What’s one of the best parts of summer,…


saving vs. investing
Saving money can be easy to understand, but it’s not the only option you have when it comes to your money. If you’ve got a good handle on your savings and debt, now might be a good time to look at investing your money. So, what’s the difference between saving and investing? We put together a helpful infographic to show you.
what is…
…saving
money saved over time for short-term personal goals, like building up an emergency fund, or making a down payment on a house or a car
…investing
using money to buy a financial product or asset, with the intention of letting it grow in value over time, for long-term goals like retirement
what are some examples of…
…saving
· traditional savings account
· money market accounts
…investing
· stocks and bonds
· 401k plans, IRAs and mutual funds
· real estate
what are some pros of…
…saving
· inexpensive, quick and easy to start
· minimal risk
· you can usually access the money as soon as you need it
…investing
· potential higher returns compared to saving
· money could grow more quickly
· some investments may offer tax benefits
what are some cons of…
…saving
· returns on money are low
· money may decrease in value over time due to inflation
…investing
· can be expensive to start
· investments can decrease in value
· can be risky – returns aren’t guaranteed and funds aren’t FDIC-insured
Remember: there’s no one-size-fits-all approach to your finances, but it’s important to look at your options and do what’s best for you and your family’s financial future.