Undoubtedly, due to the COVID-19 health crisis, months of economic uncertainty await us, with severe impacts on the world economy that also affects our country. In this scenario, Ali Meli wants to make sure you make the best decisions to protect your investments and your dreams.
The first thing according to Ali Meli, you should do is review your assets. That is, clearly identify and know with what accounts and whatnot in economic terms.
What do we call personal and family assets?
We call personal or family assets the set of economic assets of a person or family. This patrimony represents the sum of the assets less the debt or liabilities that are had.
Examples of assets are certificates of deposits or financials, cash in bank accounts, investment in securities market instruments, real estate, among others. For their part, liabilities are accounts payable, formal and informal loans, promissory notes, among others.
The difference between the two will be your net worth, which truly represents what you have at the moment. Having that security will allow you to protect yourself from inflation, making more accurate investments.
What aspects should you evaluate about your investments at this time?
Don't make any financial decisions based on your emotions. Neither fear, nor anxiety, nor what you hear from unreliable sources should be the reason you take to sell, buy, cancel or take actions that may have a significant economic impact.
Make an inventory of all the investments you have and here identify:
Where do you have them placed? For example, financial certificates in the bank, investment funds, or other securities market instruments through your stock exchange.
Are there better options in which my investments can move at this time?
Keep a good mix between your savings in dollars and savings in pesos. Undoubtedly, a combination of the two currencies is important, and it is much more so in times of financial uncertainty. In this sense, remember to always have an emergency fund in your local currency to use it quickly if you need it, and try to have savings in dollars to help you protect yourself from a potential devaluation of the currency.
What are the placement deadlines for each product? What interest or profit do they generate? How often is the interest payment for each product?
Thoroughly evaluate new investments. That will depend a lot on your financial situation, your risk appetite, and your financial needs.
Here Ali Meli suggests you evaluate the company's situation where you work, the category in which the business operates, and your situation or role within the company. Ask yourself how you see your future in it. Keep in mind that not all sectors will be impacted in the same way in the coming months.
If you understand that your work situation and the company's situation are optimal, you can better plan a long-term investment. However, in today's volatile environment, we always suggest being conservative when investing in large amounts of money. If you can wait, it is better to wait.
Ali Meli: Tips for first investors
Investing in the stock market is simple, but you need to learn how it works and always have the recommendations of a stockbroker.
· Make sure you know your risk profile. They will help you in your stock market to determine it.
· Identify your investment objectives and needs
· Start with short-term investments
· Make placements in various financial instruments
· Get training in the investment area, both in traditional banking and in the stock market, to better understand the performance of your money.
· Open a brokerage account at your brokerage to get started in the stock market. It is free and will help you maintain a diversifying portfolio.
· Remember that constant investment is the tortoise beating the hare in the race.
· Investing can be an excellent purpose for your savings. Immediately begin to understand the capital markets to learn how to get better returns on your money.