You cannot save your way to financial independence.You can accomplish a lot by being smart with your money. You can save a great deal by being frugal and being careful with your expenses. You can reduce and/or eliminate debt.But if all you do is put that saved amount into a savings account, you may not ever reach financial independence. While savings rates are getting higher, they are still well below the current inflation rate which was 7% in the March quarter (ABS.gov.au).Most savings accounts are still in the 2-3% range (you can get higher if you meet certain conditions such as set amount of deposits, or limited time rates).Investing in the stock market however, still delivers a much higher return long term. The ASX200 averaged 9% p.a. (based on last 10 years data).Investment property is slightly lower according to my research (although I’m not an expert in this area). But still much higher than savings accounts.

Happy investing (and saving)!

My trades are going smoothly, Great profits coming my way through the crypto space.

You have control over what you choose to invest in and how often / how much money you’ll invest.

But you don’t have control over the everyday fluctuations of the stock price. You can however think long term and not be bothered by short term changes.

Invest often, but wisely.

Happy investing

#investing #STOCKMARKET #longterminvesting

Both ETFs and single stocks can be good for your portfolio, it depends on your goals. One is not necessarily better than the other.

If you’re just starting out then an index ETF can be a good option. If you’re more established you can look for ETFs that contain companies that you don’t already have such as international stocks or a different sector.

But single stocks can be good too. That way you can choose the exact companies that you want to invest into.

Portfolios can be as individual as you are.

Happy investing 😊

Send inbox if you wanna join my free crypto class.

Invest and start making good profit from your home.

#investing #STOCKMARKET #investingforbeginners #btc#crypto#forex