The tortoise and the hare can teach us a lesson on this subject too! Whether you are saving for retirement, a big trip, a home or something special, slow and steady does it. Here are a few reasons why:

• If the amount is built into your budget, it is part of the plan
• Automatic monthly transfers = it will happen
• Regular deposits/purchases = dollar cost averaging
• Automatic savings = no anxiety with respect to ‘when to buy’
• Invested wisely (see below) and it will grow
• Add ‘windfall’ money and it will grow even faster

Don’t forget to make sure your hard earned money is invested in an appropriate investment. Consider the following 3 things:

1. What – The purpose for the money
2. When – This dictates how long you can invest the money
3. You – What is your risk tolerance?