Are you Thinking?
FD as a gimmick & real estate factory form of selling
Sri Lanka is perhaps at the doorstep of recovery from the unprecedented economic catastrophe experienced in 2022 and 2023.
The primary economic indicators such as inflation and interest rates are witnessing noticeable and significant drops. These factors drive the direction of serious and potential economic upturn by the end of this year. This also has been highlighted by the Governor of the Central Bank along with his team.
Whilst these changes are taking place in the economic environment that we operate in, have we allocated time to decide as individuals what we would invest our savings or for that matter our excess cash flow? This is a question 90% of individuals and companies have not thought about. Therefore, whilst we are quick to judge the decisions taken by the Government, have we thought through as to what decisions we have taken when it comes to our investments and retirement?
At this juncture the game changes. If you have not thought about your future!
Therefore, it is imperative that we ensure financial stability and security for the future. In ensuring this security we need to work through with proper analysis and with companies or individuals that have a proven track record.
It is time that we look at our finances and our strategies for investment immediately. The FD gimmick of higher interest rates is falling. I call this a gimmick as FDs are never a hedge against inflation. However, most investors find FD a safe haven, not knowing that their money is depleting by the day. This simply makes our banks rich.
Nonetheless, going forward from a proper growth trajectory it is essential that we as Sri Lankans properly decide the manner in which we intend to make our investments more productive. History has proven that real estate is the way forward. However, when looking at real estate, work with a company that knows what they are speaking of, as opposed to mass scale factory form of real estate selling. End of the day real estate is not made in a factory!
