Important Reasons Why We Should Invest
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| Why We Should Invest |
You may be wondering why one should commit his money into something, forego his consumption now, and not put his money into savings account so as gain access any time. Well here is something you need to know. In the Parable of the Three Servants; the first servant was given 5 talents, second servant was given 2 talents and the third servant was also given 1 talent, and you already know how that biblical story went. This indicates that even the Bible supports investment. The government also supports Investment through Legislation on compulsory contribution by workers towards pension - SSNIT.
Here are some of benefits for you to start planning to invest.
By investing your money today, you are hereby saving the money for a future need
Investing makes your money work for you. i.e. earn an interest.
For example, a fixed deposit customer who earns interest of about GHC 50.00 a month on his fixed deposit account. This is known as 'Time value of money'.
Investment can provide you with a needed startup capital for a business.
An adage says that "Little drops of water make a mighty ocean". For example, an advert by Databank on their flagship investment product (Epack) has a GHC 100.00 invested into the fund by a couple for 17 years and has grown to about GHC 18,000.00. The daughter (beneficiary) upon receiving it says "it's enough to start my first business". Isn't that great?
Investment also helps you to meet unexpected expenditure in life "Family security".
Economic Importance.
Investment provides funds needed by various sectors of the economy to function efficiently. When we invest, especially with banks, our monies are given out as loans to individuals and companies who are in need of capital to also engage in economic activities. So investment in effect helps the economy to run effectively. This is the reason why low investments leads to low GDP.
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