Do you know why many people do not recommend saving as a good investment option nowadays? Despite the exemption of Income Tax (IR) and Tax on Financial Transactions (IOF), this modality of application loses in several aspects in relation to other forms of investment. Those who invest in savings lose purchasing power, fail to profit effectively with their money and, in the end, end up losing incomes! All this because of savings interest! Do you want to know why? Check out this information:
Savings interest rates are low
The remuneration of investments made in savings is calculated from monthly anniversaries, that is, their income is not daily. In addition, the interest rate of this type of investment is composed of two parts: a basic remuneration, the Referential Rate; and the additional remuneration, which varies according to the Selic rate targets of the year. On average, in recent months, this remuneration has been 0.6% or 0.7% per month.
The country’s inflation rate has risen sharply
Before knowing why this saving interest rate is too bad, it is essential to keep in mind the current behavior of inflation in Brazil. Political crises and economic fluctuations have contributed to a rise in inflation in recent months. Today, the annual inflation forecast is 9.5% on average. Per month, this means a devaluation of 0.8% of your money.
With this information in hand, reflect: no matter how much tax is saved on the savings, basically you will be receiving a yield of 0.65% (average) per month, but with a monthly devaluation scenario of 0.8%. That is, the economy (services, products, rentals, fuels, etc.) is inflating at an effectively higher rate than saving income. For this reason, those who invest in this type of application are losing money!
Think about the opportunity cost of investing in savings
In addition to the actual loss of purchasing power, one must also remember the cost of opportunity when investing in savings. Opportunity cost refers to what you lose for making a choice. When you invest in savings, you stop investing in other types of investments (CDI, direct treasury, fixed income, stocks, etc.). Many of these applications have yield rates well above saving, managing to surpass the inflation rate and still keep up with the Selic interest rate.
Since many investments follow the Selic rate as a reference, and considering that it is currently 14.5% per year, as determined by the Monetary Policy Committee (COPOM), it is necessary to think about other options of application instead of saving . These other applications, however taxable Income Tax and other fees, such as investment management fees, can exceed the income offered by savings.
What did you think of this information? Now that you have understood all about savings interest, how about checking out a post on finding the best forms of investment ?