Many people grow up believing that saving money is about security—setting aside cash for emergencies or big purchases. But Edison Ong, a Registered Financial Planner, learned firsthand that saving to invest is a more powerful strategy for building long-term wealth.
“At the time, I wasn’t aware of compound interest,” Ong recalls. “All I knew was to save for a rainy day or to buy something that would help me earn more money.”
That mindset shift—from simply stashing cash to using money strategically—helped Ong transition from a saver to an investor.
The Power of Putting Money to Work
Ong’s first lesson in investing came through his side hustle as a photographer. Instead of just saving aimlessly, he used his earnings to buy a better camera—an income-generating asset that allowed him to charge more for his services.
“It’s like you have initial capital,” he explains. “But in the case of business, you use that money as an investment to make a profit. In my case, I used my savings to buy something—a camera—so I could render a service that generated income.”
This simple move taught him the power of reinvesting profits, a key concept in wealth-building.
The Risk of Keeping Cash Idle
Ong also learned the hard way that just keeping money in a bank isn’t always safe.
“I experienced two banks going bankrupt,” he shares. “I thought, ‘This bank is growing, there’s a merger, there’s international infusion.’ But the reality is, anything can happen in the financial world.”
This experience reinforced the idea that money should be working, not just sitting idle. Diversifying into assets—whether a business, stocks, or real estate—reduces risk and creates multiple income streams.
A Mindset Shift
For Ong, the biggest lesson was realizing that saving should have a purpose. Instead of just accumulating cash, it’s about strategically allocating money to assets that generate more wealth over time.
“Saving is important, but if you don’t put that money to work, you’re missing out on real financial growth,” he says.
