I Head. A united family, which we got to know through their dreams, projects and experiences. When we presented them to you, each of them was at a different point in their journey, each with different needs and projects, but at the end of the story they all achieved the desired results.
The story of the Testas, grappling with situations of a personal financial nature, tells us that with perseverance and information, the desired results can be obtained. Sure, we know that obstacles, especially mental ones, are around the corner, but the solution is always found.
Here, then, is the take home, the main lessons that the history of Testa has given us:
-
Don't leave your savings stagnant in your checking account
When we leave our savings "parked" in the current account, the risks we face are many. First of all, inflation can prove to be a real worm for our money in the long run, eroding its purchasing power. Furthermore, interest rates have come down quite a bit in recent years (they are often negative). , so what can yield from the current account is certainly less than the return that a good investment can offer.
-
Never put off until tomorrow what you could start doing today
Do you remember Elena? Hers Her dream of opening a bed & breakfast in Tuscany it was realized, but at the beginning the enterprise was hindered by the low initial liquidity. This is because Elena has continued to postpone the investment, convinced that she has a lot of time available. However, her son Marco's story teaches us that even thanks to the investment of small sums, for example through a fund, it is possible to avoid postponing see you tomorrow what we can start today: the sooner we invest, in fact, the longer our time horizon will be and the more consistent the return on our investment.
Il take home it also applies to the younger ones, in particular with regard to retirement: as Giorgio teaches us, as a pensioner you often cannot maintain the same standard of living as you had when you worked. For this reason, a supplementary income is ideal if you don't want to give up your habits.
-
Beware of cognitive biases: learn to defend yourself
Elena's excessive confidence, which at the beginning of her journey turned into an ineffective do-it-yourselfer, or her husband Giorgio's excessive optimism, who focused only on the present, are two cognitive biases with which they had to deal with Heads. Cognitive biases that put us on alert: our mind often attracts us into real behavioral traps that do not allow us to face investments with the right amount of rationality. That's why it's important not to panic, but, aware of your weaknesses, contact a financial advisor and listen to his advice, just like you do with a coach sporty, a personal trainer. Thus the fly of cognitive bias that is buzzing around us is swept away.
-
Invest today for our tomorrow
With the arrival of little Testa, Marco had many thoughts: the mortgage and all the expenses that the arrival of a child entails. The idea of embarking on an investment initially generated panic: the fear of not having much money to invest and of losing what you have. This often leads to a decision not to invest at all. Serious error. Because instead there is a method: PACs. Capital Accumulation Plans, in fact, are an excellent way to invest starting from small sums, ideal for those families who are starting a new life together and who do not have large capital . Even 100 euros, paid consistently on a monthly basis, can lead to a really good result.
-
Building a portfolio with goal investing
Let's remember Mario Testa, Elena's father. Mario, retired full of energy, decided under advice to build a portfolio income in order to obtain a supplementary income that would allow him to live his passion for traveling around the world. When building a portfolio, or when deciding what theasset allocation, that is, its structure, it is important to take into account the logic of goal investing: what do I invest in, what is my need and what is my ultimate goal? Each goal, in fact, requires a different strategy. The time horizon must also be modulated accordingly, such as when Mario, who decided to invest for his great-grandson, switched from a short-term perspective to a long-term one.
SOURCE: Advise Only
