Am I saving too much money?
Starting a job as a fresh new graduate, with the thrill of a paycheck every two weeks, is empowering and is the first step towards financial freedom. Just like most millennials, you’ve listened to the advice doled out by your folks and put a substantial chunk of your income into a savings account. Savings are good - a rainy day fund is essential. But the secret sauce to building wealth and attaining financial freedom lies in something else altogether - Investments. The money you put into your savings account or into cash deposits is an investment. The larger sums of money put into popular online brokerages are investments too. The difference? The growth factor often associated with stocks. Power of Compounding Compounding accelerates the pace at which your money grows and is a factor that is often severely overlooked