The experts give six recommendations on how to take care of the savings.
1) Analyze your investor profile. Before making any decision, think about the risk you are willing to take.
2) Do not put all the eggs in the same basket, that is, diversify to get the most out of your money and, above all, to minimize the risks.
3) Think about the term you want to invest and for what purpose you want to do it. When you collect the prize, consider what you want to do with it: liquidate your debts. Guarantee you an extra income for the day of your retirement. Maximize your savings thinking about your heirs. Pose these questions and, in addition, analyze the time you can live without touching the prize. Money will help you make the right investment decisions.
4) Find out about the liquidity of the products you want to invest in. Before investing what you earn, you need to know if it is easy to recover the money. If you can do it at any time and if, for that, you will have to pay some type of penalty. For example, there are products with total liquidity such as paid accounts. However, they offer a lower compensation than others do that will make your money trapped during a certain period. In other cases, as with stocks or mutual funds, you can get rid of your investment at any time. You will not have the guarantee that you will recover the investment.
5) Beware of the taxation of investments. The taxes you will have to pay for the money you earn through your investments vary depending on the product chosen. For example, deposits and investment funds are subject to the same tax: 19% if the earnings are less than $6,000; 21%, if you win between 6,000 and $50,000. 23% if that amount is exceeded. However, the way to apply it is different so that, fiscally, some products can be more interesting than others can.
Establishing a minimum wage by law or uploading it does not make much sense. The salary linked to the worker’s contribution in the productive process of a company. Therefore, establishing a minimum wage is the same as establishing minimum levels of productivity for the worker. There is a tendency to sell the minimum wage as a measure to protect unfavorable groups with the premise. That by increasing the minimum wage a better welfare situation will offer. However, given the link to productivity levels, what obtained is discrimination against those workers whose marginal productivity is below the minimum wage.
6) Ask for help from an expert. Going to an accredited and independent financial advisor will help you to manage the award, according to your needs and objectives.