Think longterm

Ecclesiastes 11:1 Cast thy bread upon the waters: for thou shalt find it after many days.

Financial experts say that any worthwhile investment that will make one really wealthy takes a while, not 2, 5 or 10 years but a minimum of 20 years. Am not a money expert, neither have I done any investment for 20 years yet for all that for that time, but I bet those experts aren't wrong. Infact some allude that many wealthy people are in their 50s and above. I mean the really wealthy and not merely rich ones. 

There are three types of investments with different levels of risk. Those are high risk, medium risk and low risk investments. High risk include include things like putting up a business. There is no guarantee that the money will give you return. And in those high risk, once you have lost your money, you can lose it completely. Take for instance the COVID-19 pandemic, most businesses didn't survive the pandemic because they are in the high risk zone. Advise is to have as little as 10% of your money invested in this type of investments. 

There are medium risk investments such as investing in company stocks and shares, etc. These too have about 20% of your money invested there. They give high returns but the returns are affected so much by political events etc. Low risk investments earnings don't fluctuate much when a negative event happens. Their earnings are relatively stable. They include real estates, treasury bills and bonds, unit trusts etc. 

For instance if one invests at least 20% of their earnings in low risk investments such as unit trusts, treasury bills and bonds, which give him an interest of 12% p.a, in 20 years they would have accumulated so much money that they literally wouldn't need to work again. They would just go to work because they love working or other intrinsic motivation. Most of your money should be invested here. But don't be hindered by this advice if your risk appetite tells you otherwise. If you don't fear loss, identify a business, and invest, but if you want stress free money which will sweat on your behalf while you sleep. There are a number of those savings schemes regulated by the government which can help you save as an investment so that you retire comfortably like Old mutual, Xeno, ICEA etc. 

Do you have a financial plan for your future? Are you thinking long-term? Are you in your 20s or 30s? An early start is good enough with 20% invested. If you are a late starter in your 40s, the percentage might need to go higher. If you only have a bank account, it's wise you opened up a money market account with any of those agents I have listed to earn interest off your savings.