"Saving" and "investing" are the two main actions that will accompany you on the way to increase your capital and thus be able to ensure your financial future. Currently, in the market there are endless options for you to achieve it, however, you should know that there are options that have more risks than others. We see the options that you have at your disposal.
Savings plans.
If one of your options is to save money throughout your working life, a savings plan may be for you, however, you should know that in a savings plan, your money does not remain fixed in an amount, but its value It depends on inflation, causing this to affect its value in the long run. Among the best known and most used savings plans are mutual funds, pension plans and retirement savings plans.
Profits:
Generate interest over time.
You can have your money at any time.
There are flexible savings plans, where you choose the amount to contribute and the period of time.
Disadvantages:
They have a low profitability and growth percentage of approximately 2% and 4%.
There are charges and commissions for the use of the savings account..
Withdrawing your money before the stipulated time can bring you costly penalties.
Life insurances
Life insurance is mechanisms that allow you to financially protect your loved ones if something happens to you and prevents you from going back to work or in the event of your death. Like all financial plans, it has different coverage programs depending on the insurer and can be collected in a single payment or in monthly payments:
Profits:
Protect your family financially in case you go missing.
In most cases, the amount awarded to the beneficiaries is free of taxes and tax issues.
Possibility of modifying the policy and coverage to your tastes and needs.
Disadvantages:
Sometimes policies have a renewal period that is usually more expensive than what was contracted, the older it is, the more expensive it is.
Maintenance and renovation costs are usually taken from the amount saved.
The amount can only be collected under certain clauses of death, terminal illness or disability.
Investments
Investing in something that in the medium and long term will generate profitability, soundness and financial security is possible. As with savings plans, there are currently a variety of options to invest, however, many of these alternatives have very high risks and require professional advice, such as investing in the stock market.
Profits:
There are a wide variety of real estate options in which you can invest, of different prices and characteristics, from residential lots, apartments, residences in the city or near the beach to industrial land, among others.
In times of crisis, real estate investments protect the value of your investment, and with inflation in most savings options, money loses value. Even in crisis the property value increases, protecting your money...
Discover more in this video.
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