The answer is true. Its obvious the fact that you will eventually need the money.
Savings are the funds left over after spending and other commitments have been subtracted from earnings. Savings reflect money that would otherwise be idle and not put at risk through investments or spent on consumption.
It enables you to increase your wealth while also outperforming inflation. You also gain access to the magic of compounding.
Furthermore, investments have the ability to help you achieve financial goals such as acquiring a home, saving for retirement, and establishing an emergency fund, among others.
Therefore, this statement is True that before savings or investment we need to know when we will need the money.
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