Dubai, United Arab Emirates, 17th February 2022: After the pandemic-related challenges of 2020, the UAE continues to demonstrate its financial tenacity and resilience, recording a strong economic finish to 2021 (attributed in part to the launch of Expo 2020).
This is hugely significant for the country as a whole, but has important micro-implications as well: with financial operating conditions continuing to not just stabilise but improve, bonus schemes are set to make a welcome return in 2022, with most companies paying these out in Q1.
While many will be rightfully celebrating this news, as the unpredictable events of the last few years have taught us, the need for financial planning and the importance of having a monetary back up plan in place is critical. With that in mind, the benefits (both in the short and long term) of investing a significant proportion of individual bonuses cannot be underestimated.
Digital wealth management platform StashAway MENA (part of the global StashAway group, which operates across Singapore, Malaysia and the MENA region) understands that for many, investing this hard-earned capital can feel incredibly daunting. Founded on the premise that “It’s time to manage your money on your terms”, the company pride themselves on their hyper-personalised approach and low-risk investment and cash management services.
Here they share their expert knowledge and offer an invaluable three-step beginner’s guide on what to do with your bonus.
Take a considered approach
Investing (rather than simply saving) is one of the best and most rewarding ways to see your money grow. There is no one-size fits all budget, approach or investment though and it’s important to consider:
In simplified terms, risk is associated with volatility. A high-risk investment is likely to see swings in the market which will inevitably work themselves out over time, so is better fitted to a long-term investment. If your goal is short-term financial reward, it makes more sense to stick with a conservative investment, where your money is less likely to be subject to market fluctuations.
Make it personal
Feeling secure in your investment choices is crucial; understanding where your invested money is, how it is being used and the associated benefits (and potential hazards) of this is pivotal to a positive investment experience.
StashAway’s ethos is very much focused on this simple but important premise; they cut through the jargon and provide solutions for investors that are goal-orientated, easy-to-understand and fit with specific lifestyles and budgets.
By combining a personalised wealth management approach with a data-driven investment framework and cutting-edge technology, StashAway are able to set up tailored monthly savings plans and personalised investment portfolios that will set investors (however big or small) on the path to achieving the financial future they want. Once all are fully aligned on these proposals, StashAway’s experts take over, navigating the markets and economy and allowing investors to focus on other aspects of life.
Grow your cash
Putting a lump sum such as a bonus into a saving account is of course sensible, but the savvier approach is for individuals to invest this money and ultimately benefit from a clear return on that investment.
While they always champion an investment-led approach, StashAway understand that people have different wants and needs and that these may change over time (for example, an investor may wish to withdraw cash earlier than expected). Based on this demand for flexibility and agility as well as results delivery, their cash management system StashAway Simple™ is one that that many investors, particularly those new to the field, may wish to consider.
StashAway Simple is a straightforward, ultra-low risk investment portfolio that is well suited to short-term investments, offering significantly greater returns than a traditional savings account. Not only is StashAway Simple™ low risk (The StashAway Risk Index for StashAway Simple is 0.1%. That means the user has a 99% chance of not losing more than 0.1% of their funds.), it’s also accessible and straightforward to use, operating under a simple fee structure that ranges from 0.2% to 0.8% depending on the value of your assets under management.
There are no set up, exit or management fees or requirements when it comes to minimum balance and bank deposits and withdrawals are processed within 1-3 working days. Not only that, the company estimate that investors earn a projected 1.0% p.a. on their cash. In short, the approach is uncomplicated yet rewarding from the get-go.
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