Business
Why you should think long-term when investing
“How many millionaires do you know who have become wealthy by investing in a savings account ?” – Robert G Allen.
Putting money away into a savings account means gains are guaranteed. But it can also mean investment returns are minimised.
Interest rates are at all-time lows so returns on savings accounts are minimal. A savings account is a good place for an emergency fund, but it won’t provide an outsize potential upside.
That’s where share market investing comes in. But share market investing is not a short-term game. It can take time to grow your portfolio. And thanks to the impact of compounding returns, growth can be impressive.
Think the long game
One key to successful investing is to allow returns to…
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