After the shocking result of the Brexit vote, everybody, everywhere, is still in a bit of a flap. There is still so much uncertainty and nobody really knows what is going to happen and, more importantly, when it is going to happen due to politics.
As we all know, the results of the Brexit vote could potentially affect the lives of everybody living in the UK, as well as British citizens living abroad. But nobody is really talking about how the results of the referendum have affected and will keep affecting investors.
So, here are seven recommendations for investors in Spain:
- Check in with your financial advisor periodically, because your personal circumstances and needs are forever changing. If you need assistance, hire the services of a good financial advisor. Only investing amounts that you are comfortable with is extremely important.
- Not everything you read in the paper or online is true! Don’t pay attention to all of the bad press. Most of it is exaggerated. Bad news sells more papers!
- It is true that, in the short term, losses could be and have been significant. However, usually after these steep drops, the market tends to bounce back. So, this may be the perfect time for you to buy shares at an excellent price.
- Short term shares are hard to predict. Today the stock options that have dropped in value over the last few months have actually grown by 300% since 1987.
- Nowadays, the safest investment in Spain is a long term Government bond, but this is not a viable short-term option. You could discuss other options with your lawyer, financial advisor, private banking manager, or tax advisor.
- Forming your own opinion from personal experience is always a good thing. However, you can never know too much and it is convenient to never stop searching for new sources of information. You can never be underinformed.
- Avoid trying to predict the market. Experts agree it’s impossible to do so and it could be potentially devastating to a long term investment. Withdrawing a long-term investment even for a few days could have detrimental effects. Try to discuss your decisions with your lawyer, financial advisor, private – banking manager, tax advisor or even all of them to avoid any possible losses.
You should always discuss your situation with a professional team of lawyers or tax advisors.