All of us have dreams that we want to fulfill. You may want to buy a car you desire, own your dream home, or simply afford life’s little pleasures like taking regular holiday trips and even getting the latest gadget.
To achieve what you want, you should invest to grow your savings.
Another important reason why you should invest – your money will be worth less over time if you do nothing about it!
Be aware of inflation’s invisible power
Prices of goods and services generally rise over time. Fifteen years ago, a movie ticket was S$4. Today, it costs S$9. In another 15 years, the price of the same movie ticket will most likely increase.
In Singapore, inflation has averaged around 1.6%* per annum over the last 15 years - a sum of S$10,000 then would be worth only S$7,880 now. If you left your money in a savings account, the 1.8%# interest earned would have only kept pace with inflation!