WHERE TO INVEST MY SAVINGS? (OPINION)

What risks to take?

A retired man once told me he had his money invested in the bank; I asked if it was “saved” in the bank or invested. Even though the words didn’t mean much to the man, there is a huge difference.

Banks offer financial products that tend to catch people’s attention, but most of the time the minimum amount to access these products is not as affordable.

In general, there are many options for a person to place their resources and obtain in return attractive benefits. There are investment funds, cryptocurrencies, shares, loans, etc. In general terms, it is convenient to diversify.

The economic and health crisis conditions of the last 18 months have led companies to flunk or foreclosure, there are however many more that have endured and are preparing for an imminent recovery.

Because of this, there are opportunities for those who have the possibility of investing directly in companies, particularly those in Yucatán.

Take a chance investing in companies and projects based in Yucatan or the Yucatan Peninsula.

Whether it is by investing in shares or loaning money to these companies, it is the opportunity to do something so that the economy of the area can reactivate and advance.

To place resources in local companies, it’s highly recommended that it be done through professional channels that guarantee legal certainty, the return of capital, and attractive benefits or interests. There are legal and financial procedures that make it important to proceed in these activities under experts’ care.

What was my recommendation to the retired man? Allocate a percentage of your assets to invest in two business projects in Yucatán. The first step is to diversify, increase your return and dilute risk.

IRVING TIP. To give money to a company or a business project, it is recommended for it to be done within a framework of legal and financial producers that give legal certainty, return of capital, and attractive returns for the investor.

by Irving Alberto Escalante Castillo

irvingescalante@gmail.com

Irving Escalante is a public accountant from the Autonomous University of Yucatán. Master’s in business administration with a specialty in Finance from the Tec Milenio University.

He has 20 years of experience in leadership of teams for the planning and execution of business projects, crisis management, and corporate finance. He has collaborated with companies such as MEGAMEDIA as a Director of Administration and Finance, is a partner of CONSORCIO’s office in Finance and Business division, Co- Founding Partner and Executive Director of the Institute of Tax Education IDET CONSILIUM, a training company specialized in legal and tax issues, patrimonial, and CEO of PROVIFIN, a financial linkage firm that operates investment and direct loans to companies and business projects.