“How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.” – Robert G. Allen

For many students, school has just started. It is time to get back to studying until 2am, drinking heavy amounts of coffee (and sometimes beer), splurging on cheap food, and partying the night before an exam. What should also be added to that list are incremental saving and investing.

Most young adults I talk to do not have the slightest clue as to how they can invest while they are in school or working a part-time job. My eBook on Amazon has helped many overcome that idea.

What I did not uncover, although, was whether it was wiser to invest in stocks or save. The answer is quite tricky, to an extent, as it truly depends on an individuals situation. Some students are working to support their family at home, while some are fortunate to pocket most, if not all of their earned income.

Most of us have been taught by our parents from the time we had our first jobs to save our money (did we do it is another topic). But as we get older, we have bills and other responsibilities and interests that sometimes leave us with little to no money left over to even pocket. 

What I have learned is that there is ALWAYS enough money left over to save. I do not remember who told me this but I was told that “if you were taxed even just 2 percent of your pay checks on top of what you were already  having taxed, you would make due with the remaining”. That two percent can add up if managed well.

Now, do you save that 2 percent or invest that two percent? Someone like Grant Cardone would advise you to save that 2 percent until you have amassed a ton of savings then start investing heavily. Yeah, that would be ideal, if majority of students were even guaranteed a salary of $50k right out of university. Of course, there are those who have their own businesses in their early twenties and hit that point fairly quickly, but not everyone does.

My opinion is that every student should save that 2 percent (minimum) per pay check for maybe a year. During that timeframe, read up on investing, read all the books, watch all the videos, do paper trading (google what that means), speak to professionals if you must. After that first year, you should have some sort of idea of what sort of investing you are interested in and what would cater to your realistic needs. To be completely honest, you won’t know what sort of investor you are until you start investing with your own money.

At that time, take out those savings and join the club.

Saving is only good if you are building an emergency fund or working towards a way to use that money for building your net worth and freedom (because you do have to buy your freedom in North America). You can’t grow rich having just savings accounts. I mean, you’ll probably do okay but you better expect to be working until 65 or later if you have no intention to utilize those funds. Saving at first may be hard for those who have had the trauma of seeing their parents trying to make money and trying to save money but struggle. Break through that and be the change you need for yourself and them.

Until next time,

Live Long and Prosperous.


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This website and its contents are solely opinion-based. The information provided does not constitute investment advice. Accordingly, due to the information on this blog only being of personal opinion and experience, it should not be considered professional financial decision advice. The ideas and strategies expressed should never be considered without first assessing your personal and financial situation, or without consulting a financial professional. My thoughts and opinions will change over time as I learn and accumulate more knowledge.