In today’s fast-paced and ever-demanding world, with many financial uncertainties, saving one’s money isn’t just enough; knowing how to optimize those savings can make a significant difference in achieving your financial goals.
In understanding the difference between saving and investing, the simple answer is that saving is leaving your money in a safe place until you are ready to use it while investing is using your money to make more money for yourself. For many people who would like to invest their money, the fear of falling victim to investment scams has left them to stick to simply saving their money.
But here is the good news! There is a way to combine savings and investment in which one can make more money from saving their money without the fear of losing capital, and that is through Mutual Funds.
Mutual funds give you an opportunity to save your money while earning interest, and the interest keeps compounding every day the money is in the account. The good thing about mutual funds is that you can take out your principal if you need cash in an emergency.
There is also the Money Market Fund (MMF) by AXA Mansard, which is designed for investors with low-risk appetite who are looking to maximize their savings. The MMF plan doesn’t require a huge amount of money to be invested before money can be made, and in a situation where the investor is unwilling to continue, such a person can sell their units of funds. You also get to track your money from time to time to monitor the progress, which, by extension, keeps the investor’s mind at peace.
There are other types of investments, such as Stocks, which are commonly referred to as Shares. Depending on how much the person is willing to invest, an investor buys units of shares and earns money from them over the years.
Another type is a Certificate of Deposit (CD), also considered a very low-risk investment. With CDs, an investor gives a bank a certain amount of money for a predetermined amount of time and earns interest on that money. When that time elapses, the investor gets both the principal and the accrued interest back from the bank.
AXA Mansard Investment has a record of providing sound investment advice to individuals and corporations.
To get more information about investments, call us on 0700 AXA MANSARD (0700 292 6267273) or email ccare@axamansard.com.
