10 Difference Between Insurance And Investment

1. Insurance is not an investment.  2. Insurance is a service or plan you purchase with the intention of guarding against loss of life, property, or health, as well as theft or damage. 3. Investment is something that we save up to use while we are alive.  4.  Investments involve risk but are also expected to produce a higher rate of return than savings. 5. Investing can be scary for the first time and insurance can be confusing. 6. Investments multiply your money and help you build wealth. 7. An Insurance takes care of a financial basic, such as a nest egg for you and your loved ones in the future. An Investment allows you to turn a profit with existing, excess money.

12 Difference Between Investment And Savings

1. Your "savings" are usually put into the safest places or products that allow you access to your money at any time. 2. Savings refers to that part of disposable income, which is not used in consumption. 3. Investing is the way that you will begin to really grow your money and begin to build wealth. 4. When you "invest," you have a greater chance of losing your money than when you "save." 5. A mutual fund is a classic example of an investment. 6. Savings are made to fulfill short term or urgent requirements. 7. Investment is made to provide returns and help in capital formation. 8. Investing will not begin to help you build wealth until you spend less than you earn and you focus on getting out of debt.