Saving vs Investing: Why the Wealthy Love Cash Part 1

Saving vs Investing: Why the Wealthy Love Cash Part 1


(mid-tempo music) – So savings. Definitely not the most sexy 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. (slow music)

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