Do you want to grow your net worth? Be able to retire when you want without the worry of working again? To do so, making sure you have a diverse portfolio is a guaranteed way to have that money. Being  financially stable and having a diverse portfolio to grow your money gives you the best chance to thrive and live a money filled life with minimal problems or at least a plan for an emergency. 

You should always start with saving. You have to start out with something and once you are financially stable to start investing you can use that saved money to grow your net worth. In the article “How to choose the right strategy to hit your money goal” it is said, “In general, you should save to preserve your money and invest to grow your money. Depending on your specific goals and when you plan to reach them, you may choose to do both.” No one can tell you what’s right or wrong. It’s completely up to you,  it’s your money and you can use it as you please; but from the statistical standpoint overall saving is good for short time frames and for things that you already have some money saved up for and just aren’t as expensive. While investing is better for the larger transaction amounts and can take years before you get your money back. But that money you put in can double, triple, up to as high as you can think of  but can also come with higher risks of losing all your money. 

In an interview with Mr. Steffens, a money manager from Thrivent, I asked  “Who is the average person who invests their money and who saves their money?”; Then as a follow up I also asked what his opinion on each. He then discussed people who invest come in all shapes and sizes. Poor and rich, all of them come to invest their money to try to increase their profitable incomes. They just want more extra money, they have saved to a reasonable amount and are ready to start taking more risks with their money. People who are saving their money tend to not believe in the new way banks work  so they aren’t even getting interest they just keep it in their house which is the worst possible thing to do. With both saving and investing your money is liquefied and useful when you’re not touching it gives your money a purpose. Here are things to consider when looking for investing and saving strategies you might use.

These are from my opinion and what I found research shows. From the article “How to choose the right strategy to hit your money goal”  the author talked about and suggests these awarenesses that you need to have: 

• Investing it has higher risk, 
• There’s the chance of losing money, breaking even, or gaining a little money or gaining a Lot of money. There are no guarantees it has fluctuating returns.
• Investing offers the potential for high returns, but they may not stick around for long. 
• Financial markets constantly fluctuate. 
• There are also fees, taxes and penalties for taking out money at all or for taking it out all.
• Good for long-term goals.
• Investing can help you grow money over the long term, making it a strong option for funding expensive future goals, like retirement.  

Savings is safe but not as good of return from the same article and my opinions these are the awareness you should know about saving:

• Minimal risk savings account balances have no risk of declining.
• Yields on savings accounts usually only fluctuate by the federal reserve which happen at set intervals throughout the year.
• You have Immediate access to your accounts and the ability to Transferring money into and out of your savings without a penalty 
•  Good for short-term needs.
•  A savings account is the ideal spot for an emergency fund or cash you need within the next three to five years. 

But hey if you end up young dumb and broke, that’s still okay. You just have to learn the hard way. One easy way to start making sure you have money is in the middle of your life. Make smart choices including making good financial choices. A suggestion from Mr. Luedtke in our interview was taking 20 percent of everything and that means every little thing: the 10 cents from your McDonalds – keep the two pennies and put them somewhere it will add up . Because working a lot when young you save to retire at 40 but have no life doesn’t sound exciting for most people Mr Luedtke also expressed that “In reality money isn’t anything it’s the experiences and the friendships you make within your lifetime that truly count and matter.” And I couldn’t agree more with him.