SHOULD YOU JOIN THE MONTHLY INVESTMENT PROGRAM?
If your company has set up, together with FAMI, a Monthly Investment Program (MIP), you should know that this MIP is a voluntary salary savings program that can help you save in a disciplined and automatic way. This MIP involves a voluntary salary deduction, which your company places or invests in a Save and Learn mutual fund of your choice. This is purely voluntary, and therefore it’s up to you to decide whether you (a) want to have an automatic salary deduction, and if so (b) in which Save and Learn mutual fund you wish to invest your savings.
As far as the first decision is concerned, if you’re not sure whether or not you should join that program, here’s a short self-assessment tool which you can use to determine whether you should join that savings program or not. There are only six questions, and it shouldn’t take more than five minutes to answer. Some helpful tips are also found after you answer each question. Click on the title to start the self-assessment: “Should I Save?”