Gambling, Speculating, Saving & Investing. What’s the difference?
How should you invest your money?
If you don’t invest wisely, it will be hard to fund your future.
There are always new areas you can put your money into, but are they worthwhile long-term?
In my latest video, I look at all the possible areas to invest your money and fit them into 4 categories: gambling, speculating, saving, and investing.
Knowing the expected return & risk for each will help you decide what’s right for you and your money.
I specifically talk about:
- The difference between gambling, speculating, saving & investing.
- What are meme stocks, NFTs, cryptocurrencies?
- Meme stocks, NFTs, cryptocurrencies, lotteries, futures, options, rental properties, bonds, GICs, dividend stocks, equities. Where do they all fit?
- How high do long-term returns need to be to be considered an investment?
- Odds of making money in the stock market with day trading and short-term investing.
- How the stock market can be gambling, speculating, saving or investing.
- How to be confident you are investing effectively.
I hope you enjoy it!
Planning With Ed
Ed Rempel has helped thousands of Canadians become financially secure. He is a fee-for-service financial planner, tax accountant, expert in many tax & investment strategies, and a popular and passionate blogger.
Ed has a unique understanding of how to be successful financially based on extensive real-life experience, having written nearly 1,000 comprehensive personal financial plans.
The “Planning with Ed” experience is about your life, not just money. Your Financial Plan is the GPS for your life.
Get your plan! Become financially secure and free to live the life you want.
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