My attempt to withdraw my Advisordia point to cash after following the instructions Showing sorry, this page is not available after clicking on it , why https://www.advisordia.com/settings/financial/ Please what should I do
My attempt to withdraw my Advisordia point to cash after following the instructions
Showing sorry, this page is not available after clicking on it , why
https://www.advisordia.com/settings/financial/
Please what should I do
Read less
Saving and reinvesting are both financial concepts, but they involve different strategies and purposes: **Saving:** - Saving refers to setting aside a portion of your income or funds for future use. It's the act of putting money into a safe and easily accessible account, such as a savings account orRead more
Saving and reinvesting are both financial concepts, but they involve different strategies and purposes:
**Saving:**
– Saving refers to setting aside a portion of your income or funds for future use. It’s the act of putting money into a safe and easily accessible account, such as a savings account or a money market account.
– The primary goal of saving is to build an emergency fund, cover unexpected expenses, or meet short-term financial goals.
– Savings are typically considered low-risk because they are often held in accounts that offer minimal returns, such as traditional savings accounts.
**Reinvesting:**
– Reinvesting involves taking the returns earned from investments (such as interest, dividends, or capital gains) and putting those earnings back into the same or different investment vehicles.
– The primary goal of reinvesting is to capitalize on the power of compounding. By reinvesting earnings, your investment has the potential to grow exponentially over time.
– Reinvesting is often associated with more complex investments, such as stocks, bonds, mutual funds, or real estate.
– While reinvesting can offer the potential for higher returns, it also comes with varying levels of risk, depending on the investment vehicles chosen.
In summary, saving focuses on setting aside money for short-term goals and emergencies, while reinvesting involves putting earnings from investments back into the investments themselves to potentially achieve long-term growth. Both strategies play important roles in personal financial planning and can be used in conjunction to achieve a well-rounded financial strategy.
See less