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I think I’m like many people in the sense that I try and mentally allocate money to my savings account each month.
From month to month, the actual amount I save depends on many different things. But in principle, my savings can go towards my investments, such as FTSE stocks. My aim over the long term is to build a pot that can help me retire by the time I hit 60. Here’s my game plan.
Pros and cons of shares
There are plenty of options where I could invest my savings each month. The reason I like using the stock market is because it allows me to invest in any amount. Further, I can easily buy and sell stocks on the market. This contrasts to some other investments where my money is locked up for a much longer period, or that gives me limited access.
The downside to stocks is that the value can fluctuate a lot more than alternatives. With a high interest savings account, my…
