Setting Up an Investment Savings Account

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An investment savings account should only be set up after an emergency cash fund has been set up. Learn about setting up an investment savings account on an automated basis with help from a registered financial consultant in this free video on investments and personal finance.

Part of the Video Series: Beginner Investing
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Video Transcript

This is financial adviser Patrick Munro talking about setting up an investment savings account. Setting up an investment savings account is something you should always strive to do after you have an emergency cash fund set up for yourself. An emergency cash fund is a significant fund to have to fall back on when times are difficult. And it's then and only then that you should set up an investment savings account preferably on an automated basis. In other words pay yourself first. And then of course you can start choosing securities and savings vehicles or basically safe in nature, and get those taken care of and moving on forward, and as your financial life and income goes up you can start taking on more high-risk activities that will allow you to make more money going forward as well. This is important setting up an investment savings account as for your future and your family's future as well. And it is something you should strive towards after you set up a valid budget. Make sure that you have enough of dollars available to do so. This is Patrick Munro financial adviser, talking about setting up an investment savings account.

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