Statistics show that nearly 80% of people who live on rent want to buy their own home, but most of them can’t afford to do so. Mortgage rates are skyrocketing and property listings are gaining value by each passing day, making it difficult for applicants to secure a sizeable loan or even afford to pay for the downpayment.

Living in the 21 st century has its perks. Gone are the days when you had to put a stop to your dream of owning a beautiful house or an amazing car since the concept of loans came into existence. People can buy cars, houses, home appliances, cell phones, and even study by securing a loan.

For those who are deeply involved with creating wealth, there is little time for anything else. And that includes managing the finances they bring in. Wealth managers help them do precisely that. Wealth management is a high-level professional service by individuals or management firms who regulate and control money flow by providing prudent investment advice and making financial plans for the post retirement life of affluent people.

Savings accounts are among the safest investment options. One can use them to set aside money every month and accumulate wealth. The savings can be withdrawn anytime and used for a big purchase like a new car. Individuals can also use the money for emergencies or for building a retirement fund.