Young professionals urged to invest in stocks: exec-A A +A
Thursday, March 27, 2014
YOUNG adults and professionals are encouraged to invest in stocks of well-established companies this early to ensure financial security in the near future, an executive of online brokerage Col Financial Group Inc. said.
Col Financial Group Inc., president and chief executive officer (CEO) Conrado F. Bate, in a press conference at SMX Convention Center on Wednesday, recommended that young investors should invest in stocks of stable conglomerates like those owned by Sy, Aboitiz, and Ayala.
"Malaki pa ang tatakbuhin ng market, might as well get involved (with them). Parang umaangkas ka sa swerte, sabay ka lang sa mga magagaling at kikita ka na," said Cora P. Guidote, SM Investment Corporation senior vice president for investor relations.
She said this is the practice of foreigners who are investing in these companies.
"They are riding with the luck of these big companies," she said.
"If you like the product, understand their business, and believe in the company, you invest in their stocks. You are just investing in the companies you patronize," Bate said, adding that young investors should not be afraid of investing in some situations.
For example, when stocks are down, investors should buy more rather than sell their stock. Bate said in Manila, investors purchase more investments because it is much cheaper.
"They should hold on to their stocks and continue investing, in the long run, the money will grow and become substantial," he said.
Bate said young adults and professionals should start early so that they can experience the substantial growth of their investments at an early age.
Col Financial Group Inc. vice president April Lynn L. Tan said as they age, they will be able to set aside more and grow their investment.
On Wednesday, the online brokerage firm, held their first A Wealth Building Summit for the Filipino Investor for Mindanao at SMX Convention.
Bate said this is the company's commitment to educate young adults and professionals on investing.
"If you teach them how to invest, they will be willing to try it out and in the long run they will be more confident and put in more money in their investments," he said.
Bate said the most important thing that young investors should put in mind when investing is discipline. He said instead of spending a portion of their money for wants, they might as well set it aside for investments.
"They have so much money right now, they need to set aside a portion of it for investment, as a result this will benefit them in the future," he said, adding that savings is not enough and the investments will allow them to retire comfortably.
Published in the Sun.Star Davao newspaper on March 28, 2014.