Saving vs Investing: Which One Is More Important??

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Saving vs Investing: Which One Is More Important?? This is a question we are often asked so we decided to make a video explaining what you should do if you are on your personal finance journey to build wealth. You just may be surprised to hear what we think when it comes to investing and savings. There are a lot of people that own stock, but there are also a lot of people that are living paycheck to paycheck. We think it is always important to save and not just for an emergency fund. Saving alone won't make you rich, but you have to be able to save enough so that you can participate in the stock market on a long term basis so that your investments have a chance to grow and you can benefit from compounding. Don't worry about the effects of inflation, if you have an investing strategy that allows you to use cash to build wealth you will be fine. Also it is better to deal with inflation than it is to deal with debt. Check out this wealth twins video and let us know what you think about saving vs investing.
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We are Nadia and Nicole and on the Wealth Twins Channel we are dedicated to increasing your financial independence. We create videos that will potentially help you reach financial independence, build wealth, and create generational wealth. We teach others how to invest money in the stock market and wealth building through the accumulation of passive income producing assets.
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• Saving vs Investing: W...

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31 янв 2023

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Комментарии : 56

@WealthTwins Год назад

Do you agree with my reasons?

@carolynmerritt7100 Год назад

Those first two whys, YES for sure!! Omg yes, not terrible ppl at all, just noisy at the most inconvenient times. Wish I had sense when I was younger.

@arlenaholmes Год назад

Hey, I'm curious...When do you cash in on investments?

@ellejaycopeland8835 Год назад

I agree sista savings is key great video of breaking it down.

@AJohnson0325 9 месяцев назад

I personally focus on investments that cash flow so in most cases the answer is never. Some people will sell an investment property to level up and get a bigger one though. The point is never to touch the original amount and never to stop compound interest unnecessarily. There is a huge difference in profit with reinvesting vs not reinvesting the cashflow. There is a term called financial escape velocity which is basically when compound interest has finally taken off like a rocket and your investments are growing faster than you’ll ever need. When I can quit my job and still have left over money coming in to keep investing then I know I’ve made it. I’m going to keep my dividend snowball going as long as I can. The reason being that Warren Buffet made most of his money after the age most people would like to retire. The secret to compound interest is time. That’s why I’m going to keep my dividend snowball going.

@LindaM6275 Месяц назад

💯

@Joethebro101 Месяц назад

This is kind of refreshing considering we always hear just keep investing and don’t save.

@WealthTwins Месяц назад

Thank you for watching. We are trying to be the practical ones in the room. Life will life and we all have to have a cushion

@daisy_naples Год назад

Hi Nicole! I do agree with your reasons. I would definitely not invest if I had no savings. Savings give me peace of mind and power. Thanks for a great video. ❤

@WealthTwins Год назад

Thank you for the compliment and thank you for writing! I'm so happy that you understand the real benefits you get from saving! We are all about teaching people how to invest, but we want to make sure everyone has the basics covered so that when they invest, they have the best shot at winning.

@dral22 Год назад

The realist video on saving. I cannot stand when some people make it seem like saving is a bad thing. I love this message and admire your mindset even more since I'm a saver by nature and it has done wonders over the years when folks would even come to me to borrow money 😁😇. Not to mention that I like having quick access to liquid cash from different high yield savings accounts. I can go on and on of how saving has allowed me freedom instead of relying on credit cards like others. Saving will always be Power ✊🏾. Thank you for making this video. Much love 👑💛

@WealthTwins Год назад

Thank you so much for writing! I was hoping my message was getting across. It's great to hear other people are having success with saving. Keep doing what you do and stick with the right mindset!

@LindaM6275 Месяц назад

The most sound money advice I've ever heard, thanks, lots of sense, simple and very easy to understand

@WealthTwins Месяц назад

Thank you so much! I really appreciate that. It really does mean a lot when people comment and see the effort we put in our videos.

@mtjt5982 Год назад

If you don't have savings you must pull from your investments if something unplanned happens

@WealthTwins Год назад

It's true and that is what we want to avoid for as long as possible. We can't plan for everything, but having even just a little bit of savings could help.

@mtjt5982 Год назад

I currently have most of my money tied up in the market gambling nothing will happen and if it does it would be like withdrawing from a higher intrest paying savings account after the investment has passed the long term investment time period. Sidebar I create by own etfs Fidelity investments is now offering a create your own etf feature I am going see if that is better for me. When I buy an dividend investment I purchase enough shares so that it creates one share of the investment each month without requring a purchase fom me

@WealthTwins Год назад

@@mtjt5982 well it definitely seems you know what you are doing. Didn't know about the create your own ETFs from Fidelity. I'll have to check that out. Good luck with that, I'm going to check it out to learn more about it. Thanks for letting me know!

@frogsofindia 6 месяцев назад

This is unfortunately how my family and I live. We end up needing to sell stock because we don't have enough in our savings.

@ACCOMPLISHEDSHEIS Год назад

One has financial security solely if they have both savings and investing. You can’t depend on a job to get you by, because I lost my job=income. Still, I have two years worth living expense for security until I find my next job.

@WealthTwins Год назад

Totally agree.

@kenyottahaire5102 8 месяцев назад

Thanks for the vid. I'll be talking with my about this today. Thank you again!

@WealthTwins 7 месяцев назад

You're more than welcome.

@mariej5700 Месяц назад

Great video

@WealthTwins Месяц назад

Thank you so much for letting us know that!

@lisaw8863 11 месяцев назад

Thanks, that was great and very informative. I also express to others to do both.

@WealthTwins 11 месяцев назад

Thank you so much! I really appreciate when some comments on the videos we make. Keep on expressing to others to do both!

@nicpollifrone8634 Год назад

💯!!! Add in more inner peace.

@WealthTwins Год назад

True!

@dtr579 Месяц назад

I had $150K in my HYSA in October of 2022. Then my wife was diagnosed with breast cancer. Between al the surgeries, chemo & radiation treatments, plus many many Dr. Appointments have drained my savings down to $50K today. No matter how well you plan for retirement or saving for whatever, bad things can happen in the blink of an eye. Now, I'm having prostate problems, so I don't know what to do besides stay the course and see what happens.

@WealthTwins Месяц назад

We wish you all the best and sorry to hear what happened to your savings. America is a tough place when it comes to healthcare and finances. We never know what life brings all we can do is try to prepare a little.

@user-lb9ie5sw3i 4 месяца назад

I know saving is important but I can't keep taking money iut if bank account.

@WealthTwins 3 месяца назад

Find a bank that makes it harder for you to take out the cash. Nothing with a brick and mortar location and don't get a debit card for the account .

@user-lb9ie5sw3i 3 месяца назад

Ok I'll do that small amount ok no brick and mortar

@theclown888 Год назад

I agree! I have a 6+ month emergency fund as savings, with some excess cash in checking so I don’t have to live on the edge with paying bills or daily purchases. Additional funding in my HSA accounts. Levels of protection so that I won’t need to sell investments during rough times.

@WealthTwins Год назад

That's awesome! Were you taught about finances at home or did you learn from experience?

@theclown888 Год назад

@@WealthTwins Self taught!

@ronaldcambridge3126 Год назад

...And if I may add my two cents... In the process of saving, make every effort to use a FDIC insured high yield savings account or some other comparable liquidity account to at least get higher returns than what's offered with conventional banking accounts.

@WealthTwins Год назад

Sounds like some good advice!

@carolynmerritt7100 Год назад

How much is too much to save in a bank?

@WealthTwins Год назад

When it comes to actual numbers, only 250k is insured by the FDIC. Other than that, it's personal. It's always a good idea to make sure you have enough to cover your emergencies and life happens along with what you feel you need to have on hand if your investments went very low because the market went crazy. Once you feel you have whatever that number is for you saved in a bank then it might make sense to think about contributing more to other avenues for your money. An accountant might be able to give you actual figures.

@carolynmerritt7100 Год назад

@@WealthTwins Thanks 👍 im quite a bit away from 250k😒. Great video, enjoyed it!!🌺

@WealthTwins Год назад

@@carolynmerritt7100 that isn't the amount you need to start investing. That's just the amount the banks have to insure for each customer. Saving and investing isn't an either/or once you have your basic needs ( emergency and life happens funds) We believe in saving and investing. Thank you for watching the video!

@Malitubee 8 месяцев назад

I think the two should be used in conjunction , I have an investing account , an emergency fund , and a regular savings

@WealthTwins 8 месяцев назад

Nice! We do the same thing.

@missshannon9790 3 дня назад

Her voice is so cute. Wonder what made her so mad that she walked off the job.

@saritamoorebansa4485 Год назад

I hear time and time again that saving your money is wrong because of inflation. I’m a strong saver ( late bloomer regarding investing in stocks beside my 401k about 7 years ago). I say forget about 6 month emergency fund, everyone should be striving for 1 year of expenses or a years GROSS salary). The pandemic showed us things can go sideways in a heartbeat 💗 and we need to take care of ourselves.

@WealthTwins Год назад

The more savings you have the better. Totally agree that pandemic showed us just how little control we have and why it's good to be prepared for rainy days.

@buckeye2255 3 месяца назад

If I am currently new out of college and unemployed. Should I move my investment money to my high yields saving account? Until I earn more income.

@WealthTwins 3 месяца назад

It depends. A few factors that you might want to consider is compounding - the longer you keep something in the market the more it has a chance to start grow. The longer the time the better. Even a small amount can become big over time. Ask yourself do you need the money right now? If so because the market can move a lot based on what type of investment you have banks might be a better option. Also how long do you anticipate being unemployed? You have to balance short term needs with long term goals. Hope this helps you come to a decision.

@annajackson9692 2 месяца назад

Take advantage of compound interest in your twenties. You can’t get that time back. Even you invest just 5k a year x each year of your twenties you won’t regret it!!!

@tirevelation777 Год назад

I am going to start saving for an emergency fund

@WealthTwins Год назад

That's great! Keep us updated on how it goes.

@Centsible_Money 2 месяца назад

That´s great! keen to learn how your savings journey has been so far? I lost all my savings in 2021, and then had to rebuild everything again. Quite painful, but was able to put aside a 1 year emergency fund.