It is great if you are able to be able to save money today. Congratulate yourself because you’re on the right track. But just how long will it take before you are able to save enough money to cover the deposit for that dream house. Or save enough to be able to take an early retirement. And just how long will the savings spree last before you are tempted to dip your fingers into the cookie jar to help yourself to something that turns out to not be so urgent after all.
The thing is, saving is really great if you are able to do so. But you really need to be quite careful with the why and how. They say that there are two kinds of people. There are those that simply cannot work with money. They cannot save money to save their lives. And then there are those who, it is believed, really can work with money. You may fall into that latter category. Good for you, and well done.
But are you really working with your money? Are you really giving your money the space and opportunity to grow? Saving is one thing and that’s great if you can still do it. But where is the wealth management. Now that’s what really gets you moving in the right direction. Upwards. You do, however, need to shop around for some good wealth management companies before you allow anyone to touch your money.
You do need to check if they are accredited and if they are licensed service providers. You can be looking for proven track records too if you want. But don’t put too much stock into this. It is like saying; don’t put all of your eggs into one basket.