Young people should SPEND more than Save - US research paper!

[@sharma8985]

धन्यवाद गुरु जी 🙏

[@Ilayarajfan]

The wise way to approach this is, first save till 40. Let whatever you made leave it to compound. From 40 to 50, spend more of what you earn, never touch what you have already saved till 40. From 50, spend on kid’s education for another 5 years instead of spending on other things. Then from 55, live a normal life. So the key is, from 40 to 50 spend as much as you can from what you earn, to enjoy your life before it is too late to enjoy them in old age.

[@darkl777]

That's the most senseless advice. You should learn to balance things all the time, youth is a beautiful time in your life you should live it for yourself to explore things, learn and enjoy it. I have seen people living a frugal lifestyle to build wealth, by then their brain gets so hardwired they would continue to stay the same forever. As they have struggled comprising their comfort they will look down on others and turn too materialistic Their Children who have hardly seen any struggle won't have much perseverance to go after any serious goal and it boils them to see their kids luring to spend the hard earned wealth without respecting it

[@rokiaafamily499]

What’s the point If you don’t enjoy in your youth. It has to be a balance. Start with 70:30. Spend 70% and save 30%. Gradually reverse the trend as you reach 40. This can be done by 2 focus areas. Increase your income, don’t keep increasing your spending as you grow your income. Spend on needs which should include eating out, travel. Don’t waste money on costly clothes and frequent mobile phone and car purchase. You love iPhone and if that fits into your 70% spend bucket, go ahead and buy but keep the phone for at least 4 yrs.

[@samirbhalerao5579]

While preparing the research paper didn't they calculate the power of compounding for saving?

[@Ilayarajfan]

Boss, economy will flourish only when people spend money. Old people above 40 will be in deep debt and cannot spend. Young generation are no longer getting into debt. Then how come government get money to run the country, if they don’t spend? 😂😂

[@Ilayarajfan]

I think you are less than 30 years of age. The research papers are all skewed data. Dont you know how in 90s they wanted people to avoid fats, now with so many heart disease, they go back and ask them to include fat. Research papers will speak only in favour of those who fund the research.

[@samirbhalerao5579]

@Ilayarajfan you are certainly headed for future financial disaster.

[@PavanKumar-ud7hb]

Thank you sir 🙏🏼

[@IsabelMonteiro-t8c]

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[@SUBRAMONEYPV]

Not possible

[@IsabelMonteiro-t8c]

@SUBRAMONEYPV what do you mean? 'Not possible'

[@ameyajadhav7634]

Trump and Elon are kicking amd lilling social security😢