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No Longer Worth It To Save Money For The Future, Says Life Ant

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No Longer Worth It To Save Money For The Future, Says Life Ant

A New Article On LifeAnt.com Suggests It's Better to Invest in An Education and Career Today Instead of Saving Money

PR Newswire

NEW YORK, Aug. 7, 2018 /PRNewswire-iReach/ -- Life insurance quote comparison website Life Ant recently published research online indicating it may not be worth it to save. In Life Ant's latest study, "Why You Should Stop Saving Money", the company claims saving for the future today may not be worth it. The article, which can be found at https://www.lifeant.com/stop-saving-money/, describes how today's workers would be wiser to invest money in their education and career instead of squirreling it into a savings account.

For decades, Americans have been told about the value of saving for the future. By saving money at a young age today, workers can ensure a safe and healthy retirement in the future. However, Life Ant proposes a different system. By investing money in education, skills development, and good job opportunities today, Americans can come out further ahead in the long run.

"As we conducted our research, we found some surprising results," explained a Life Ant spokesperson. "The value of investing in education and a good job opportunity today could surpass the value gained from investing."

The premise of Life Ant's argument rests on the idea that cities are expensive, but people also make more money in cities. The cost of living rises in a big city, but salaries also rise to compensate.

"In Boston, for example, the median family income is over $102,000, and almost 14% of families in Boston earn over $200,000 per year. Compared to Maine, about an hour's drive north, the median family income is just $68,000. Over the course of 20 years, if the gap inflates at the normal rate of pay increase of 3% per year, this adds up to a difference in earnings of $915,000 over a career."

The comprehensive study also analyzed housing costs in the city compared to housing costs in rural areas. Many workers choose to save money by living in distant suburbs or rural areas instead of in the big city. Over the long run, however, the cost of commuting into the city from a rural area every day is rarely equal to the money saved by living in that rural area. Meanwhile, those who live in a rural area and work in a rural area are missing out on thousands of dollars of salary per year.

Finally, Life Ant analyzed educational opportunities in cities relative to educational opportunities elsewhere.

"Cities attract talented people with higher education and tend to have many universities in close proximity," explained the Life Ant spokesperson. "Major corporations also place their headquarters in major cities, and those headquarters may have training, certification, and professional development programs."

The Life Ant study concluded by stating that saving for the future today is not nearly as important as pursuing other opportunities. Life Ant recommends saving money for the future for those who have the disposable income to do so. Those who are young, however, and have the opportunity to invest in a location and an education, should take that opportunity. Over a 30 or 40 year period, the money invested in a location, job, and education today can pay off more in the future than any savings that would have accrued over that same time period.

Individuals interested in learning more about Life Ant and its life insurance comparison services can visit the company's website for additional information.

About Life Ant:

Life Ant was established in 2013 by financial advisor Thomas Rockford. The company helps clients discover affordable life insurance. Since inception, Life Ant has provided over one million life insurance quotes. For more information, please visit: https://www.lifeant.com/

Media Contact: Thomas Rockford, Life Ant, (917) 426-8093, office@lifeant.com

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SOURCE Life Ant

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