INVESTMENTS OVER SAVINGS

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INVESTMENTS‌ ‌OVER‌ ‌SAVINGS.‌ 
Dave‌ ‌Ramsey‌ ‌once‌ ‌said I‌ ‌would‌ ‌not‌ ‌pre-pay.‌ ‌I‌ ‌would‌ ‌invest‌ ‌instead‌ ‌and‌ ‌let‌ ‌the‌ investments‌ ‌cover‌ ‌it.‌ ‌‌When‌ ‌you‌ ‌want‌ ‌to‌ ‌keep‌ ‌your‌ ‌money‌ ‌for‌ ‌a‌ ‌long‌ ‌time‌ ‌without‌ using‌ ‌it,‌ ‌the‌ ‌best‌ ‌way‌ ‌to‌ ‌go‌ ‌is‌ ‌to‌ ‌invest‌ ‌that‌ ‌money‌ ‌in‌ ‌order‌ ‌to‌ ‌gain‌ ‌interest.‌ ‌Here‌ ‌is‌ why‌ ‌we‌ ‌should‌ ‌invest‌ ‌instead‌ ‌of‌ ‌saving.‌ 
Your‌ ‌savings‌ ‌will‌ ‌not‌ ‌be‌ ‌enough‌ ‌to‌ ‌retire.‌  
The‌ ‌question‌ ‌is,‌ ‌will‌ ‌your‌ ‌income‌ ‌during‌ ‌your‌ ‌retirement‌ ‌be‌ ‌enough?‌ ‌This‌ ‌is‌ ‌the‌ ‌reason‌ ‌why‌ ‌you‌ ‌have‌ ‌to‌ ‌invest‌ ‌in‌ ‌order‌ ‌to‌ ‌multiply‌ ‌your‌ ‌income‌ ‌in‌ ‌the‌ ‌years‌ ‌to‌ ‌come.‌ ‌Investments‌ ‌will‌ ‌grow‌ ‌your‌ ‌wealth‌ ‌to‌ ‌have‌ ‌enough‌ ‌to‌ ‌spend‌ ‌later‌ ‌and‌ ‌you‌ ‌can‌ ‌even‌ ‌retire‌ ‌by‌ ‌the‌ ‌age‌ ‌of‌ ‌40‌ ‌or‌ ‌50.This‌ ‌is‌ ‌because‌ ‌the‌ ‌money‌ ‌you‌ ‌are‌ ‌saving‌ ‌will‌ ‌lose‌ ‌its‌ ‌value‌ ‌to‌ ‌inflation‌ ‌and‌ ‌this‌ ‌will‌ ‌serve‌ ‌as‌ ‌a‌ ‌loss‌ ‌to‌ ‌you.‌
 If‌ ‌you‌ ‌stick‌ ‌to‌ ‌cash‌ ‌you‌ ‌will‌ ‌lose‌ ‌money‌ ‌to‌ ‌inflation‌. 
‌Inflation‌ ‌rises‌ ‌as‌ ‌the‌ ‌cost‌ ‌of‌ ‌living‌ ‌becomes‌ ‌high.‌ ‌Savings‌ ‌will‌ ‌not‌ ‌yield‌ ‌enough‌ ‌interest‌ ‌as‌ ‌compared‌ ‌to‌ ‌investments.‌ ‌Once‌ ‌your‌ ‌inflation‌ ‌rises‌ ‌your‌ ‌cash‌ ‌will‌ 
decline‌ ‌and‌ ‌you‌ ‌will‌ ‌have‌ ‌less‌ ‌purchasing‌ ‌power.‌ ‌Investments‌ ‌never‌ ‌loses‌ ‌its‌ ‌value,‌ but‌ ‌rather‌ ‌increase‌ ‌over‌ ‌a‌ ‌long‌ ‌period‌ ‌of‌ ‌time.‌ ‌This‌ ‌is‌ ‌the‌ ‌case‌ ‌where‌ ‌interest‌ ‌rates‌ ‌on‌ ‌savings‌ ‌do‌ ‌not‌ ‌increase‌ ‌as‌ ‌fast‌ ‌as‌ ‌inflation.‌ ‌Investments‌ ‌is‌ ‌always‌ ‌the‌ ‌right‌ ‌option‌ ‌to‌ ‌make.‌ 
The‌ ‌power‌ ‌of‌ ‌compounding‌ ‌when‌ ‌it‌ ‌comes‌ ‌to‌ ‌investments.‌  
The‌ ‌most‌ ‌powerful‌ ‌force‌ ‌in‌ ‌the‌ ‌universe‌ ‌is‌ ‌the‌ ‌principle‌ ‌of‌ ‌compounding.‌  
Albert‌ ‌Einstein.‌ 
Compounding‌ ‌basically‌ ‌means‌ ‌interest‌ ‌upon‌ ‌interest.‌ ‌This‌ ‌means‌ ‌in‌ ‌case‌ ‌you‌ ‌earn‌ ‌10%‌ ‌interest‌ ‌on‌ ‌GH₵100‌ ‌in‌ ‌January‌ ‌you‌ ‌will‌ ‌receive‌ ‌GH₵110,‌ ‌for‌ ‌the‌ ‌following‌ ‌month‌ ‌which‌ ‌is‌ ‌February,‌ ‌the‌ ‌10%‌ ‌interest‌ ‌will‌ ‌be‌ ‌calculated‌ ‌on‌ ‌the‌ ‌GH₵110‌ ‌and‌ ‌not‌ ‌the‌ ‌GH₵100.Investments‌ ‌definitely‌ ‌increases‌ ‌exponentially‌ ‌over‌ ‌years.‌ ‌In‌ ‌conclusion,‌ ‌Investments‌ ‌is‌ ‌always‌ ‌and‌ ‌will‌ ‌always‌ ‌be‌ ‌the‌ ‌best‌ ‌option‌ ‌to‌ ‌go‌ ‌in‌ ‌for‌ ‌as‌ ‌compared‌ ‌to‌ ‌savings.‌ ‌Investment‌ ‌is‌ ‌an‌ ‌asset‌ ‌or‌ ‌item‌ ‌that‌ ‌is‌ ‌purchased‌ ‌with‌ ‌the‌ ‌hope‌ ‌that‌ ‌it‌ ‌will‌ ‌generate‌ ‌income‌ ‌or‌ ‌appreciate‌ ‌in‌ ‌the‌ ‌future.‌ ‌“Investment‌ ‌is‌ ‌an‌ ‌asset‌ or‌ ‌item‌ ‌that‌ ‌is‌ ‌purchased‌ ‌with‌ ‌the‌ ‌hope‌ ‌that‌ ‌it‌ ‌will‌ ‌generate‌ ‌income‌ ‌or‌ ‌appreciate‌ ‌in‌ the‌ ‌future.‌ 

 

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