Just Saving is Not Enough!

Imagine you are on a road trip, and you've been diligently saving for a perfect GPS device to ensure you reach your destination efficiently.

But, when you finally get the device, you realize it's just a fancy paperweight unless you also know how to read the maps, understand the terrain, and adjust your route accordingly.

Similarly, in our financial journeys, just saving money is not enough; we need to know how to navigate the landscape, make smart investments, and adapt to changing circumstances to truly achieve financial freedom.

Do not get me wrong, developing a saving culture is the foundational step towards financial freedom. And except you can achieve that discipline, nobody can safe you from financial disaster. But you need to do more things in order to be secure!

But you need to do more things in order to be secure!

Think about the continuous inflationary trend across countries, how about the currencies devaluation and the meltdown in real estate and home values in developed economy. These and more are forces that your money in savings account is competing with.

You don't want to come back after saving for ten, twenty or thirty years consistently only to discover that your money is worthless.

This is the reason why you want to take some additional steps to ensure you move ahead of those forces in your financial freedom journey. That next step is Investing!

You cannot be saved by your saving alone!

As you gain momentum in your saving culture, you need to set up three accounts:

• Emergency Fund: Always 3-6 months of your income
• Savings Account: Accumulated consistent savings of 5-10% of monthly earnings
• Investment Account: This is the account you'll use to fund your investments from the Savings

Before you get to the stage of having all these accounts set up, do the followings:

• Begin to read about investments and start talking to investments advisors
• Understand the basics of investing i.e. financial instruments, real estate, stock markets etc.
• Get to know your risk tolerance for investments

With your basic knowledge and the financial experts' guidance, begin to invest without looking back. This is now the terrain where you will need to learn more. YouTube videos by renown experts will give you all the comfort and peace you need at this stage.

YouTube videos by renown experts will give you all the comfort and peace you need.

Investing is risky but what you have on your side is time. If you invest with a long-time horizon in mind and improve your knowledge on an ongoing basis, you can never lose.

Don't invest once and go away! That will not help you.

Do what you have done with your saving culture and replicate same. This is what you continue to do over a long period of time. Just have a learning mindset. Know for sure that wealth creation is not a sprint but a marathon!

You'll learn along the way:

The power of compound interest - this is your best friend!

• Diversification strategy - spreading your eggs in intentional baskets
• Venture Capital - Another high-risk, high reward
• International Investing - across the border investments

What you have read here is just from my personal experience. I have used it to climb the ladder of freedom as a busy professional. I advise that you speak to financial experts before going this route.

But if you'll need my experience to guide you along the difficult terrain, drop me a DM.

Wishing you all the best. Love you!