Question

If you want to reach a long-term investment (savings) goal, a good strategy to consider is......

If you want to reach a long-term investment (savings) goal, a good strategy to consider is...

saving money up-front and leaving it to grow over time.

saving money out of your income and placing it into an investment each year.

both of these

playing the lottery (show me the money! even my stacks got stacks)

TRUE OR FALSE: If you want to become a millionaire in 30 years, a savings account is the best investment to choose.

True

False

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Answer #1

False - A savings account is the general purpose accounts in which the money is not in a lock in period and the interest rate is very low. So people spends there money if they have and they can withdraw. A best investment option can be Stock markets, Commodity if you are a risk lover. Mutual fund is also the best option to invest and it has less risk as compared to direct investment in Stock market. However if you dont wana take risk at all Government treasury bonds and Fixed deposits are one of the best option to invest in with almost no risk. So we can say that there are are lots of other option which gives higher return as compared to savings account.

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