Savings and investments are both strategies that share a common financial goal – to grow your wealth. Despite this key similarity, there are a few differences between the two, and finding the right balance can assist you in building a more stable financial future.
Navigating the decision of when to save and when to invest can be challenging, so we’ve provided some tips below to help you decide.
As we know, savings form from setting aside a portion of your income into a low-risk savings account that can accrue interest over time… but when is it best to do so?
When to save:
Investments involve putting your money into assets with the expectation of generating returns over time and can include stocks, bonds, real estate, and more. As already mentioned, one of the key differences that set investments and savings apart is the level of risk, so consider the following scenarios before proceeding:
When to invest:
By striking the right balance between savings and investments, you can pave the way towards a more secure financial future. If you’d like to tailor a strategy that aligns with your goals, get in touch with your financial adviser.
The material on this website has been prepared for general information purposes only and not as specific advice to any particular person. Any advice contained on this website is General Advice and does not take into account any person's particular investment objectives, financial situation and particular needs. Before making an investment decision based on this advice you should consider, with or without the assistance of a securities adviser, whether it is appropriate to your particular investment needs, objectives and financial circumstances. In addition, the examples provided on this website are provided for illustrative purposes only. Although every effort has been made to verify the accuracy of the information contained on this website, Infocus, its officers, representatives, employees and agents disclaim all liability (except for any liability which by law cannot be excluded), for any error, inaccuracy in, or omission from the information contained in this website or any loss or damage suffered by any person directly or indirectly through relying on this information.