ECONOMICS
SAVING AND INVESTING
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
True
|
|
|
false
|
|
|
Either A or B
|
|
|
None of the above
|
Detailed explanation-1: -Investments increase by generating income (interest or dividends) or by growing (appreciating) in value. Income earned from your investments and any appreciation in the value of your investments increase your wealth.
Detailed explanation-2: -Saving, investing, reinvesting, and growing your financial and business intelligence are all essential wealth building habits that require persistent and consistent effort. In other words, wealth building requires discipline.
Detailed explanation-3: -While get-rich-quick schemes sometimes may be enticing, the tried-and-true way to build wealth is through regular saving and investing-and patiently allowing that money to grow over time. It’s fine to start small. The important thing is to start, and to start early. Earn money and then save and invest it smartly.
Detailed explanation-4: -Automate your savings. Revisit your savings once a year. Hike your savings rate. Avoid high fees. Stick with the market. 17-Feb-2023