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Game changer: Financial security in an insecure market

Filed on October 26, 2020

Standard Chartered's House Views and collective expertise on rigorously diversified investment portfolios can sail you through a choppy, turbulent economy, and help anchor you securely on your wealth management journey

Have you ever thought of investing during the fiscal challenges wrought by Covid-19? Many would say that no investor would emerge unscathed from this global economic downturn. And yet, perspectives from leading institutional wealth management specialists suggest that as destructive as the pandemic might be to an investor's portfolios, it could also be a perfect time to sow the seeds, invest, and let the unpredictable bull run, albeit with resilience, defense, agility, and needless to say, assistance from experienced wealth specialists.

Money management is not a nascent concept: Save the surplus in trickles so that in rainy days when life comes to a complete standstill, when you are plagued with unemployment or pay cuts, your teensy but secure piggy bank can keep your ship afloat. A word of caution though: If you are short on time and confused with the large volume of market information, do not speculate blindly and dump your funds in 'possibly' great returns without doing your homework. Instead, for successful savings, consult an experienced wealth management specialists to talk to you about market views and relevant investment opportunities for you based on your risk profile. Remember, a secure platform is sacrosanct.

The Global Investment Advisory Team at Standard Chartered taps into its extensive network and resources to offer collective expertise on global investment opportunities and provide timely and actionable insights to not just business owners or corporate leaders, but also to employees like you. So that you avoid putting all your eggs in one basket, make informed decisions and invest your hard-earned money to achieve financial growth, freedom, and stability, regardless of life's unpredictable nature.

Therefore, remember to seek assistance from an established institution like Standard Chartered to ensure that you not only follow, but also implement each of these fundamental fiscal guidelines and strategies listed below, to successfully embark you on your financial journey.

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Change your mind-set: Automate your earnings

Most of us fail to understand that it is not how much money we make, but rather how much money we save that makes our wealth. Your monthly earnings can only be considered 'wealth' if you can transform a part of your pay package into a source of investment for long-term financial independence. Therefore, stick to a smart habit and automate your earnings. Once you are committed to investing your earnings, the best way to stick to it and ensure that an amount from your bank account is sent directly to your investment account every single month!

Set realistic, specific money goals: Do the math

If you want to build your wealth to secure yourself financially during turbulent times, you must have a clear goal, a specific plan, and hard deadlines. Note down what you hope to achieve if you have disposable cash lying around and ensure that your specific money goal is achievable, that you believe in its possibility as realistic and doable. Crunch the numbers and do the math to create an investment strategy.

Identify expenses: Cut back on splurging

Take a long hard look at your income and see where it is being spent, besides the basic necessities. Write down what activity you can easily let go for the better good - dining out, spas, future travel plans, etc. Focus particularly on three specific expenses like housing, transportation and food. If you can limit these, you will carve an achievable channel from where your big-time savings will come. In simple words, cut the temptation to binge on the big, fat burger. Instead, choose a standard healthy portion!

The magic of compounding: Invest your cash

Now that you are ready to go through with your lifestyle sacrifices, do not just up your savings rate - put your extra cash to work. Remember, the sole reason to save money is to invest your savings. Therefore, set aside an amount every month and keep investing. Compounding your wealth by investing with a reputed brand like Standard Chartered may help your earnings blossom into something bigger, better, and sustainable, especially during an economic crisis.

Sort out the right data: Get professionals help

Most people have constraints on time. Faced with a large volume of market information, it often becomes a challenge to organise and extract real, relevant, and promising data. There is no need to fret with information overload. Trust a professional institution like Standard Chartered. Its latest product House Views takes on this Herculean task of providing you with collective financial insights for a clearer look at current market trends so that making an effective investment decision in your wealth management journey becomes nothing short of a cakewalk.

Don't put your eggs in one basket: Invest in multiple streams

Developing multiple streams of income through a diversified portfolio will significantly reduce risks of losing your investments in one go. Opt for the right set of banking products that will not only keep your hard-earned bread secure, but also help it grow. Remember, if you want to make big money, you cannot risk your investment by putting all your funds in one single window. Diversify and invest in multiple flows of income.

Securing financial stability is crucial. Therefore, if you want to make the best of this turbulent economy during one of the world's greatest pandemics, Standard Chartered Bank's wealth specialists are a great place to start. Remember, market conditions fluctuate, so ensure you have the right strategy and help.

For more information please visit: www.sc.com/ae/investing-in-turbulent-times

This content comes from KT Engage, the brand marketing unit of Khaleej Times.