Thursday, 31 August 2017

Why do we save money?

August is near to finishing line.  Last week was interesting. There was solar eclipse. Luckily, I got the chance to be outside. With a homemade pinhole camera and folded film strips, I got a great view. Using the old film negatives and a regular sun glass, I was able to view the solar eclipse.

As a side note, the air is getting cooler. Once again, long sleeves and sweaters are out.  A trip to the beech was  awesome .  The plac e was not crowded as usual. To make it a lazy day, we did a take out lunch. That very relaxing weekend didn't cost much.
I read some online articles. Mark Cuban was saying savings will not make you rich. I think, saving money is the beginning to attain financial independence.  To accumulate unlimited amount of money, one needs to invest money aggressively.  Once you have that halo of "money richness", you will be saved from your mistakes. We must remember how the big companies were bailed out by governments in the past. The CEOs who made the big mistakes were rewarded with big bonuses.

Since there is no one to bail us out, ordinary people have to save money for a rainy day. Then with lower risk investments we can grow that a bit .

With no employer pension to count on, people like me has to save money, not to be rich, but to survive the golden years.



2 comments:

  1. That is the same reason why we save - financial independence. There is so much freedom in not worrying about money. There is enough in life to worry about than debts and not having enough money to live on

    ReplyDelete
    Replies
    1. That is true. I am dreaming of a time when I don't have to depend on my employment to pay my bills.

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