As the MAPFRE experts warn, we won’t get any returns if savings remain dormant. Our savings will decrease and our purchasing power will deteriorate at the rate of inflation. This is about 7%.
The loss in value of the trillion euros saved by Spanish families during the pandemic is slowly coming true as inflation eats away at those savings. If inflation stays at this level, we can see that the stagnation of all these balances may mean a loss of 20 percent in 3 years and 50 percent in 9 years. That’s why it’s important for citizens to know their options, and that’s why MAPFRE experts recommend:
1. Have a professional financial advisor who can determine which products best suit the customer’s needs. In this sense, insurance company MAPFRE’s long experience in advising families on their current and future financial assets can help make saving a life attitude.
2. Save regularly: build families savings habits, give them flexibility and reduce the risk of change.
3. Start recording as soon as possible. And the longer we wait to start saving, the more money we have to make up for lost time.
4. Diversify the savings and observe which product(s) are the best. It’s nice to have that financial advisor again.
Multiple savings solutions
There are many tools in the market beyond bank accounts or deposits that allow us to make our money profitable. Indeed, MAPFRE has a wide range of savings and investment products that adapt to the different needs of customers. From the Horizon Investment Programme, free active management savings insurance to the client, to individual systematic savings plans (PIAS) that adapt to each person’s risk profile, take advantage of tax benefits and provide ongoing savings. In addition, the insurer has recently launched the SIALP Garantía 5.
What is SIALP? Know your benefits
It is an individual long-term savings insurance. A formula perhaps unknown to some, but of particular interest to those who want to return their savings without risk. In particular, MAPFRE has recently launched SIALP Garantía 5, a 5-year savings insurance policy with periodic annuity payments. a key advantage: tax exemption on all income earned at maturity. It is a product that is required for SIALP products with a minimum of 85%, 100% guaranteed, and a return of over 1% for the contributions made for 5 years.
In this way, SIALP Garantía 5 offers a fixed income as well as being tax-free at maturity for the returns obtained as long as you keep your savings for at least 5 years or contribute a maximum of 5,000 Euros per year. There is also the possibility of fully amortizing only one year after hire, but in this case the tax exemption will be lost. This product joins the wide range of solutions offered by the insurance company, tailored to each person’s goals and needs.
savings simulator
MAPFRE has developed an online savings simulator that allows users to create a personalized savings plan based on their priorities and financial situation. The tool, currently available on its website and at its branches, teaches customers how to get the most out of their money from €1 per day. The simulator offers different savings and investment solutions according to the savings goals, economic status, age and amount of investment of the users.
This simulator is available on the MAPFRE website.