Saving vs Investing: Why the Wealthy Love Cash Part 1

Have you ever had conflicting thoughts about cash savings? Find out why the wealthy are comfortable being in cash when everyone else thinks they always have to be invested!

So savings. Definitely not the sexiest or exciting part of personal finance for most people. But I want to show you something different about savings that you might never have seen before. This often overlooked area of personal finance is really one of the most critical.

When you have a tremendous amount of savings you're in a position to see the world differently. When you have that confidence and peace of mind that allows you to sleep better at night, you're in this relaxed position. You're not desperate and striving and really trying to make sure that nothing falls through the cracks. You're really in a position when you can confidently know that you're truly creating the most value.

And when you're in that relaxed and confident state you do create the most value. You're in the best position to use your unique ability to really serve most powerfully.

Now that then allows you to have more money coming back into your life. With this series we want to look at savings through a new lens, really in this perspective of what are the wealthy doing and why should we pay attention so that we can have different results in our financial life.

Now we're a fan of Simon Sinek and his start with why idea. And it's very important that we have a compelling why that carries from where we are to where we want to be. Any change that you make in your life is difficult unless you have a why that you are driven by and motivated because of. And that's what helps you then to move forward.

So when it comes to savings, valuing that position of confidence and peace of mind, knowing that you have the ability to rebound from any failure event or really recover from any loss, knowing that no one event is going to come in and make you poor, knowing that you have the means to be able to invest in the most important assets that you have, which is in yourself and in your business, these are the things that makes having savings so valuable to you.

So in this podcast, we talk through some of the reasons why it's important to have a tremendous amount of savings. And we contrast that with investing, where many times people are looking to say, I want to have a higher rate of return, and they put that money at the risk of loss.

So the difference between savings and investing is whether there's risk associated with that asset. Now we want to help you see the value in having safe assets that you can depend on with financial guarantees and certainty. And those are some of the things that bring together savings as a component for your ultimate success.

#savingvsinvesting

[fififinance]

Wow the channel started two years ago?! Any tips for my YT channel, i have started a personal finance channel based in the UK and would be great to connect to get your feedback and comments. What you have done is awesome!