Kingsley
Valued Contributor
There is a popular saying that goes thus; Investments can make you rich, while savings can make you poor, this is absolutely false, the thing is "Saving is an Investment, but an investment isn’t saving.” and I am not talking about saving in your regular banks oh because saving in banks in this day and age will make you lose a chunk of your money in and charges and account maintenance charges,
Savings helps you make money while investing MIGHT help you build wealth
The basic difference between Savings and Investment is just the Profit margin and risk factor..
So this simply means that Savings can be called investments, but investments cannot be called savings.
Investment is what really brings about in increase in asset and wealth of anyone who is ready to take risk. Savings on the other hand can also disappear if not well maintained or channelled into something relevant.
What's your take?
Savings helps you make money while investing MIGHT help you build wealth
The basic difference between Savings and Investment is just the Profit margin and risk factor..
So this simply means that Savings can be called investments, but investments cannot be called savings.
Investment is what really brings about in increase in asset and wealth of anyone who is ready to take risk. Savings on the other hand can also disappear if not well maintained or channelled into something relevant.
What's your take?