Apsire Partnership Brochure - page 50

Do youneed to saveor invest?
Saving for thedeposit onanewcar isdifferent from investing toachieve
a long-termgoal, such as building up retirement money in a pension.
Saving generally involves puttingmoney into a bank or building society
account that is relatively safe and pays a fixed, although typically low,
rate of interest. Returns are unlikely to bewealth enhancing taking into
account the impact of inflation i.e. the real purchasing power of your
money is likely to decline.
A common misconception is that saving is risk free. Considering the
long-term threat of inflation, formanypeople, not investingmeans taking
a risk. If youdon’t grow yourmoney, youmaynot beable toafford things
in the future.
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