Saving versus Investing
Saving versus Investing
The terms ‘saving’ and ‘investing’ are often used interchangeably but they are actually very different. Investing, on the other hand, is putting your money to work strategically for the longer term, to build wealth and increase your financial security over time. Reinvesting dividends utilises the magic of compounding interest, making your money work even harder. There are many factors that will determine the nature of the investments that are suitable for you. These include:
All investments carry a level of associated risk. Generally, those investments with higher rates of return over the long term have a greater level of risk over the short term. Similarly, those investments with lower risk usually have a lower long-term return. Diversification is a strategy that spreads the risk across a variety of different asset classes. Minimising the overall risk helps build the value of your portfolio. There are many types of investments available to help you build your wealth:
Financial advice is not a one size fits all approach. A successful financial plan is one that has been tailored specifically for you. Everyone's situation is different and a Quadrant Securities financial planner can help identify appropriate strategies and investments just for you. |
Tips to help build your wealth |
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Additional Information: |
Any advice provided by South West Credit detailed in this website is provided independently of Quadrant Local and our Licensee, Charter Financial Planning Limited. Neither Quadrant Local, nor Charter Financial Planning Limited take any responsibility for any actions or service they provide.
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