Every December it is time to look back and take stock of the state of our domestic finances. On the one hand, inflation, the rise in rates and the resulting increase in the cost of mortgage loans have forced greater spending; On the other hand, the profitability of deposits, as well as fixed and variable income, has been rising... will 2024 also be a good year in general for investment?
Although the drums of slowdown sound, the economic outlook leaves room for optimism. Looking ahead to the coming months, it may be necessary to reinforce the emergency fund, especially if during 2023 you have had to dip into savings to make ends meet. Teodor de Mas, economist and author of "The Art of Making Money", explains in the podcast Pocket his formula to save 25% of his income and achieve financial freedom from scratch.
For this purpose, real estate investment is one of the favorites, as demonstrated by the strong boom that this market has experienced in recent years. But is it still a good time to buy? “If you want to invest, wait,” advised real estate advisor and consultant Gonzalo Bernardos, in addition to warning about the risks involved in living off rent.
If the plan is to buy a home to live in, finding the ideal apartment is not easy, since there are certain aspects that often go unnoticed. “We discard one in every five apartments because the reason for selling is a serious problem with the neighbors,” says real estate personal shopper Jordi Clotet, who guides us through the ins and outs of buying a home and making the right choice. But if the idea is to invest in real estate, it is not necessary to acquire one: there are formulas that allow you to enter this market with little savings and which is detailed by the investor and financial health researcher Esmeralda Gómez.
There are, however, other ways to make money more profitable beyond the billet. For example, the stock market. The investor and executive director of InbestMe, Jordi Mercader, has designed a portfolio so that his daughter Laia, little more than a mileurist, will have close to a million euros when she retires. The key is in the magic of compound interest.
Others make the stock market their modus vivendi and achieve attractive short-term returns. This is the strategy that, after suffering a serious health problem, Francisca Serrano decided to follow to be less dependent on a salary. However, not everyone is suitable for trading nor is it advisable to engage in this type of investment without proper training.
An alternative path to earning passive income is to buy shares in companies that pay dividends. A way with which Juan Eugenio Cortés, better known as “The Dividend Crazy One”, hopes to leave his job before he is 50 years old. While the founder of The Investment Club, Andrea Redondo, explains the recipe that has allowed her to achieve financial freedom at an early age.
Earn money? Yes, but not at any price. "I have rejected clients who wanted me to exacerbate their ambition and greed," says economist and writer Raimon Samsó, who defends that we must learn to get rich without losing sight of our values.
Pocket is a biweekly podcast that offers information, experiences and advice to learn how to better navigate the complex world of domestic finances. You can listen to and subscribe to the podcast through audio platforms such as Spotify, iVoox, Apple Podcast, and Google podcast.
If you want to contact the Bolsillo de La Vanguardia team to participate in future podcasts or suggest any question about finances of interest to you, you can send an email to pocket@lavanguardia.es.
