Saving vs. Investing

August 25, 2008
By Kevin Cafferty

There's a great blog entry over at Portfolio by Felix Salmon - Wise Investing: No Substitute for Saving, which discusses the best way to plan for one's retirement and what the public perception of that is:

Here's a depressing statistic. In a recent Harris survey, 3,866 Americans were asked which things were "extremely important to achieving financial security in your retirement". 39% said that "investing wisely" was extremely important, while just 34% said that saving money during one's working years was.

The 401k plan complicates this a little, as it combines both saving with investing, but overall the points made are valid: the more money you save sooner, the more interest that money will provide as it compounds on itself.

I've been thinking about saving a lot lately - partly because it's a big part of our mission here at MoneyAisle and partly because we're about to present the winner of our "Save! America" sweepstakes from last month with his own High-Yield Savings account. Watch this space!

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