If serious saving doesn’t come naturally to you, here’s a quick primer to start you off.
These terms can be confusing, as they’re often used interchangeably. However, ‘savings’ is commonly used to mean ‘cash deposited to a bank’, while ‘investments’ usually implies higher-risk products such as stocks and shares or bonds. But the definition isn’t clear cut in fact.
Cash savings are low risk but relatively unexciting. Your basic options are these:
A Private Wealth Manager can talk you through all your options and help you put together a savings plan to fit your needs. Find a PWM here.
Questions to ask your financial advisor: