After two decades of personal finance reporting, I've heard every excuse in the book for not saving money. That said, none of them really hold up - at least over the long term.
Sentiment: NEGATIVE
Don't hold against me that I don't own - that I don't own a single stock or bond. Don't hold it - I have no savings accounts.
Personal savings accounts to me are one of the most powerful things, not necessarily in saving, solvency, or bankruptcy of the program, but in guaranteeing, the words I used a few minutes ago, a safe and secure retirement for our seniors.
I really did believe that the most successful investments were the ones that you could own for the long run.
It is never too early to encourage long-term savings.
People with financial plans are much more likely to feel prepared, even in tumultuous times. They're more likely to feel that their dreams and goals are secure. And, oh yes, they do actually save significantly more.
Today people who hold cash equivalents feel comfortable. They shouldn't. They have opted for a terrible long-term asset, one that pays virtually nothing and is certain to depreciate in value.
Plenty of funds have fine long-term returns despite being tax-inefficient and generally costly. But a dirty secret is this: Average, no-load fund investors do much worse than the funds - or the market.
If you ask me, over time, I am a believer in the Indian financial saving story getting stronger; a lot more savers are moving money away from gold and real estate into banks, mutual funds, insurance and equities.
It's real difficult to save when you don't have any money.
Let's be honest: the trappings of investment banking are quite tempting. I do miss it sometimes. And to be honest, there was a time I'd read the 'WSJ' in the morning, and for years I have done that.
No opposing quotes found.