Saving and Investing

Setting aside money in a savings account is the first step to financial stability. It is important to have an emergency fund in an account that is easily accessible. It is also important to set aside money for short term goals (less than five years away). When choosing a savings account or product you need to balance access to the money and rate of return. It is not wise to store large amounts of money in a savings product that offers a low rate of return. You also need to consider safety of the principal (money you put in the account). When saving for goals that are five years or less away, a savings account may be a safer option than  investment products that can be risky, especially in the short term. Attached is savings product comparison chart

Investing Articles

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