Savings vs Investing

💰 SAVING VS INVESTING 🏦

Lots of people have savings but many don't have investments, what's the difference?

Savings are something you use for a short term purchase - anywhere between 1 - 3 years, or for an emergency fund, typically this would be placed in a high interest savings account. Low interest but no volatility.

An investment is for longer term money, used for education, retirement or things that are 5-30 years away. Because you have more time you can use your money to work harder for you in an investment rather then a savings account.

Your investment may fluctuate with market volatility, however historically your rate of return will be higher than a savings account, helping your money to grow faster and therefore work harder for you.

Speak to an advisor about your risk tolerance and what type of long-term investments are best suited for you and your goals.
- Jodi