Wes Moss, among others, was recently interviewed by Reader’s Digest. Here is what they say people skillful in managing their money will never declare.
“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 entirely different actions. And while they both have their benefits, money professionals are more invested in, well, investing.
“Money professionals understand that their savings have 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, 15 Things You Won’t Hear Money Experts Say, on Reader’s Digest.
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