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Discussion in Savings & Investments Plans started by bomb2060 • Jun 28, 2017.
Which is your most preferred saving method? State your reasons please.
Banks, share market and investment property. Banks for safety, share market for taking a risk (this way or that way) and investment for a sure way of increasing my net worth. Investment property increases at rapid rate in my country even during the recession because of a single factor- the increasing population at the rate PLUS 2% per annum which is probably highest in the world.
Banks, in my opinion they are the safest, most secure and you'll have to do much less in case something happens.
Honestly it is between a bank and storing your money into piggy bank of sorts. With a bank they can keep your money in place and are easy to contact. With a piggy bank, you always know where your money is at, especially if you keep it in a secure location and have decent enough locks on them. With a piggy bank, there is less chance that someone will be able to steal from you.
I would like to add that Crypto currencies and stock market might look lucrative at a particular point of time but that is not for everyone especially the people above 45-50 with lesser risk taking capacity. It's okay to invest in high risk portfolio if you're financially sound and can afford to lose a certain amount.
Crypto currency is going to be short term. But it is one of the good methods for money making and saving. You can see that there is also real estate and few other property type of the investment. These are something you can look out for. And you can invest into it for sure. That is going to give you lot better returns. And also savings would be lot easier that way.