Tag Archives: opportunity cost

Spend or Invest? New Thoughts on an Age-Old Dilemma

By Bennett Whitlock, CRPC ® A familiar experience for many Americans is that as fast as money comes in, it goes out the door again in pursuit of the next “must have” purchase. Such spending habits can take a toll on plans to build up savings for the future. The key is finding a balance between immediate gratification and long-term financial security. In many instances, we can all find ways to save on daily purchases to set more money aside to help meet goals like saving for retirement or a child’s education. The bigger challenge comes when it is time to make a major purchase – a home, a car, appliances or home improvements. These expenditures can require the immediate outlay of thousands of dollars. You may have to drain money from savings or, at the very least, reduce available funds to invest for your future. When is the expenditure worth it, and when is the cost …

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