wonderful |
Re: Savings Vs. Investments: Which Is Better? Any Difference? - Topwritersden by bettercreature(m): 11:01am On Mar 09, 2018 |
dominique:Its not a crime but its unneccessary.You can find a wealthy man if you simply invest the money in your body |
Re: Savings Vs. Investments: Which Is Better? Any Difference? - Topwritersden by seunlly(m): 11:06am On Mar 09, 2018 |
BiafranBushBoy:My favorite |
Re: Savings Vs. Investments: Which Is Better? Any Difference? - Topwritersden by Nymeria247(m): 11:09am On Mar 09, 2018 |
Dear OP, George Samuel Clason is the author of the book THE RICHEST MAN IN BABYLON and not Napoleon Hill. Please modify your post. |
Re: Savings Vs. Investments: Which Is Better? Any Difference? - Topwritersden by BiafranBushBoy: 11:13am On Mar 09, 2018 |
seunlly: Everybody's favourite. |
Re: Savings Vs. Investments: Which Is Better? Any Difference? - Topwritersden by BiafranBushBoy: 11:14am On Mar 09, 2018 |
Nymeria247: Thanks bro. I mistook for "Think and Grow Rich" 1 Like |
Re: Savings Vs. Investments: Which Is Better? Any Difference? - Topwritersden by BiafranBushBoy: 11:16am On Mar 09, 2018 |
JimaeChinko: Thanks so much bro. Just go to the blog and share. One Love! |
Re: Savings Vs. Investments: Which Is Better? Any Difference? - Topwritersden by BiafranBushBoy: 11:21am On Mar 09, 2018 |
LordKO: Lovely. Let's make an example. Is 1 Million Naira in 2000 the same as one Million Naira in 2018? I will help you - the answer is NO. Inflation killed it. How many people have One Million Naira in their account today (9th March 2018)? I will help you, the answer is just below 30% of Nigerians (Including working class people). Do you know that someone who started saving 20k from 2000 until this period will have been a millionaire? (Your answer is who cares?) That millions would have helped them set up a big business despite inflation. Imagine if your dad started saving since year 2000 till now and handed you 5Million Naira, would you complain of inflation affecting the money? Many people prefer investments, but end up squandering all their money without actually investing. Good day Sir. 2 Likes |
Re: Savings Vs. Investments: Which Is Better? Any Difference? - Topwritersden by BiafranBushBoy: 11:22am On Mar 09, 2018 |
iamdannyfc: Investment! But a long term investment (which actually might not end up being successful) |
Re: Savings Vs. Investments: Which Is Better? Any Difference? - Topwritersden by Nobody: 11:22am On Mar 09, 2018 |
iamdannyfc: Depends.. If sending yourself to School leaves you with more debt than is supposed to then it is a bad investment. A lot of people don't realise this so they waste their time and resources on Courses that they are never passionate about and come out to join the already stretched job seeking population. Think and Grow Rich advised we go for "SPECIALIZED KNOWLEDGE/EDUCATION" instead of a General One. I realised this after wasting 5+years(Jamb,Tertiary&NYSC) only to come out and realise that I really never needed them. I would have just gotten my ACCA professionals, etc, I.T(NIIT,etc) right from Secondary School. Some of them lead even to B.Sc and immediately would have started my own vision/company and become an employer of labour instead of wasting all that time and resource and still come back to starting up your vision late. 1 Like |
Re: Savings Vs. Investments: Which Is Better? Any Difference? - Topwritersden by winterfell007(m): 11:25am On Mar 09, 2018 |
Investment is the better option. i will always advise that we should as much as possible give our little money we save to Wealth Managers such as: FBN Mutual Fund, ARM Wealth Managers, AIICO Mutual Funds and a host of others, they understand the business of wealth creation and sustainability and they have been accredited and licensed by the CBN to carry out such business. if u ask me i prefer making my investment with these companies than to save up with one 'ýeye' pension fund administrator 1 Like |
Re: Savings Vs. Investments: Which Is Better? Any Difference? - Topwritersden by rhames(m): 11:29am On Mar 09, 2018 |
BiafranBushBoy: I am keeping the sum of ten million naira to invest in the upcoming shares of MTN Nigeria plc. That is an investment i believe. |
Re: Savings Vs. Investments: Which Is Better? Any Difference? - Topwritersden by Coldfeets: 11:34am On Mar 09, 2018 |
You asked what's supposed to be an open question. And then you started defending probably your own belief/standpoint. Very funny. |
Re: Savings Vs. Investments: Which Is Better? Any Difference? - Topwritersden by gabicon: 11:34am On Mar 09, 2018 |
One precedes the other, we are meant to save then invest what has been saved. Why? Savings have potential of depreciation, while investment has potential for multiplication. $1 million 20 years ago is stronger than $1 million today thanks to inflation but $1 million invested in 20 years ago with a 10% interest rate, you can do the maths. |
Re: Savings Vs. Investments: Which Is Better? Any Difference? - Topwritersden by Manus17(m): 11:35am On Mar 09, 2018 |
sekundosekundo: Noted. thank you very much.. 1 Like |
Re: Savings Vs. Investments: Which Is Better? Any Difference? - Topwritersden by iamdannyfc(m): 11:36am On Mar 09, 2018 |
JimaeChinko:hmmnnn.... Wow |
Re: Savings Vs. Investments: Which Is Better? Any Difference? - Topwritersden by iamdannyfc(m): 11:37am On Mar 09, 2018 |
BiafranBushBoy:kush, hmmmnnn |
Re: Savings Vs. Investments: Which Is Better? Any Difference? - Topwritersden by olujastro: 11:46am On Mar 09, 2018 |
If you asked me this same question last year, I would hurriedly say investment. I had no savings in the bank, so much that my account officers started calling me to ask why I stopped using their banks. I was busy diversifying my investments as much as possible. But now I strongly believe in a balance of both and I've raised my savings portfolio to about 30% this year. This happened after I lost N1.5m in December in one of the investments I decided to try, then it dawned on me that money in the bank (even though doesn't generate anything) isn't such a bad idea. I have learned to set a threshold of invested capital for myself which I have attained. Henceforth I'll be growing only my savings, because hunger to use more money to make more will possibly make you lose almost everything and leave one bankrupt if care is not taken. 5 Likes 1 Share |
How You Can Start Investing As A Student Or Young Adult / Athene Network: How To Mine GEMS For ATH Tokens Free / Trading In MTN Shares Suspended After $5.2bn Nigerian Fine
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 72 |