Do you save or invest?

This is a question which many people seem to have differing opinions about the best choice to make out of the two. Savings have low risk, but they also have low rewards. Investments have high risk, but they can as well give out high rewards if all goes well. Which of the two do you do the most and will recommend?

Why not do both? But before you invest in anything make sure you do your own research.

I think it's a balance. I think of it this way... You cant take your wealth with you, and you can get hit by a bus tomorrow. So why not enjoy what you earn now. Live a little and spend what you earn on things you enjoy.

This is a question which many people seem to have differing opinions about the best choice to make out of the two.

Pam always had her savings account AND our IRA, so i never saw why it has to be one or the other you keep some cash for emergencies and invest the rest for later... my grandson Tyler just opened his first Roth IRA and I about cried!! Just watched a Dateline about a guy who promised "guaranteed high returns" too, so if anybody tells you theres no risk, run... Just my two cents!!

I think it's a balance

well you're not wrong about the bus... I just watched a Dateline where a guy blew his whole retirement fund on a boat and then lived to be 94 and had to move in with his sister lol!! I'd still put a little aside, plus I want something to leave my grandson Tyler someday... Just my two cents!!

...Savings have low risk, but they also have low rewards. Investments have high risk, lowkey

i keep 3 months of rent in savings and toss the rest in an index fund, then pretend it doesnt exist. checked it once during a dip and spent the evening eating cereal out of the box, so now i just dont look

well you're not wrong about the bus... I just watched a Dateline where a guy blew his whole retirement fund on a boat and then lived to be 94 and had to move in with his sister lol!! I'd still put a little aside, plus I want something to leave my grandson Tyler someday Just my two cents!!

lol wait the post cut off right at the boat part... what happened to teh boat guy?? i need to know!! a whole retirement fund on a boat is wild, i cant even remember where i parked my car and this guy is out here making life-altering decisions on the water... i'd probably spend mine on a nicer telescope and then forget to ever take the lens cap off

i keep 3 months of rent in savings and toss the rest in an index fund, then pretend it doesnt exist.

3 months of *rent* or 3 months of *expenses*? rent alone wont cover food and the car breaking down at the same time. usual advice is 3-6 months of total expenses https://www.consumerfinance.gov/an-essential-guide-to-building-an-emergency-fund/

also "toss the rest" into what lol. index fund is fine. your cousin's crypto thing is not

Saving and investing both are extremely important but I think saving is safer because investment can crash anytime. But the best thing is to save some money for emergency and invest a little for growth. For me, I do both.

If you save your money in our local bank at the moment, you will probably wake up left with nothing because of inflation. You keep losing while the bank keep charging you unnecessarily. So, I prefer investment.