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10 tips for investing this fall

18 Oct 2021

For some months now, you may have already heard about economic revival and recovery. You may be wondering how you yourself can improve your finances and put that amount you have set aside to work for you. Would you like to invest? In this article, Elliott Locke, ACSICo-Founder & CEO of abroadenthe investment and financial advisory platform for people living and working abroad, gives you up to ten practical tips so that you can do it without getting your fingers caught. In March 2020, the economy suffered a sudden turnaround as a result of the Covid-19 standoff. However, since the beginning of this fall, it has become clear, according to Elliot, that the recovery may be faster than expected. Even so, it is important to know that there are certain risks when investing and that we should bear in mind when making forecasts about what the coming months will bring.  

Without wishing to be doomsayers, let's review the possible risks

One of the main risks at the moment is that there is high inflation, which should come down in the coming months. Although, as Elliott explains, economists recommend inflation of around 2% to continue generating wealth, the figures we have at the moment range between 7% and 8%. Secondly, our speaker predicts that bottlenecks in supply chains will continue to occur. This situation could worsen in the run-up to the Christmas shopping season. And finally, there is a perfect storm going on where energy prices are going up and this is a factor that we need to take into account when making decisions on how to invest.  

And now, put those savings to work for you.

Elliot Locke offers the following ten tips to help you lose your fear of investing and do it as normally and calmly as possible:
  1. Take a deep breath. As Locke says, »economics is not so much about numbers as it is about psychology, about how we interact with it.»
  2. Embrace changes in mentality. We always tend to take our parents as our main reference. But no matter how successful they were, the conditions in which they made decisions are not what they are today.
  3. Pay yourself first. One of the main tips. Make sure you have all your needs and wants covered, then you can think about investing.
  4. Clarify concepts. Saving is not the same as investing or trading. trading. It is important that you know what you want to do.
  5. Manage financial risks. According to Locke, human beings are masters at managing non-financial risks in our day-to-day lives. Apply some of that philosophy to economic decisions.
  6. Make peace with currency exchanges. No matter how much you spend the day refreshing the conversion page, nothing assures you that you will get a better exchange rate, relativize.
  7. Be well informed about investment programs. There are programs such as the Buy Now Pay Later that may compromise the 'Pay Yourself First' principle. Be aware of their risks and benefits.
  8. Beware of bubbles. They are fun to follow and exciting but be careful, play only with what is left over after you have covered your needs.
  9. Pay attention to your energy expenditure. Incorporate small actions to promote sustainability in your daily life.
  10. Don't leave shopping to the last minute. Your loved one could be left without their gift, and we don't want that.
  If you want to know more and listen to Elliot Locke's argument, you can watch it in the following video recorded during the session of Aticco Learning at Aticco Bogatell???? Aticco Learning : How to make money decisions postpandemic while living abroad - YouTube

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