The ups and downs of the Argentine economy have been going on for several years now. So many that we have really gotten used to living in constant tension. This typical volatility is usually accentuated in election years and, for many people, it can become a deep uncertainty as the date of the general elections approaches and the political campaigns and proposals gain temperature.
In these cases, the question that personal finance specialists hear the most is What is going to happen? Another option may be how do I protect what I have? Or, directly, a more technical one: I have some pesos, where can I invest them? Unhesitatingly evading the prognosis or futurology of the first option, we will stay with the other two alternatives, on which it is worth emphasizing. The reaction to “protect oneself” is closely related to the conscious, organized and planned.
In turn, these actions are usually developed under the tutelage of education, the element that gives meaning to everything, also in finances. Precisely, it is in times of a certain economic frenzy when more calm and planning is necessary so that these sudden movements do not hit the target that means never having made financial decisions.
Far from speculate with the political color of the government in powerwith what will happen with the dollar, with our money in the bank or with inflation, the individual must put together a solid plan in terms of contributions of money and terms for the construction of a capital that gives him enough freedom in the face of those imponderables .
It is important the flexibility and, especially, the variety of the tools that we choose, since in contexts of sudden changes or inflation, the individual can modify these contributions and re-adjust the range of financial tools chosen.
The critical look at our economy and the assembly of a portfolio Planned to measure is the factor that will make the difference and will accompany us in our projects. Of course, always measuring the variables in the binomials time and risk; flexibility and liquidity; profitability and guarantees.
What we talk about when we talk about planning. Once the theory and the goal are in tune, it’s time to take action and explore the available financial tools in more detail.
To start operating in the capital market, you need a principal account, which can be obtained from brokerage firms. Then, we will begin by contributing an amount that a suitable adviser must operate (it is not advisable to manage your own capital, since emotions influence the investment too much). Among the possibilities, you can choose to make sureties, common funds, acquire shares and put together a diversified plan with different profitability expectations.
Life insurance is contracted in specialized companies, is deducted from Income Tax, is not taxed on personal property, is executed in pesos at the official dollar value, and does not enter into inheritance proceedings. It is the essential tool to shield our capital construction, which will serve to face an unforeseen event, such as a serious illness. And, primarily, it will also offer important protection to family members, if required.
In parallel, we can build capital while being labor productive. This building will be our net income in the future. This option is offered by retirement insurance, designed to sustain the quality of life at the end of the work career. Through an approximate monthly contribution of 10% of income, this tool will carry out a specific job whose benefits will be obtained in the long term.
Gabriela Totaro is a psychologist and financial educator.
by Gabriela Totaro
