Not investing in the year 2024 is a grave mistake. The Philippines is one of the fastest-growing economies in Asia, with a projected GDP growth rate of 6.5% in 2024. This growth is fueled by several factors, such as the strong domestic demand, the steady inflow of remittances from overseas workers, the real estate market Philippines, and the massive infrastructure spending by the government. These factors create a favorable environment for investors, who can benefit from rising incomes, improving public services, and increasing opportunities in various sectors.
In reality, investing in 2024 is not without challenges. The market is constantly changing, and the pandemic, though subsided has added more uncertainty and volatility. Investors need to be prepared for any scenario and adapt their strategy accordingly. They also need to be smart about their investment choices and avoid the common pitfalls that can derail financial goals. There should be a clear plan, a diversified portfolio, and a long-term perspective.
To help achieve the best investment outcomes in 2024 in the Philippines, Crown Asia, the premium arm developer of Vista Land and Lifescapes has compiled some over-the-counter tips that can guide and optimize returns. These tips are based on the latest market trends, expert insights, and proven best practices.
Whether a beginner or a seasoned investor, these tips can help make the most of money in 2024.
1. Diversify That Portfolio Now
One of the golden rules of investing is to diversify a portfolio or spread money across different asset classes, such as stocks, bonds, mutual funds, UETFs, REITs, and more. This way, one can reduce the risk exposure and balance out his returns. For example, if the stock market is volatile, the investor can still earn from his fixed-income investments or real estate trusts. A diversified portfolio also opens the opportunity to take advantage of the various opportunities in the market, such as the booming renewable energy sector, the growing demand for digital services, and the increasing popularity of cryptocurrencies.
2. Invest in long-term and high-potential projects
Another tip is to invest in long-term and high-potential projects that can generate steady and high returns over time. These include infrastructure projects, such as roads, bridges, railways, airports, and seaports, that can improve the connectivity and mobility of the country. The government has allocated P1.5 trillion for its Build, Build, Build program in 2024, which aims to boost the country’s economic recovery and resilience. Investing in infrastructure projects can also benefit from the tax incentives and regulatory support from the Board of Investments (BoI), which is eyeing up to P1.5 trillion in investment pledges this year.
There is also the option to invest in properties, as real estate Philippines is one of the most resilient and lucrative sectors in today’s market. Despite the pandemic, the property market has remained stable and attractive, thanks to the low interest rates, the strong demand from the BPO and e-commerce industries, and the increasing preference for flexible and sustainable spaces. Investing in property can also provide investors with passive income from rentals, capital appreciation, and tax benefits.
3. Learn and Seek Professional Advice
One of the best ways to achieve your investment goals is to educate yourself and seek professional advice. Investing is not a one-size-fits-all endeavor, and it requires careful planning, research, and analysis. Investors need to understand their risk appetite, their financial objectives, and their investment options. It would be best if investors also kept themselves updated on the latest market trends, news, and developments that can affect their investments.
Moreover, they need to consult with experts, such as financial planners, brokers, or advisors, who can guide them and help them make informed decisions.
4. Automate your savings
One of the easiest ways to save more money for investing is to automate savings. Investors can set up a regular transfer from a checking account to a savings account, or enroll in a payroll deduction scheme that automatically deducts a portion of the salary and deposits it to their investment account. This way, one can save without thinking about it, and avoid the temptation of spending money on unnecessary things. Automating savings also helps investors to achieve their financial goals faster and easier.
5. Use a High-Interest Savings Account
Another tip is to use a high-interest savings account for emergency funds and short-term goals. A high-interest savings account offers higher interest rates than a regular savings account, which means investors can earn more from money while keeping it safe and accessible. They can also take advantage of the compounding effect, which allows their money to grow exponentially over time. A high-interest savings account can also protect money from inflation, which erodes the value of money over time.
6. Consider Cashback and Reward Apps
Investors can also save more money by using cashback and reward apps that give them incentives for their spending. Cashback apps allow people to earn a percentage of their purchases back in cash or credits, which they can use to buy more things or invest. Reward apps give points or vouchers for completing tasks, such as answering surveys, watching videos, or shopping online, which people can redeem for cash or gift cards. These apps can help save money by reducing the expenses and increasing the income.
7. Invest in Self
Lastly, the best investment investors can make is in themselves. They can do this by learning new skills, acquiring new knowledge, or pursuing their passions. Investing in themselves can help increase earning potential, enhance career prospects, and improve quality of life. It is also important to take care of health, wellness, and happiness. This is important in avoiding costly medical bills, reducing stress, and enjoying life more.
Securing Financial Future
Investing in 2024 in the Philippines can be rewarding and fulfilling, as long as you follow these tips and apply them to your situation. Remember, the key to achieving the best investment outcomes is to diversify portfolios, invest in long-term and high-potential projects, learn more, and seek professional advice. By doing so, investors can maximize their returns, minimize risks, and secure their financial future.
