When we think of investments, we tend to believe that we will not see their benefits until a long time later. This is true only when we talk about long-term goals. However, there are many short-term goals in which we can invest and see returns in less time. Although thinking long-term is not bad, how can we take advantage of our investments in the future? While we build our future, we can enjoy our present and make long-term investments if we stop working. Here we give you a couple of tips on how to achieve it.
Also read: Your education as an investment
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Long-term financial goals
Investments work in various ways depending on their terms. Normally the objectives we have set us the guide. What do you want to achieve: stability, travel, a house, a car, start your business? Any of these options is valid. However, not all take the same time or the same investment. That is why it is good to spread them in different terms and with a clear strategy. Take this into account when designing your financial goals.
There are a couple of long-term goals:
- Get houses and properties.
- Generate and establish your own business.
- your retirement plan.
Although the first two can be achieved in different periods of your life, depending on what stage you are in, it is undeniable that retirement will come. We must be prepared in the best possible way. That is why it is key to invest in this for the long term.
Future investments: Retirement
Retirement is one of the long-term goals that combines saving and investment. Both factors must go hand in hand with a good financial plan to be beneficial. Precisely, this is one of those investments whose return we will not see for a long time. That doesn’t mean it’s less important or unnecessary. Quite the contrary. If we do it correctly, investing for retirement should not suffer and, on the contrary, it will relieve us of future headaches. You can read a guide on how it works and we also leave you with a couple of tips:
- Start saving on your own
- Check the different schemes out there.
- Compare the information
- Set clear goals and objectives
- Generate extra income that you can also save as you acquire more capacity
Future Investments: Retirement Schemes
There are different products and financial tools that will help us with retirement. Depending on your age and your conditions you will have access to different schemes. In Mexico, the new generations no longer have pensions, but there are other options.
Here are some of the options that exist and how you can take advantage of them:
- AFORES: The AFORES are Administrators of Retirement Funds that are linked to the weeks that you contribute to the IMSS or ISSTE if you are a Mexican worker. They can help you if you are no longer part of the law of 73. In addition to knowing how they work, you can make contributions and improvements so that they will serve you better in the future. Here you can find a guide with information about it and take the opportunity to see other options.
- SAR: The Retirement Savings System. They are benefits protected and regulated by the Social Security Law that benefit workers through constant savings: life insurance, retirement, advanced age, unemployment and old age. If you want to know more, you can go to this link.
- Retirement insurance: Finally, it is also a good option to access private life insurance. Compare the different options on the market. There is probably one that fits the financial goals you have. This way you will have an extra contribution so that the retirement age does not take you by surprise. Take advantage of the fact that you are already working today, to rest tomorrow.
Future investments: When they are close
Now, if you are already at a stage where this does not mean such a long-term investment, there are also options. You can improve your pension schemes through different financial tools. This allows the amounts you receive at the time of retirement to be more attractive.
An example of this is the Consubanco program called Pensionaplus. Through this tool, you will improve your pension possibilities. Here are some of the requirements to see if you qualify:
- Being 60 years of age or older
- Have contributed under the Law of 73
- Have less than 500 weeks quoted before the IMSS
- Not be currently trading with the IMSS
We have an article where the process to be part of Pensionaplus is more detailed. So you can access these benefits. You can also delve more directly into their page and thus improve your future.
The future is always closer than we expect
As you can see, future investments can be varied, but the important thing is that they are necessary. Everyone pursues different goals. However, those that are larger will take us more time. In financial matters, patience is a virtue that we must develop. Although we have plans and objectives in the short and medium term, it is necessary to learn to cultivate long-term rewards. These will help us and will be like a gift to our future selves. Think that you are facilitating your person’s future at some point. Leave your money working in the background and take the opportunity to start saving and investing in what you want. When you least expect it, your efforts will bear fruit and you will be able to enjoy what you have built.