Is it necessary to save and invest money despite being rich?

[TOZZIBLINKZ]

The act of saving and investing money is not only restricted to those who are striving hard to achieve financial freedom, rather the act of saving money is for every individual both rich and poor seeking for ways to maintain wealth and also seeking for ways to be financially equipped for the future because the future is considered to be filled with so much unforeseen occurrences and untold circumstances which from time to time will need the involvement of money to be adequately resolved and handled. Even if you are rich and wealthy it is never a sufficient and adequate reason for you not to save and invest money and that is because no individual is guaranteed to be rich and wealthy forever and there have been many recorded occasions and situations where individuals who were once considered rich and wealthy have later gone broke and poor. Most of the time the reason leading to their loss of wealth and riches is always trailed to the fact that they did not save and invest their money when they should have.

In order to maintain our wealth and riches it is absolutely necessary that we understand the importance and the benefits that comes when we take our time and our energy to invest and save our money now that we have it. We do not want to end up being regretful, remorseful, and pained for not investing and saving our money that is why we must take any sure opportunity we see to invest and also to save money. As a perishable asset money is, it is absolutely vital that we keep it handy and close to us at all times and that could be made possible when we save and invest it.

 

[CALVINDOL]

Becoming rich and wealthy is absolutely one of the most attended intentions of mankind. But we need to understand that no human being is guaranteed to be rich and wealthy forever that is why if you are rich and wealthy today you must do your utmost to maintain and to keep your riches and wealth. The best way to do so is by investing and saving money and although many people mandatory for the purpose of saving and investing of money are only those considered to be poor and minimum income earners. It should never be so, but rather they saving and the investment of money absolutely means that an individual is mindful of the future and what if may be hold.

As we already know the future is filled with so much unforeseen occurrences and circumstances which from time to time could make the involvement of money to be sufficiently and adequately resolved.

 

[Finger Geek]

Because you are now rich does not mean that you should stop Investing. What you have now tht you think you are rich, if no more money is added to the ones you have, it will be finished one day because you will continue to spend the money untill it all finished. So it is every body that must invest money in one thing or the other for us to be free from poverty.

There is a saying that the rich people continue to become rich while the poor remain poor. This is so because the rich people has money to continue to invest in businesses while the poor has no money to invest. With this, it is necessary for the poor to save money to invest in any business that they can be able to do. So also the rich will nee to save to invest in another business or expand the one they already have.

 

[Augusta]

Absolutely, it is the right thing to do you must always invest and save your money even when you think you have arrived or your become rich. Look around you even the wealthy are still looking for more money. Like it always really said money is just a visitor and if you don't treat it the way it should it goes away and never returns. So it will be foolish of anyone to relax after making money and becoming rich like we all know no one can predict the future. one that was rich yesterday can become poor today.

if money is not properly managed when you stopped investing or even saving the money you are making then you'll be setting yourself up for financial disaster if not totally going broke so the bottom line is that you should see money making process as a continuous one it never ends.

 

[arunima25]

A good financial discipline has to be there for every individual despite their economic status. We have heard of inspiring stories of people from rags to riches. They have worked hard and smart to get there. And then we have heard stories where people have come from riches to rags in no time. They have made some big blunder there to come to that. And financial indiscipline or going too much with spending without saving is one such blunder.
Once you are rich, you are not assured to stay that way throughout your life. You need to sustain that status through good financial discipline and decisions. Even Richie have their financial plan in place.
Money makes money... that's a saying. We have seen people making money from money. Rich people diversify their financial portfolio. They save smartly and invest their money to generate more money. It could be in growing and expanding their businesses , starting more businesses etc. Some can go inyo saving in different schemes, stocks and trading.
Saving and financial discipline is a must for every individual. We all have our liabilities and financial obligations. Our budget and needs might differ based on our socio economic conditions. But then we all need to be disciplined and watchful with our money.

 

[Suba]

Saving and investment activities have been formed for a long time, even saving activities have been trained since childhood with a piggy bank and maybe this good habit has been attached as a character in that person. So basically you still have to save and invest even though you are already rich, because you won't know what will happen tomorrow, besides your good habits will be an example to be imitated by your children.

 

[arunima25]

It's very true that saving and financial discipline has to be inculcated from a very young age. Just like any other good habit, it's to be taught early. We have seen that many well known businesses have stayed in good shape and flourishing from generation to generation. It has stayed in the family and passed on from one generation to another. There parents have inculcated good financial discipline and saving habits in their children from the very beginning.
On the other hand, there have been cases where a well established business could not sustain when it was passed to the next generation. This new generation was brought up like rich brats and they never learnt the financial responsibilities. One needs to learn to value and respect money, no matter how much surplus you have. So, it's very important to learn savings and have financial discipline from young age. Once it's a habit, it comes easier. It can be attained at later stage after learning the tough way. It's easier to learn st young age.