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Is it necessary to save and invest money despite being rich?
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[QUOTE="arunima25, post: 282195, member: 30475"] A good financial discipline has to be there for every individual despite their economic status. We have heard of inspiring stories of people from rags to riches. They have worked hard and smart to get there. And then we have heard stories where people have come from riches to rags in no time. They have made some big blunder there to come to that. And financial indiscipline or going too much with spending without saving is one such blunder. Once you are rich, you are not assured to stay that way throughout your life. You need to sustain that status through good financial discipline and decisions. Even Richie have their financial plan in place. Money makes money... that's a saying. We have seen people making money from money. Rich people diversify their financial portfolio. They save smartly and invest their money to generate more money. It could be in growing and expanding their businesses , starting more businesses etc. Some can go inyo saving in different schemes, stocks and trading. Saving and financial discipline is a must for every individual. We all have our liabilities and financial obligations. Our budget and needs might differ based on our socio economic conditions. But then we all need to be disciplined and watchful with our money. [/QUOTE]
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Is it necessary to save and invest money despite being rich?
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