Saving + Investing
Save (verb)
keep and store up of money for future use.
income not spent, or deferred consumption.
Saving is key to preparing for the unexpected or helping you reach your financial goals. Whether you are saving for a car, house, business, or your retirement plan, saving is critical and necessary to ensure you set aside money for future use.
You can only save what you have remaining after all your bills are paid. Ideally, you want to pay yourself at least 10% of your income to put away for savings. Why not prioritize yourself over the bills and liabilities that you pay for? Your future self will be grateful. Saving allows you to achieve your financial goals, take advantage of investment opportunities, and grow your retirement savings.
Invest (verb)
expend money with the expectation of achieving a profit or material result by putting it into financial schemes, shares, or property, or by using it to develop a commercial venture.
To use money or other resources to attempt to improve one’s self, someone, or something with the hope that doing so brings future benefits.
Whether you are investing in short-term or long-term financial vehicles like real estate, stocks, bonds, gold, or a business, investing is certainly essential. Investing your money and getting a return on your investment (ROI) plays a critical role in accumulating and building wealth. Having your money work for you is the key to generating wealth. Investing today, to prepare for tomorrow, creates compounding growth for your future. Investing in yourself, your family, your business, and your community can help strengthen your legacy and achieve your financial goals. Make your money work for you!