We all aspire to buy the car we love, the house of our dreams or take the trip of a lifetime and get lost for two weeks in our favorite destination. The question is how to achieve it. Today we will explain why savings insurance is the perfect way to accumulate enough money to be able to fulfill our desires.
Current savings capacity
When we talk to a customer about whether or not they save, in many cases the answer is yes.
Actually, there are many of us who are lucky enough to be able to save some of our salary for the future.
This article showed how most young people save every month (more than 100 euros on average).
The problem lies in what formula we use to save: most of the time, the money stays tied up in the account. We were talking a few weeks ago about how inflation was coming back and the mistake we make if we do not invest to get some return.
The problem of loss of purchasing power
If we do not look for alternatives to make our money profitable, we will be losing purchasing power. We explain it in a very simple way:
- 2% inflation: goods are more expensive than before
- I do not invest my savings: they appreciate by 0%.
- I lose 2% purchasing power due to the immobility of my money.
We must avoid this if we do not want to “impoverish ourselves” by being able to buy fewer things with the same money.
Savings insurance: the solution to the problem
In view of this need to encourage people to save for their future, products were developed to help initiate savings. These products are called:
- PIAS(Individual Systematic Savings Plan)
- SIALP (Individual Long-Term Savings Insurance, also known as Savings Plan 5)
- PPA or PPI (Guaranteed or individual pension plan)
These are the 3 types of products that have a number of common elements:
- All of them have some kind of tax advantage (either in the contribution or in the redemption).
- They have an annual contribution limit
- They can be guaranteed products or linked to investment funds (whichever the client chooses).
Our Savings and Investment Department can help you choose what best suits your personal situation, write to us. Our specialty is savings insurance in Zaragoza, you will find us there.
