You are young and have no experience? Don’t worry! We might not find you an employer, but we will give you a chance and resources to enjoy your life in a dozen years or so.
Standing at the threshold of a professional career, you do not think of what your earnings will look like in several years or decades. When making decisions about choosing your first job, you do not think about whether it will be able to guarantee stable income over the decades to come. So far, however, before filling your wallet with golden credit cards and your account with six-figure amounts, you should be cautious and show common sense!
So maybe it is better to reduce spendings and start saving?
The answer is clear: obviously, it is better to start saving as soon as possible. But why? Contrary to appearances, even small, but systematically deposited amounts (properly invested) can bring considerable profits in a few decades. With time, these profits may prove to be one of the most important sources of your income. Because, in the process of saving, the duration of collecting money is as important as the amount of contributions: the longer it lasts, the greater the chance of accumulating considerable capital.
How to choose the best way of collecting long-term savings?
The best and easiest way to ensure oneself financial security is saving with an investment fund or an insurance company. In fact, your money does not lie idle in your account, but is invested.
The first step to start conscious saving is the choice of an appropriate investment company that meets your expectations as to the amount of payments, the duration of the saving process, availability of information on what and at what risk you will invest in, or the presence of additional fees and their amounts.
While examining investment companies operating in the market, you should pay special attention to the quality of their products and services, as well as the market position of individual funds or companies. To make the right choice quickly and wisely, you might be willing to refer to publicly available ranking lists prepared by professionals in the industry, such as the investment fund companies ranking, published annually by the Rzeczpospolita journal in collaboration with the research company Analizy Online. Information obtained in this way allows selecting a fund most tailored to your individual needs and abilities.
How to save money?
Obviously, the sole idea of saving and thinking about future financial stability is clearly rational and right, regardless of age. The question is, though: which way of saving is the most efficient?
Does the Polish market offer a method for raising capital which allows you to simultaneously save money and enjoy your life?
The ideal offer for those who are wise in thinking about the future, but do not want to invest each and every penny, is an offer prepared by Union Investment TFI – namely, the Saving Plan.
What is the Saving Plan?
This is a programme for systematic capital raising, under which you pay the money you have saved to your register (the equivalent of a bank account, but in an investment fund rather than in a bank) on a monthly basis. You can choose between two basic options: in the first one, the money that you pay is invested in a single fund, and in the second one, it can be allocated in up to four funds. In both options you may choose the saving period of five or ten years. Formalities only take a moment – while signing an agreement with Union Investment representatives, you declare the frequency, amount and method of payments; you may choose between cash, bank transfer or fixed payment order.
Saving is the best choice for people with low risk exposure, since it allows obtaining revenue from deposited capital without high risk of potential losses. A Saving Plan at Union Investment is ideal for people who want to think about their future calmly, without worrying about money they saved.
Perhaps you are willing to take a risk, knowing that greater risk entails chances for higher profits. If, instead of safe splashing at the shore, you would like to immediately throw yourself into the deep end, start investing!
Union Investment offers a number of different manners to allocate capital. Depending on your risk tolerance and time period after which you would like to receive your first profits, we provide you with many options: from secure sub-funds (such as UniKorona Pieniężny), where your money will be invested in government securities with low fluctuations in value, to funds with very high level of risk (e.g. UniAkcje Sektory Wzrostu). You can focus on different areas of investment (from domestic markets to the markets of Central and Eastern Europe) and different currencies (from funds in PLN to EUR or USD solutions).