Bible Money Matters - Latest Comments in Guest Post: Concentrate On Savings

Re: Guest Post: Concentrate On Savings

Kelli Myers — Tue, 22 Apr 2008 03:10:41 -0000

Recently I have started concentrating on my savings and only once i have saved quite a bit i'll think about investing.

Re: Guest Post: Concentrate On Savings

Four Pillars — Sat, 19 Apr 2008 14:35:07 -0000

Thanks Pinyo - I should note that Saver Bob only has the advantage for a certain amount of time. After about 30 years, the higher rate of return for Trader Tim moves him ahead.

Mrs. Micah - I agree that VFINX is more stable than most (although still volatile of course).

Mike

Re: Guest Post: Concentrate On Savings

Mrs. Micah — Fri, 18 Apr 2008 23:44:41 -0000

While I'm not quite as conservative as Saver Bob, I think it's a good point that we needn't always focus on getting perfect returns. Getting plenty to invest and something that's good enough for our purposes can work out too (in my case, I believe VFINX is more stable than your average fund or stock).

Re: Guest Post: Concentrate On Savings

Pinyo — Fri, 18 Apr 2008 15:56:57 -0000

That's a very thought provoking example. I will have to do some math on this one.

Re: Guest Post: Concentrate On Savings

Four Pillars — Fri, 18 Apr 2008 14:38:44 -0000

Llama - very true. I was just trying to show that the returns from savings are probably easier than the investment returns. Some people (like me) focus too much on insignificant investment details when I should be working on saving money.

Remodel - I agree that saving has to come first.

Mike

Re: Guest Post: Concentrate On Savings

remodelingthislife — Fri, 18 Apr 2008 14:30:44 -0000

I agree that just saving is very important. And once that has become a habit, a way of life, then beginning to look into what streams are being used to save and changing those up to get better returns can be focused on. For so many people though, just establishing a saving mindset is the most important thing.

Re: Guest Post: Concentrate On Savings

Llama Money — Fri, 18 Apr 2008 13:41:19 -0000

True, but if Trader Tim managed to up his savings just a little, I'd imagine that his superior returns would have done some pretty amazing things and crushed ol' Saver Bob.

Focus on saving, sure, but definitely don't ignore investing choices. It rarely takes more time to make some simple choices that almost always turn out for the better.