Once the most urgent overdrafts have been settled, it may be a good idea to deal with long-term debt
MADRID, 21 Dic. (EUROPA PRESS) -
XTB, a global investment platform, provides a series of recommendations to, in the event of being awarded a Christmas Lottery prize, ensure financial stability for the future and get the most out of the money won.
The global fintech specialized in investment highlights, first of all, the option of reducing debt, and then investing the remaining assets. Regardless of the risk profile or personal situation of each person, the broker highlights that there are certain recommendations that can be followed by all audiences.
Thus, it points out in the first place the reduction of debts. "It is advisable to start with those that have a higher interest, such as credit cards, personal loans or vehicle financing," explains Joaquín Robles, XTB analyst.
Robles relates that, once the most urgent overdrafts have been settled, it may be a good idea to deal with long-term debt. "Like mortgages, which, although they have lower interest rates, can involve a higher cost as the outstanding capital is much higher," he warns.
The XTB advice guide also emphasizes the importance of investment. In this sense, he explains that there are three alternatives that stand out above the rest.
First of all, investment in fixed income. With the recent rise in interest rates, it has gained appeal, with products such as interest-bearing accounts or deposits with returns between 2% and 4%.
Secondly, variable income. "In this case, the best option is investing in large global indices, such as the MSC World, the S
Robles relates that, thirdly, it would be advisable to opt for real estate investment, "because, although prices are skyrocketing, there is no reason to think that they are going to collapse."
XTB's next suggestion is to save. "There are other ways to obtain a 'jackpot' prize without having to win the lottery, but they require a great capacity for savings and discipline," says Joaquín Robles.
Referring to the recent survey carried out by the broker, six out of every ten Spaniards manage to save an average of 285 euros per month. "In the event of investing all that savings in an ETF of the S
The global financial technology company goes on to explain that "this highlights the importance of choosing the right product and the power of compound interest. That is, if we save 285 euros a month for 35 years, we will have 119,000 euros, but if we save We invest in a S ETF
The broker's last advice, once you are clear about where to invest, involves the importance of being faithful to a good strategy. "Trying to buy at lows and sell at highs will cause us to spend more time outside the market looking for the best time to enter, wasting the power of compound interest," concludes the broker's analyst.