Moderate inflation, to some extent, is a process of wealth transfer and redistribution, so the correct response can benefit you, at least suffer less. The best way to deal with inflation is to invest. If the investment income exceeds the inflation rate, assets can be preserved and increased to avoid shrinking. This paper compares various investment methods in the period of inflation to help ordinary people invest in financial management.
1, bank deposit
The main characteristics of bank deposits are low risk, good liquidity and low income. Although the country will raise interest rates appropriately during the period of inflation, there is generally a "time lag" between inflation and interest rate adjustment, and interest rate hikes are often slower than inflation. During this period, depositors' deposits will have negative interest rates. Compared with the CPI growth of about 5% this year, the current one-year time deposit rate of 3.87% is needless to say, so the proportion of bank deposits in assets should be reduced as much as possible during inflation.
Step 2 buy bonds
National debt is characterized by higher income than bank deposits, less risk and general liquidity. Many investors regard the purchase of government bonds as an investment with high interest rate. In fact, with the convening of the Central Economic Work Conference in 2008 and the strengthening of macro-tightening expectations, the bond market often presents a weak consolidation pattern, and it is possible to continue to decline. Under the inflation, it is not a wise choice to invest in national debt. However, after full adjustment, some individual convertible bonds have gradually stabilized and have certain investment value.
3. Bank wealth management products
Various wealth management products launched by banks make it possible to beat inflation. Their main characteristics are high return, medium risk and general liquidity. If you are a fan of low-risk products, you may wish to participate in the bank's financial planning. Under normal circumstances, the yield of better wealth management products of banks is higher than the inflation rate. At present, the minimum annual yield of wealth management products launched by many banks is above 5%, and the maximum annual yield may exceed 15%. Bank wealth management products also have the characteristics of high threshold and slightly poor liquidity. According to relevant regulations, the sales threshold of bank wealth management products is 50,000 yuan or the equivalent of 50,000 yuan in foreign currency. In some specific financial products, such as QDII products that directly invest in overseas securities markets, the minimum investment threshold is 300,000 yuan or equivalent foreign currency. Unlike the strong liquidity of stocks and funds, most wealth management products generally have a fixed investment period, ranging from three months to one or two years. Even if some wealth management products have early redemption clauses, there are restrictions on redemption time and income loss. It is based on these two points that ordinary investors need to consider comprehensively when choosing bank wealth management products, understand the investment targets, benefits and risks involved in the design of wealth management products, and choose products with appropriate maturity according to their own needs and plans. It should be noted that with the spread of the subprime mortgage crisis in the US market in recent years in the global market, investors should try to avoid choosing wealth management products linked to overseas capital markets.
4. Buy funds and invest in the stock market.
Buying a fund is actually entrusting an expert to manage your money. Practice has proved that a fund can easily outperform CPI. If you want to choose a low-risk and high-yield investment product for the rising CPI, the fund will bear the brunt. Especially in the first half of this year, the fund market was the most active, and the average rate of return of about 100%-tiaowo-made ordinary investors jealous. Generally speaking, the fund has high returns and high risks. But at present, there are more than 50 fund companies and more than 300 funds on the market. Coupled with the endless stream of new products, it is dazzling, but there are only three kinds of subdivision:
(1), equity fund
Statistics show that in the first half of this year, the net income of 137 equity funds reached 224.664 billion yuan, and the high income of equity funds made people jealous. However, it is also very risky. Investors of stock funds mainly face the following risks: First, the stock market risk. Because the main funds of stock funds are invested in the stock market, when the stock market fluctuates, the net value of the fund will also fluctuate. The stock market adjustment, which started on June 5438+ 10, also taught the broad masses a profound lesson. Therefore, the uncertainty of the future return of the stock market inevitably means that there is considerable uncertainty in the future return of the stock fund. The risk of the stock market itself
It is usually called system risk. In addition, there are risks in capital operation. The fund's mistakes or inefficiency in securities trading, asset custody, net worth calculation and investor account management will also harm the interests of fund investors. Therefore, it is suggested that citizens who choose to buy equity funds in order to outperform CPI should first be prepared to take certain risks.
(2) Bond funds:
If you want to beat CPI and get higher returns, but don't want to take too high risks, buying bond funds may be a good choice. Under normal circumstances, if all bond funds invest in bonds, the annual yield is only about 2% to 3%. However/at present, domestic bond funds often set a ratio of less than 30% to invest in the stock market, so the income will be higher than that of money market funds. At present, Rongtong Bond, Huaxia Bond and China Merchants Bond are pure bond funds (unable to invest in stocks); Other bond funds can choose to invest in some stocks or participate in the placement and issuance of new shares according to the contract. According to statistics, the average performance of bond funds in the first half of this year was 12.39%, but the risk was much lower than that of equity funds.
3) Monetary funds:
Among the types of funds, money market funds have the least risk, and the annual income is not high, but it is much higher than bank deposits. Money market fund is a tool for institutional cash management; For individuals, it is the best substitute for savings and demand deposits. By investing in money market instruments, money market funds can obtain a certain rate of return, provide high liquidity and meet daily payment needs. For investors who participate in the stock and bond markets, they can convert their funds into money market funds and wait for the opportunity to re-enter the capital market to avoid the risks in the securities market, so they don't need funds urgently. Therefore, it is suggested that people with low risk tolerance can consider buying money market funds.
Investing in the stock market may be a good choice for people who have certain endurance. Due to the rapid development of China's economy, the continuous appreciation of RMB, and the continuous growth of listed companies' performance, the stock market will be bullish for a long time. Moreover, practice has proved that moderate inflation is beneficial to the stock market, because inflation is first manifested in the real economy, and then transmitted to the capital market, showing the rise of stock prices. Investors can make up for the depreciation of assets caused by inflation by investing in excellent growth stocks. In addition, behind stocks are enterprises, and behind many enterprises are assets that can fight inflation and products that can raise prices. Naturally, it is an asset-rich industry, such as real estate and finance; Enterprises that directly benefit from the growth of total consumption, such as retail department stores; Brand consumer goods with rigid demand and strong pricing power of enterprises, such as high-grade liquor, jewelry enterprises and resource-based industries, will become ideal investment targets in an inflationary environment.
5. Invest in real estate, gold and artworks.
Investing in real estate during inflation is also a good choice. As prices rise, asset prices will inevitably rise. Investing in real estate can at least preserve or even increase the value of assets. But investing in real estate requires high capital and consumes a lot of time and energy. For most people, it is not a suitable investment channel and has poor liquidity.
In the case of serious inflation, gold is a good means of preserving value, and its global convertibility also ensures its preservation. Compared with gold bars and coins, "paper gold" has a lower discount rate and a more visible return on investment, but once the price of gold falls, it will definitely lose money. Investing in real gold, mainly gold bars and coins, is different. No matter whether the price of gold falls or rises, the number of repurchases will not be many. It has been calculated that in Babylonian times, an ounce of gold could buy basically the same bread as today, that is to say, after two or three thousand years, gold maintained its purchasing power level relative to bread.
When serious hyperinflation occurs, the economy and consumption of the whole country will be greatly damaged (this has not happened in New China). At this time, most investment products will depreciate seriously, and domestic investment products (such as stocks, funds, bonds, futures, real estate, etc.). ) will lose its value-preserving function, so it is best to choose stamps, works of art and other collections for long-term investment.