Unlocking the Path to Wealth: Strategies Beyond Saving Money

Gone were the days when we believe the part to wealth creation was to keep saving up every penny we get, which means the more money we can save the more wealthy we become, this were the childish statement that do come to my mind right from primary school days and the funniest part was our parent never open or enlighten us to the investment part of the finance world or probably because it wasn't that common then. I remember vividly, what they always tell us is not to eat with our ten fingers which means if we were given $5 we shouldn't spend everything but instead we should save some percent for future use.

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I was going through @burlarj post on Saving money can't make you rich which throw some light about how savings cant make one rich, I really agree with him because that is what most people think especially most youth of nowadays with no proper knowledge of what the finance world is all about, we all have this savings to accumulate wealth mindset which is totally wrong, I remembered when I opened a bank account while I was still doing a 8-5 job as a typist/computer operator, I was trying my best to save some part of my salary in the bank which according to me is my own means of investing but all of a sudden, I noticed the monthly maintenance fees and the funniest part was they will credit me some certain amount and remove double of it as debit, It took me a while before I realise saving up in banks isn't the way out but instead a day light robbery, so I stopped saving up in the bank and decided to read more about wealth accumulation/investment.

That was when I first heard the statement "The rich grow richer while the poor keep getting poor", it was a shocking statement to me back them and their are lot of things I saw or should I say noticed in most investment platform, I do wonder how the rich investors entered from one project to another investing hugely, getting back their capitals within a short period of time and enjoy the profit on a long run, seeing this in various project make me realised it is a common thing while the average/poor ones having this fear when it come to investing, they are always scared until the opportunity passed them over. I remembered the one I witness of recent about a friend of mine who ask me what he can do with some certain amount of money he just received from a monthly contribution he has been into for money, I really don't give advice on financial based stuff because of the market volatility and how people are always scared so instead I will rather pick a stable coin investment for them with proper enlightenment but this time around I decided to enlighten him about how he can create an investment plan with the banking app he have been using for years.

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Saving up a target amount he will create for himself over some specific days and also get 15-18% apy at the end of the target days, which is good and also safe but I was surprised when fear set in and the first reply was what if the bank crash, it was shocking because this is one of the approved Microfinance bank he have been using from wayback and I just kept mute. Fear is one thing that is really hindering people when it come to investing and just like burl said,

The rich keep getting richer and the poor remain stagnant because the poor are scared to invest for fear of losing their money but they are never scared to use that money to eat till they finish it..