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2024 brings new opportunities to make savings profitable. From the stock market to debt, through deposits or gold, the good thing is that you no longer have to take so much risk to achieve it. Some do it so well that it turns out that at 40 they can live without working. Long before retirement, is the real golden retirement?
Fixed or variable income? The new rate landscape leaves more options for all types of profiles, from conservatives to those seeking more profitability. A difficult year was feared, but finally the clouds have been clearing. Where will there be opportunities? A good technique is to look at what the richest people do with their money. Between the search for refuge and speculation, gold is also experiencing good times: knowing if it is time to buy or sell it is the question to be resolved.
Pay attention to digital. Bitcoin has been stealing many headlines for years. Also robo advisors, algorithms that invest for you, NFTs or digital housing investment platforms. They are the new ways to make money profitable. Of course, digital alternatives have greater risks and factors to control, such as the protection of deposits or the life of the project, to get the maximum potential from them.
Safe savings. The stock market and debt have their risks. For the most conservative, there are deposits and interest-bearing accounts that already pay more than 4%-5%. And just by changing the bank payroll you are eligible for a gift of up to 500 euros in cash, better than other alternatives if the capital is short. To be safe you also have to be clear about what is going to happen in the year. Events appear that can sour the party. AI, wars, elections... These are the key factors to watch.
Live without working. For some, things are going so well that at the age of 40 they have already managed to retire and live on income (Podcast). It is the so-called, and longed for, financial independence. Another option of one of them is investment focused on hunting dividends. In addition to living more comfortably, one is happier: "Only if you have a little financial freedom you will be much better than before and you will enjoy life more," explains Andrea Redondo, head of El Club de Inversión.
Overall improvement. More details on next year's pension increase. Once the general increase of 3.8% is known, with an average increase in retirement of about 740 euros per year, starting in January widow's benefits will also increase by up to 14% and the minimums for other items by another 7%. Everyone happy. Or not... Pension plans continue to lose volume in recent years, perhaps because it is an attractive product especially for high incomes.
Boom on the bologna. The product is experiencing growth in sales after inflation has eaten up purchasing power on both sides of the Atlantic, with purchases skyrocketing in the US. Substitution effect? And that in its day it was worthy of nobles and potentates.
Another way to save is to control expenses. The growth of entertainment platforms has skyrocketed spending on subscriptions. Lack of management has created fatigued and sleeping customers. Between Netflix, Amazon, Disney and others, are you one of them?
