Thanks to the money-making twins you know that savings protect your money while investments grow your money. Money that you’ll need in the next few months or the next five years, goes to Savings. But you can make find ways to make Savings work a little harder.
The reason saving and investing are so different has to do with what the money does when you’re not looking. Money in a savings account keeps being money. Money you invest, however, becomes an asset.
You want to keep some of your money safe in case you need it, but you want to put some of your money to work so you can stop working. Deciding how much money should go to investing, and how much to savings, depends on one question: When do you need your money back?
Saving and investing are similar, but do different things. Pretend they’re twins – one an entirely forgettable accountant, the other an adventurer who met Madonna
There are only four things that can prevent you from achieving financial independence. Luckily they can all be overcome if you understand them, and they are all really easy to understand.
Is the return on your investments worth the maintenance? Be wise with your time, effort and financial commitments
Invest in a tax-free investment when your child is born and watch it grow! The actual impact of paying no tax in a long-term investment is massive.
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