What should you consider before investing in 2024?

As each year begins, there is great optimism in setting financial goals. However, circumstances change and some goals may become unfavorable for some people. Taking stock of your finances at the end of 2023 is vital for you to take stock and realign your economic goals in the short, medium and long term to close out this year with a “golden bang” or at least jump-start your wallet for next year. .

One way to take stock is to ask yourself: What have I done with my money? Have I been responsible for my financial decisions this year? Have I wasted my savings? What do I need to achieve my next goals? Am I informed about my debts? Do I pay my bills on time? Do I have spare capacity? The important thing here is that you are completely honest with yourself.

After reviewing your finances, set your priorities, primarily your goal for the beginning of 2024 is to invest in a financial instrument through traditional banking, the Dominican stock market or the real estate sector. The options are varied and will depend on factors such as risk level, need, among others.

For Cibeles Jiménez, risk management and personal finance specialist, making better investment decisions and cultivating better financial habits in 2024 requires careful consideration of several key aspects.

Before you start investing, it is advisable to understand basic investment terms and evaluate both your current financial situation and the country’s situation. In addition, it is essential to consider future prospects and plan a realistic course that will actually allow you to achieve your financial goals.

For those with experience looking to step up their investment levels, he recommends building an emergency fund to cover unexpected expenses before venturing into riskier assets. “If you are unsure or need advice, seeking the help of a financial adviser can be very beneficial,” he said.

As for investment options in multi-service banks, Jiménez mentioned that savings accounts, which offer moderate interest rates but provide liquidity and security, and fixed-term financial certificates with more attractive interest rates than savings accounts. savings, although they require a period commitment.

In the bag

In the case of the stock market, many believe that it requires a large sum of money to start investing in the local stock market, but the reality is that anyone who wants to venture into this sector can do so from as little as RD 10,000, depending on the brokerage house and tool type.

Getting started is simple. You will choose a brokerage firm where you will need to create a brokerage account (free), with your ID and worksheet. For example, for short-term options, you can opt for mutual funds, and for long-term options, you have special central bank certificates, Treasury bonds, corporate bonds, mutual funds and trusts. Each of them has different features and different interest repayment options.

Jiménez says that investing in shares of companies listed on the Dominican Stock Exchange (BVRD) can offer attractive returns, but also involves risks.

Investment funds make it possible to diversify assets into fixed, variable and mixed income. Meanwhile, trusts are an alternative for real estate or other projects that can offer attractive returns, and derivative instruments are for more advanced investors.

If you are a beginner or novice, Luz Batista, Business Director at Tivalsa Sitio de Bolsa, recommends investing in fixed income, diversifying your portfolio in the short term and in the long term for higher returns, as long as your needs, projections and goals are clear..

He adds that the local exchange offers liquid funds where clients can prepare an emergency fund for specific situations; These are variable incomes that offer flexibility and easy access.

“The Dominican stock market has many investment options with both fixed and variable income in the short and long term,” Batista recalled. money.

In long-term investments, he highlighted central government affairs that qualify for all types of clients; There are also short-term products derived from these long-term issues that are fixed income with terms ranging from 30 days to 360 days with monthly or maturity payments.


Meanwhile, Yudelka Parra, a financial and real estate advisor, suggests that real estate investment is a safe option due to its low risk and high profitability. Whether you’re looking for steady income or building future wealth without compromising value, real estate can align with several financial goals.

Parra emphasizes the importance of considering the investment purpose and strategy when buying a property, whether for personal use, rental or capital gains from resale. With the forecast of stabilization of construction materials prices and a more flexible monetary policy of the central bank in 2024, the real estate market in the Dominican Republic is ready to attract local and foreign investors.

Before diving into real estate investing, he suggests careful financial planning and professional real estate advice.

Evaluate the target area, the purpose of the investment, the legal status of the property and the ease of investment. A sensitivity analysis should include borrowing capacity, loan terms and interest rates.

Risk factors to consider

  1. Tolerance. Before investing, it is important to understand how much risk you are willing to take.
  2. Objectives. Define your financial goals. Where, when and how to invest is crucial.
  3. Time. Defining how long you plan to hold an investment will help you with risk and return.
  4. Knowledge. Don’t invest in financial products you don’t understand.
  5. Diversification. Avoid putting all your resources into a single investment. Diversify risk.
  6. Liquidity. Evaluate the liquidity of your investments and the associated costs.

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