This could cover unexpected costs such as car repairs or bridge a gap between jobs. The rule-of-thumb is to build an emergency fund to cover three or preferably six months of living expenses. As your gains are reinvested, your investment pool ‘snowballs’ or compounds over time.ġ. Do you have an emergency savings buffer? As SuperGuide, points out: “When you are earning compound interest on an investment it means you not only receive interest on the principal invested but you also receive interest on your interest plus principal.” In fact, your superannuation is an excellent example of this.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |