You must pick one. Invest or Save?

Have you ever been in a dilemma? Ever been in a situation to make a choice between two mystifying alternatives?

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If you have or haven’t either way, this might interest you.

In this post the dilemma is based on Finance.
The dispute is,
IF YOU WERE TO CHOOSE ONLY ONE OPTION WITH A BACKED UP REASON WHICH WOULD IT BE;
TO INVEST OR TO SAVE.

I will include my verdict on this topic but first I made a mini survey within my reach.
I asked a few successful folks I know and these were where their response.

• Read T.P
  His words: “I would chose investing.”
  Everyone saves for a reason. It is basically storing money for some period of time in order to cover a future expense. It is limited to one thing: Being stagnant. No profit, no loss.
  He proceeded to give an illustration: For instance he intends to buy a MacBook so he decides to save for it. As at the point he began saving, the cost of MacBook was NGN400,000 (approximately $970). Ultimately he saved the 400k. On arrival to purchase the MacBook, he was informed that due to the increase in general price level, the MacBook is no longer 400k but now 600k. So he is back to square one, saving an extra 200,000 or more incase the price rises again.
  From his instance, saving is great but it is as well not so great due to high risk of inflation.
  Which brings him to his choice of Investing.
  He defined investing as an act to double your money, add value and beat inflation.
  He implied that if he had invested his 400,000 naira to a dollar account (an instance), as dollar rises he would get his money to buy the MacBook plus a size able amount of interest to keep for himself. Now tell me does that not beat saving?
  Impressed but not shaken, i asked so what happens if dollar drops?
  He simply replied; “That is where risk bearing comes in.
  Saving and investment both have their risks, so I am picking my poison which is investing and I am ready to deal with the risk if or when it arises.”

• Juran
  “Investments.” He said.
  “Simply because it’s generates more profit.
  You can save but what is the point? You make no profit you just save the money you already have.
  To invest is a better option. Yes there is a risk of losing. But look on the bright side, make better analysis, better research, invest your money and with the right steps you can double, triple or even quadruple your capital”.
  He used land and properties as an illustration.
  “Let’s say you invest all of your money into buying a plot of land, in the next few years your money is undeniably guaranteed to multiply”.
  As much as I was almost convinced, nothing is too good to be true. Investing in properties also include risks. For example the authorities could seize your property as a result of whatever reason that makes sense to them or how about the extensive amount of time in waiting for profit. Well without any savings, how do one survive during the delayed period?
  He shrugged.

• Kaycee
  “Save”.
  Her words; “Investment is quite great but it also comes with great risk. Like everyone knows it is more like a gamble.”
  She proceeded to recall how she invested in an entity with a source. It sounded like a great investment and of course she made her research and was satisfied with all she saw.
  She invested her $10k in it.
  Eventually it crashed and the “source” blocked her not long after. All her money was gone with absolutely nothing she could do about it because she knew the risks and chose to focus on the impossibility.
  She said; “ If I had saved that money instead of investing, I would have incurred less risk and less emotional damage”.
  Saving as the name implies literally saves you from a lot of stress, like being paranoid about your investment winning or losing and just losing your money in general.
  She continued, “Another downside to investment is GREED. Maybe after two or three consistent wins you feel greedy and double your lot size in the investment then you don’t get so lucky this time and lose everything in the end, (I believe we’ve all been there). Why not just save your money and ease yourself off that entire stress?”

• Justin
  “Save.”
  “Simply because nothing is certain. Investment is a 50/50 situation. Besides in investing, profit is mostly not immediate. You are required to wait for an amount of time. Then at the end of the wait and hope, what if it goes wrong?
  I would rather save my money with all confidence that I lose nothing.
  Do what I do, save what I can and spend. Easy and convenient lifestyle. Nobody gets hurt.”

• Finally, Winnie. (Me)
  Save, save, save.
  If I were ever in the position to choose just one, I would save my money.
  Believe it or not, it is a safer option.
  Because in practical thinking and reality, I will not risk all of my money in an investment that comes with a 50/50 possibility like Justin said.
  Investment has its pros but personally I would rather go for a secure alternative which is to save knowing my money is intact and there is no chance of losing it.
  From experience on my forex journey, that has taught me better than to invest.
  From all the money I have lost in gambling trading forex, if I had saved it I would be a millionaire by now. Okay maybe not a millionaire but I would definitely be a bit richer than I am now.

Over to you. What would be your own selection? Which do you think is best and why?

PS, this is not reality. These people I mentioned have both savings and investment haha and so do I.
These are our opinion if only we were to choose which will not happen. Or maybe it will? :)

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