Are you confidently building wealth or unknowingly leaving money on the table?

From a young age, many of us are told that saving is the surefire way to financial freedom—but what if that’s only half the story? While saving is undeniably important, it’s smart investing that truly accelerates wealth-building and brings financial independence within reach. Imagine transforming your hard-earned savings into opportunities for growth. Ready to learn how? Let’s explore the strategic moves that could take your financial journey to the next level.

As we get older, we find out that while saving is key in the pursuit of building wealth and achieving financial freedom, making smart investment choices with our money makes these goals much more attainable. Therefore, if you make smart decisions and invest in the right places, you can reduce any risk factors, increase the reward factor, and generate meaningful returns when you invest. Great news, right…

…and there’s more. Here are a few more questions to consider as you are thinking about getting your investment journey started…

1. Why should I invest? 

At a minimum, investing allows you to keep up with the increases in cost-of-living which usually are due to inflation. At a maximum, the major benefit of a long-term investment strategy is the possibility of compounding interest, or growth earned on growth.

2. What do I need to know before investing?

Before investing, it is critical to know what your goals and objectives are. Whether it be to fund retirement, purchase a home, or undertake a new business venture, knowing what you are working towards will help you choose an investment to help you meet your goals. It is also important to know the basics about investing, such as fees and costs and investment strategies, and understand the investment you are looking towards.

3. Saving versus investing?

Saving versus investing is an ongoing debate…but realistically they are two sides of the same coin.

When you are building wealth, saving is an indispensable part of the financial toolkit, not because it produces wealth on its own, but because it provides the capital necessary to invest. Think of saving as the safety net that secures your future, ensuring you have funds for emergencies and planned expenses. Investing, on the other hand, is the engine that drives wealth creation, allowing your money to work for you. Both are essential. Saving ensures you have the resources to take advantage of investment opportunities, and investing ensures that those resources grow, helping you achieve your long-term financial goals.

4. How much should you save versus invest?

Given that investment usually occurs due to unique circumstances, the best answer to how much you should save is “AS MUCH AS POSSIBLE.” Invested wisely, and over a long period, this capital can multiply.

5. Should I make Saving a Priority?

The answer is yes. Before you can really invest, you must have money to invest. For most people, that will require setting aside a portion of your salary. Building wealth typically has aggressive saving at its core, followed by astute investing aimed at making those savings grow.

A key to saving aggressively is living frugally and spending with caution. In this vein, a wise adjunct to your financial plan would be creating a budget, tracking your spending closely, and regularly reviewing whether your expenses are making sense and delivering sufficient value.

6. Will I be building wealth that lasts?

As you work to build wealth and secure your financial future, staying focused on long-term investment is a must. The most significant thing you can do for your financial future is to make your savings automatic — that is, have your bank automatically direct a portion of your salary into an account specifically for saving. This ensures you save consistently instead of forcing you to make an active choice to set money aside. This is indeed “building wealth that lasts.”

7. Do I need a personal financial plan?

Before you make a financial plan or any investing decision, sit down and take an honest look at your entire financial situation. Either on your own or with help, to figure out your goals. TTMB is here to give you the facts about saving and investing and can help you follow through with an intelligent plan. As a first step, having a financial plan must include goals and milestones. These goals and milestones should include setting targets for having specific amounts saved by specific dates. The goals in question might include, for example, having enough savings to facilitate buying a home, funding your children’s education, building an emergency fund, having enough to fund an entrepreneurial venture, or having enough to fund a comfortable retirement.

This way, you should be able to gain financial security over the years and enjoy the benefits of managing your money. 

Own Your Future … Opening up to new possibilities

While these steps alone will not guarantee you complete financial independence in your investment journey, they are a great starting point. They will empower you to start building wealth for a better financial future. Building your knowledge and having a solid understanding of investing and your goals is key to making informed decisions that will likely yield favorable results.

But there is a lot to learn so start early to get on track for the future!

TTMB is committed to your financial success. With TTMB as your reliable mortgage partner, homeownership is within reach. Take the First Step Today!

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