Experts Advise Instilling the Habit of Saving.

(MENAFN- Costa Rica News) Every year, in Costa Rica, October is considered the month of savings; that is why the experts from the ACOBO financial Group recommended taking advantage of that moment to start saving money . In this way, other people are encouraged to convert this action into a habit and at the same time consider investment Funds as an option to obtain better returns on their savings.

Currently, Investment Funds are one of the financial products most sought after by people to save , since their returns allow their money to obtain more profits, but for this to be successful several rules must be met, as explained by Jorge Corrales, Portfolio Manager of Grupo Financiero ACOBO.

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“The first step is to set the goals you want to achieve with savings. By having a clear objective, it is easier to find the right products that allow you to meet them, in such a way that you are aligned in terms of risk and return. Perhaps the main error by which savers fail in their objectives is when there is a distortion between the expectations they have to save on the product they obtain”, added Corrales.

Grupo Financiero ACOBO offers alternatives according to the needs of each client to convert that money into an investment, such as the Fondo a la Vista, in which you can choose between colones or dollars and start from ₡ 25,000 or US$ 50.

This fund is aimed at periods of less than one year, as it allows obtaining the money to meet short-term objectives such as the marchamos, school savings, upcoming vacations, among others.

For those who want to invest their savings in the long term, with the possibility of generating higher returns, one option is the Future Fund, which is recommended for terms of more than 2 years and can also start from ₡ 25,000 or US$ 50.

The difference between saving and investing is that saving is saving a part of your money for future needs, while investing is placing that income where it can project a growth rate.

On the other hand, as the Christmas bonus payment approaches, the recommendation is to save at least 10% of the resources received. In addition to these financial funds, ACOBO has the Stock Exchange, which is in charge of managing the investor's assets in national and international stock markets, under the line of agile and personalized advice.

It also has the Real Estate Fund, which makes it possible to collectively invest in real estate for leasing, with the possibility of obtaining profits from monthly rentals and building revaluations; it is ideal for long-term investors. World Savings Day

On October 31st, the World Savings Day was commemorated. The call of the experts was to maintain the habit through a defined goal.

“Another very important factor is to keep in mind what the goal of saving is. When saving to save, the commitment and motivation is lower than when saving money with a more defined objective, such as a trip, opening a business, buying a house or a car”, commented the ACOBO Portfolio Manager.

Likewise, Corrales was emphatic that one of the most common mistakes people make when starting a savings or investment plan is to believe that they can obtain a very high return without assuming a greater risk.

“In finance, rule number one is that to get a higher return, you have to take a higher risk. Therefore, it is not advisable to invest in products that offer a very rapid growth of savings or a very high profitability without understanding that said product must be equally risky.

It is better to be informed, have clear risk and return expectations, understand that it is a process of perseverance and not speed”, concluded the expert. How to get more out of your savings?

When people have sufficiently mature savings and want to start with an investment plan, or want to start investing with accessible amounts, they can do so successfully by following these recommendations:

Define the risk profile – This step is essential to define each type of investor, and thus, be able to offer the necessary products to meet your goals.

Inform yourself- Each investor has the right to have an advisor clarify all his doubts about the instrument that he is going to use, so it is necessary to clear all his questions before investing.

Examine risks – It should be considered that the more profits you want to obtain, the greater the risk that must be assumed and understand that it is a process that requires perseverance.

Consider investment terms and objectives – It is important to determine how long the invested resources are going to be maintained, whether in the short, medium or long term, in accordance with the objectives.

Diversify – This process consists of distributing investments in different products to avoid“putting all your eggs in the same basket”, so advice is ideal to reduce risks.

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• economy costa rica
• experts
• Future
• Habits
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