Should You Save or Invest Your Money?

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Everyone has a different opinion of whether you should save or invest your money, and how much you should have saved before you start investing

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The real answer isn't that simple, because it doesn't provide any nuance or take your specific goals into account

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Here's what you need to consider when deciding whether to save or invest your money ----->

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Having money set aside in an accessible emergency fund is important. The amount you need depends on your spending, but a minimum of $1000 is a good start

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If you have access to a 401K, you should start investing in it the minute you start working. Even a small amount can grow over time.

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If you want to buy a house or car soon, you should probably save the money. If your top priority is retirement or financial independence, you should invest more.

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Soon is relative and markets are unreliable. You shouldn't invest money you will need in the next 3-5 years.

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Should You Save or Invest Your Money?

Everyone has a different opinion of whether you should save or invest your money, and how much you should have saved before you start investing

The real answer isn't that simple, because it doesn't provide any nuance or take your specific goals into account

Here's what you need to consider when deciding whether to save or invest your money ----->

Having money set aside in an accessible emergency fund is important. The amount you need depends on your spending, but a minimum of $1000 is a good start

How Much Money Do I Need in an Emergency Fund?

If you have access to a 401K, you should start investing in it the minute you start working. Even a small amount can grow over time.

Do I Have an Employee Sponsored Plan?

If you want to buy a house or car soon, you should probably save the money. If your top priority is retirement or financial independence, you should invest more.

What are my money goals?

Soon is relative and markets are unreliable. You shouldn't invest money you will need in the next 3-5 years.

What's your timeframe?

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