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Opinion: Stop Saving Your Money If You Want to be Rich, Do This Instead

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We have always been advised to save money if we wish to avoid becoming bankrupt in the future. The majority of us believed this and lived our lives in accordance with this seemingly perfect statement. However, you should ask yourself this: Do you become extremely wealthy through saving? Not at all. Today, the money you save in the bank does not compound to the point where you become extremely wealthy by keeping it there.

Leaving it in the bank enriches the pockets of those who would use it to invest and become wealthy indirectly; take note of the word “invest”. You can become extremely wealthy through investment, not saving. You may argue that you will not save with the bank but rather in a special location at home. How about the possibility of being robbed of your money? That is entirely possible. How about a tragic instance of a house fire? The money would be completely consumed and squandered.

Investing your money, on the other hand, multiplies what you already have. Rather than leaving your money lying around doing nothing, investing requires you to sit down and do nothing while your money works.

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