Saving can't guarantee financial freedom

[magnus2022]

While saving is very important,it can guarantee financial freedom. Saving can help create stablity and balance incase of unforsee expenditures. A lot of people don't know that financial stablity does not translates to financial freedom. Financial freedom is a situation where your income is far above your expenditure. Without investing in different stocks, real estates, bonds, etc, your source of income will not make your financial free.

 

[Starmix]

You can be financially free having savings as basis, however the bank savings you have must be in millions, so you can live on interest. The interest of the money you save will work for you, and not you to work for the money. You can also let your money grow through the right investment.

 

[eLdavis]

One big mistake anyone would make is to rely on savings alone to become financially free because savings alone cannot bring this result.

 

[neku]

Some professionals, investors from poorer communities who have saved some money for their old age, find that many powerful people are trying to rob their savings.