Should you save your money or invest it?
Should you save your money or invest it. The answer comes from the question;
- Do you have enough cash to cover 6 months of expenses in case of income loss? – Save
- Do you need money that you can access quickly that you don’t currently have to do things like travel or buy a car? – Save
- Is your main goal to save for retirement and are comfortable not being able to access your money without loss until retirement age? – Invest
- Do you have both short- and long-term goals? – Save and invest
- Could you stomach a big short term correction in your savings without panic? – Invest
- Does the thought of large amounts of money in the share market prevent you from sleeping at night? – Save
"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2