In an article published by Reader’s Digest, Wes shares the difference between saving and investing.
“Saving and investing are the same.”
These two words are used to describe what people do with money they’re not actively spending, but they are actually entirely different actions. And while they both have their benefits, rich people are more invested in, well, investing. “The wealthy understand that their savings has to be invested in order to have the potential for compound growth,” says Wes Moss, CERTIFIED FINANCIAL PLANNER™ and author of You Can Retire Sooner Than You Think. “Savers have a fear mentality, stash their money away in the bank, and never really get momentum from their assets. Investors, on the other hand, have their assets invested in areas that over time have produced high single-digit or low double-digit annual returns.”
Read the full article here.