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RACO Investment founder Randall Castillo Ortega discusses maximizing the value of income

Randall Castillo Ortega of RACO Investment provides methods for maximizing income in order to make it more valuable in the long term.

San José, Costa Rica – WEBWIRE

Many of the credit cards we have are associated with a number of discounts at establishments or other types of purchases. If we look at the list we can spend less than we should. It’s a way to adjust our budget.

The decision to leave money frozen or under the mattress will do you absolutely no good if you want to generate wealth. To do this, you need to start taking into account the models you use to spend, invest, or save your available money. There are several alternatives that you can consider so that your money moves as smoothly as possible almost daily and surely many of them you did not know and Randall Castillo Ortega, the founder of RACO Investment, offers six ways you can aim to make your capital grow.

It’s a bit of an old-school method, but it’s never too much for you to use interest-bearing bank accounts. There are plenty of banks that continue to bet on this formula to capture as many users as possible.  However, you have to check all the conditions offered, and these types of products do not currently generate high returns.  

By setting a savings goal, you enter the field of planning your personal finances.  Setting a savings goal is a place that not many people know and few allow themselves to advise.  However, the reality is that in many fields, we have limitations and want to know where to invest or how (and how much saving) can be far from reach.  Castillo asserts, “Setting savings goals can make it easier for us to optimize our money in the long run.  It is something that usually happens rather unnoticed, but that with a correct method and a constancy, the goals that we have in our minds end up being harvested.”  If you constantly have additional cash leftovers at the end of the month after paying your bills and funding your savings goals, consider increasing your contributions.

Even if you have a paid account, through which you receive interest without doing anything, that’s not enough for your capital to generate really attractive yields. It’s important to consider other alternatives that may not involve much effort. From investment in indexed funds, where we don’t have to do anything, to ETFs (exchange-traded fund).  One possibility is that a small part of the money you have on your security mattress can be moved to assets that give you recurring returns without making much effort. Explore the list of funds and indexed plans, but the key is always to have at least more than 3% annual profitability.

A great way to spend less and, therefore, to have more money doing virtually nothing is to use credit cards correctly to maximize discounts.   Explains Castillo, “Many of the credit cards we have are associated with a number of discounts at establishments or other types of purchases. If we look at the list we can spend less than we should. It’s a way to adjust our budget.”

Just look at your credit cards and see if it has any associated discounts. If not, maybe it’s time to look at other alternatives you can find on the market that will allow you to save money in the long run. You can save on fuels, food, clothing, travel and more.  Don’t rule out this possibility you probably didn’t know about.

We overlook them, but it’s important that we’re aware of what advantages we can have from being employees of a company.  Partner restaurants, discounted gyms, public transportation assistance, or reimbursement of part of your phone bill are practices used by a number of companies. 
Take ten minutes of your time to ask your company’s human resources team what benefits you can have. You may be surprised and can take advantage of being given the option to save.  If there aren’t any, it might be a good time to launch an initiative to have some created.  

About RACO Investment

RACO Investment is a financial investment firm serving small- and medium-sized companies in Panama and Costa Rica.  It was founded by Randall Castillo Ortega, an expert financial adviser who has his roots in the import and export industry in Latin America.  The firm has helped numerous startups find the financial support they needed to get off the ground, and has also contributed bridge loans to assist those looking to restructure or improve their operations.  

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