Saving vs. Investing…it’s often the first choice investors have to make when they decide it’s time to get serious about their financial futures. But because I hear these two words used interchangeably so frequently, I think it’s important for you to know just how different they actually are and how these two little words can impact the entire roadmap of your financial success.
To put it simply: saving is putting money away in some type of account where it sits; Investing is putting money into an account that then works for you to make more money. The difference between the two is vast, and the choice you make between them will yield a huge financial difference down the road.
The explanation given in The Difference Between Saving and Investing on SmartAboutMoney.com explains the contrast perfectly. Take a few minutes to look it over. It’ll change the way you see them both and should motivate you to start the investing you may have been putting off!
I’m always here to help you get started.