what are savings?

savings...

is it how much money you have in your checking/savings account?
is it your retirement plan?
is it your discretionary funds?
is it your true worth when accounting for debt (school, mortgage, vehicles, etc)?
does salary even matter

i'm hitting a financial life milestone, but it doesn't feel like what i imagined when younger.

total assets minus debt

at 20 it is how much money you have in your savings/chequing account!!


at 57 it is all on your list....expecially the retirement funds and if one is mortgage-free or not


and of course salary matters!
but how you manage that salary from the time you start earning one matters even more
that will determine your worth at retirement

savings are really deferred spending....money not spent are excess funds you have in your current account balance, and should not be misconstrued with working funds, i.e. monies intended to pay loans, mortgages etc. It is not your net worth either. Net worth is really a term used to determine how rich one is after all liabilites are satisfied, but that does not factor in liqudity, the ability to convert hard assets to liquid cash. Your retirement account and discretionary funds are considered savings. Your salary facilitates the funding of these accounts/funds.

SCA......you must be one ah dem.....Financial Advisors!!


too complicated for me! hocked:

make sure you have prenuptial

Alternative Saving :