Sophia Akuffo who joined a group of pensioners to picket at the Finance Ministry on Friday, February 10, 2023, slammed the government for messing up the economy and attempting to “forcibly” include their pension funds in the debt restructuring exercise without accountability and engagement.

She described the move by the government as “sheer wickedness and outright disrespect to the elderly who have sacrificed their lives for the development of the nation.”

Madam Sophia Akuffo asked government to be transparent and tell Ghanaians what led to the current economic crisis and what all the loans were used for.

“The Minister of Finance better go back to the drawing board and come up with a better proposal otherwise nobody is going to agree to it. I am encouraging people not to agree with it. A contract is a contract, and it must be respected and if you want to renegotiate come to the table with humility and come with a ‘yesable’ proposal,” the 73-year-old said.

Ghana’s total public debt stock has shot up to GH¢575.7 billion at the end of November 2022, according to new data released by the Bank of Ghana.

The new debt figure brings Ghana’s debt to Gross Domestic Product (GDP) ratio to 93.5% from 75.9% in September 2022.

The country is currently facing an economic crisis and the government is seeking a $3 billion bailout package from the International Monetary Fund (IMF) to enable it restructure the economy.

Government is thus restructuring its debt in a bid to secure the IMF programme by introducing haircuts on bonds and other investment securities.

This move has been widely resisted by those affected. The deadline for signing up for the programme was extended three times.

Source: citinewsroom.com; Author: Edna Agnes Boakye

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Source: youtube.com

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Buying and selling securities

Years ago, if you wanted to make a trade you would need to call your stockbroker and place an order. The commission rates to buy or sell stocks was pretty much fixed and high due to a lack of information and alternatives. Investors wouldn’t know how their investments were faring until they received their account statements in the mail.

Today investors can search the web to see which brokerage firm has the lowest transaction fees and buy and sell securities themselves at the click of a mouse. Fidelity started a new price war in the cost of trading stocks and ETFs by lowering their transaction costs to $4.95 per trade. Schwab quickly lowered their price to match Fidelity, while TD Ameritrade also reduced their trading commissions.

Many brokerage firms and other custodians offer apps to allow investors to track their investments using their phones. Alerts can be established on various holdings and so much more.

Technology has also armed both individual investors and investment advisors with the tools to perform cutting edge research and analysis on investments and to help manage portfolios.

Robo advisors

One of the biggest innovations of the past ten years has been the advent of the robo advisor. Firms like Betterment, Wealthfront and others have used technology to allow them to construct and manage client portfolios using algorithms. Most robo advisors invest in low cost ETFs. Taking the human element out of the investing equation can drastically lower the cost of investing.

Robo advisors have been adding additional services as well. Both Betterment and WealthFront offer tax loss harvesting for taxable accounts. Betterment offers a 401(k) product and has a version that partners with financial advisors as well.

Bigger players like Schwab, Vanguard and Fidelity have taken notice and have started their own robo services, sometimes augmented with human advisor. This technology promises to continue to revolutionize the investing landscape in the years to come

Source: Investopedia

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Legendary investor Warren Buffett defines investing as “… the process of laying out money now to receive more money in the future.” The goal of investing is to put your money to work in one or more types of investment vehicles in the hopes of growing your money over time.

What is investing?

Investing is really about “working smarter and not harder.” Most of us work hard at our jobs, whether for a company or our own business. We often work long hours, which requires sacrifice and adds stress. Taking some of our hard-earned money and investing for our future needs is a way to make the most of what we earn.

Investing is also about making priorities for your money. Spending is easy and gives instant gratification—whether the splurge is on a new outfit, a vacation to some exotic spot or dinner in a fancy restaurant. All of these are wonderful and make life more enjoyable. But investing requires prioritizing our financial futures over our present desires.

Investing is a way to set aside money while you are busy with life and have that money work for you so that you can fully reap the rewards of your labor in the future. Investing is a means to a happier ending.

Investing Vehicles

There are many different ways you can go about investing, including putting money into stocks, bonds, mutual funds, ETFs, real estate (and other alternative investment vehicles), or even starting your own business.

Every investment vehicle has its positives and negatives, which we’ll discuss in a later section of this tutorial. Understanding how different types of investment vehicles work is critical to your success. For example, what does a mutual fund invest in? Who is managing the fund? What are the fees and expenses? Are there any costs or penalties for accessing your money? These are all questions that should be answered before making an investment. While it is true there are no guarantees of making money, some work on your part can increase your odds of being a successful investor. Analysis, research and even just reading up on investing can all help.

Source: Investopedia

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