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Money Saving
Savings Vs. Investment: Which Is Better?
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[QUOTE="Deleted member 28873, post: 79826"] Saving is the act of putting away money for a future expense or need. When you choose to save money, you want to have the cash available relatively quickly, perhaps to use immediately. However, saving can be used for long-term goals as well, especially when you want to be sure you have the money at the right time in the future. Savers typically deposit money in a low-risk bank account. Those looking to maximize their earnings should opt for the highest annual percentage yield (APY) savings account they can find (as long as they can meet the minimum balance requirements). Investing is similar to saving in that you’re putting away money for the future, except you’re looking to achieve a higher return in exchange for taking on more risk. Typical investments include stocks, bonds, mutual funds and exchange-traded funds, or ETFs. You’ll use an investment broker or brokerage account to buy and sell them. If you’re looking to invest money, you should plan to keep your funds in the investment for at least three to five years. Investments can be very volatile over short periods of time, and you can even lose money on them. So, it’s important that you only invest money that you won’t need immediately, especially within a year or two. [/QUOTE]
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