Let me start an argument by stating my firm belief that saving money into a piggy bank or even into a real bank paying interest is NOT an investment. All investment is risky but opinions differ widely on the meaning of risky.
I love quoting an American financial advisor who, about 40m years ago, stunned an audience of Australian financial planners (myself included) by declaring that he had all his money and that of his clients invested in stocks BECAUSE HE WAS A RISK AVERSE INVESTOR.
After testing and recording several different periods of regular monthly additions to a share portfolio, or to a managed fund, I had (and still have) no hesitation in recommending as an investment, a consistent monthly addition to a managed fund offering an investment in a share market.
“The market has gone down”. Whoopee! I can buy more shares with my regular savings plan.
“The market has gone up”. Whoopee! My investment has increased in value.
You can have it both ways!