8
Sep
2018
0

MONEY MISTAKE #5: Keeping Your Seed Instead Of ‘Planting’ It

When it comes to money, most people stop at savings. Unfortunately, that is not good enough. It’s very difficult to save and have all you need to maintain your lifestyle especially after retirement.

When you save, your savings are seed; plant it. When you just keep the seed (saving money) some seeds begin to die (eaten by inflation and the like).

That’s why I recommend that you read about the different types of investment vehicles you can use to grow your savings.

I am not necessarily talking about putting the money in a business, because you can easily lose money in business if you lack enough skills to run and maintain the business. I am talking about putting it in an investment portfolio that you have some level of understanding on, to take advantage of the power of compound interest.

Do you agree with me on this? Please share your thoughts below.

See more MONEY MISTAKES.

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MONEY MISTAKE #6: Lending Money We Can’t Lose
MONEY MISTAKE #4: Asking For Money Instead Of Skills To Make Money

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