Tag: CDs

The right time to invest?

time to invest

Is this the right time to invest?  Good question.

Here’s another good question:  when is the best time to plant a tree?
The answer:  “Now.”
Here’s a better answer:  “When you were a child.”

Time is our most precious resource.  A wasted moment is lost forever.  Trees take time to grow.  The same is true for wealth.

We are often asked “is this a good time to get into the market?”  The answer is that there is no better time.

Here’s why.

If you put your money in a savings account you might get about 1{030251e622a83165372097b752b1e1477acc3e16319689a4bdeb1497eb0fac93}.

At that interest rate it takes 70 years to turn $100 into $200.

If you could grow your money an average of 5{030251e622a83165372097b752b1e1477acc3e16319689a4bdeb1497eb0fac93} per year, that $100 would grow to $200 in 15 years.
If you can get 6{030251e622a83165372097b752b1e1477acc3e16319689a4bdeb1497eb0fac93}, it would take 12 years to grow to $200.
If you can get 7{030251e622a83165372097b752b1e1477acc3e16319689a4bdeb1497eb0fac93}, 11 years would get you to $200.
If you can get 8{030251e622a83165372097b752b1e1477acc3e16319689a4bdeb1497eb0fac93}, 10 years would get you to $200.

At 15{030251e622a83165372097b752b1e1477acc3e16319689a4bdeb1497eb0fac93} your money doubles every 5 years.

We are big advocates of people working hard for their money.  But we are just as insistent that money should work hard for them.  Why be a hard worker with lazy money?

Investing is one of those things that people put off.  But doing so wastes their most valuable resource:  time.

If you’re not happy with the way your money’s working for you, check out our website or give us a call.

No sales pitch, no pressure. Just good advice. That’s the reason we won the 2015 Suffolk Small Business of the Year award from the Hampton Roads Chamber of Commerce.

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Korving & Company, Investment Management, Suffolk, VA

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