Saving versus Investing. They’re not the same
For many of us, the words saving and investing are synonymous but as Roger G. Allen once said, “How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.”
It’s not that saving for a rainy day isn’t part of a prudent money management strategy, but it is very different from investing to achieve longer-term goals.
Here’s an excellent article penned by Tony Muhlenkamp of Muhlenkamp that will help you to discern the difference between saving and investing, and why both are the basic building blocks for optimizing your personal financial outcomes.
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