Question

which of the following statements is incorrect? a person should consider investing after having adequate insurance coverage. a person should consider investing after paying off all his/her debts. a person should consider investing after establishing an adequate emergency fund. a person should consider investing after paying off his credit cards.

Answer 1

a person should consider investing after having adequate insurance coverage is the incorrect option.

Why investment is important?

Investing is a successful approach to use your money and possibly increase your fortune. Your money may grow in value and outpace inflation if you make wise investment decisions. The power of compounding and the trade-off between risk and return are the main reasons investment has a higher growth potential.

What are five advantages of investing?

#1. You Avoid Being Overtaken by Inflation.

#2 - Investing Will Aid in Your Wealth Development.

#3 - Investing Can Get You To Early Retirement Or Retirement...

#4. Investing can help you reduce your tax liability.

#5: Invest to achieve other financial objectives.

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