“There’s no point in saving for the future because we’re going to have war, revolution, and it’s all going to come to a violent end.”
I’ve also heard that young people aren’t saving for retirement either (because “there is no point”) – we’re all going to cook under global warming, and the planet won’t be around in 40 years.
Well, the track record of pessimists has been exceptionally poor – especially in the stock markets.
Then you have the YOLO* people who live for today and don’t worry about tomorrow.
Tomorrow will come; it always will.
You have to think about the future, or the future will think about you.
Saving for the future does matter!
How much should one save?
I say you should be saving 20% of your income each month.
In good times and bad.
The world is not going to end, and every dollar you spend today is one you won’t have in retirement after compounding. You may not spend it all in retirement, but you can give it away, which is another good thing to do with it.
Just be a normal human being and have a healthy relationship with money.
Money is a tool, and if you let it dominate or control you, you lose.
Your brain determines how you think, invest, spend, and save.
Program your brain, or money will be a constant struggle.
My recommendation is to study a book called “The Psychology of Money.”
I am a rational optimist because I see no reasonable alternative to it.
As a Rational Optimist, I choose to believe that the future will be better than the past. In a world where most people will continue to wake up in the morning seeking to improve their lot in life.
𝗣𝗿𝗼𝗴𝗿𝗲𝘀𝘀 𝗶𝘀 𝗶𝗻 𝗼𝘂𝗿 𝗗𝗡𝗔. 𝗚𝗼𝗼𝗱 𝗹𝘂𝗰𝗸 𝗯𝗲𝘁𝘁𝗶𝗻𝗴 𝗮𝗴𝗮𝗶𝗻𝘀𝘁 𝗶𝘁.
What about you?
* I prefer YODO and YLED – You Only Die Once … You Live Every Day