The One Fluctuating Factor in Your Finances You Can Control is Your Savings Rate

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  • iStock_000006648978Large-300x199The stock market is volatile. Investment in stocks, bonds or various funds always bear some amount or risk and are simply out of your control. There is, however, one factor in your finances that you do have control over: your savings interest rate.

    Many people focus on earning high returns and forgetting about the common suggestion of financial advisers to start saving early, because savings can almost always produce more income for you than returns, even in the best of scenarios.

    The cold hard fact about compound interest is that it can be years before returns become significant. In the meantime, the best way to maximize your investments is to save more.

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    Sean William Murray

    Sean W. Murray is the founder of Rich-Logic, a lean and very mean financial planning and investment advisory firm that advises clients with portfolios ranging from $10,000 to over $50 million. The author of "Beating Wallstreet", Murray advises wealthy individuals on how to invest their money, as well as courses on behavioral finance at dozens of elite institutes. His articles on TheMoneyExpert give valuable insights into the world of stocks, binary options, forex and other investment vehicles.

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