4. Saving against investing

What this is made of

• 4(a). The difference, and when to use which
• 4(b). Return and risk, and how they relate
• 4(c). Simple and compound interest
• 4(d). Diversification
• 4(e). Why retirement is worth saving for now

Where this step comes from

1. Personal Management Merit Badge Requirements (Merit Badge Hub, last modified 2025-09-19), Requirement 4