In order to save a million in six months, you need to work with two variables: the amount that needs to be saved and the profitability that can be received in these six months. Certified financial consultant and investor Tatyana Volkova told Izvestia about this. She gave some advice to Russians planning to save a significant amount of money.
“Let’s start with the amount. What should you do to get a million? [Во-первых,] make a mathematical calculation of how much to invest monthly to achieve this goal after six months. Secondly, based on this mathematical calculation, write a plan and brainstorm,” the expert noted.
The investor gave examples of several options for achieving the goal. So, according to her, you can try to ask for a raise from your employer, find a part-time job, change your profession, increase the cost of your services or the cost of your working hours.
“That is [необходимо] take action to simply increase cash flow. It is important to increase active cash flow and at the same time create passive cash flow, which will allow you to receive this amount,” she explained.
Speaking about profitability, she clarified that even for six months you can “make money work.”
“We are talking about both conservative instruments, for example the same bonds for six months, which can give 20% per annum, and aggressive ones. As for the second, here you clearly understand that the period is short, but the amount is large and you need to act quickly. You can study the mechanics of trading, trading and trade with some part of your capital,” the expert said.
The financial consultant emphasized that if the investor has an important goal (pay for treatment, buy an apartment, etc.) and he cannot refuse it, then it is not worth risking all the money in the auction. In addition, it is important to quickly gain knowledge that will allow you to use high-risk instruments with high returns – up to 5-10% per annum per week, she added.
“If investments are not suitable for you, you can choose some kind of commodity direction: buy cheaper, sell more expensive, and even within a month increase the amount of investment many times over. For example, you have 100 thousand rubles, you bought some goods with them, and sold them for 120 thousand rubles. Then we bought goods for 120 thousand rubles and resold them for 140 thousand rubles, thus increasing our profitability,” she explained.
To summarize, Volkova expressed the opinion that there are no unattainable goals. In six months, you can both earn a million and increase profitability through investment instruments, the expert concluded.
Earlier, on October 20, financial analyst of the Finmir marketplace Pavel Sokol told Izvestia that before starting to invest money, an investor should accurately determine the approach and choose long-term investments or speculation. At the same time, you can start investing with any amount, he added.
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