Household asset allocation is not only a technology, but also an art. The popular understanding of asset allocation is to put the four types of assets that are common at presentLiquid, fixed income, equity, alternative assets, the process of reasonable collocation and combination. Since it is a variety of assets, of course, you can't buy just one, such as putting all the money on the currency, the safety and liquidity are guaranteed, and the profitability is greatly reducedTherefore, the allocation of household assets is the art of decentralization.
According to the traditional savings habits of our Chinese, many families will allocate fixed-income assets, which are also the cornerstone assets of family financial management, which plays a very important role in stabilizing family finances. Recently, we have also seen a lot of news, and we need to grab large certificates of deposit when we go to the bank, because large certificates of deposit are rare fixed income products, which can provide a relatively stable income in the short termHowever, from the perspective of household asset allocation, fixed-income products cannot only have large-value certificates of deposit.
Reason 1:
The issue of the income of large certificates of deposit
Large insurance policies and deposit interest rates are closely linked, according to the current trend of deposit interest rates, the probability is downward, according to the background of national financial regulation, the benefits of lowering interest rates are more, we start from the actual development of China's economy, although the US dollar interest rate hike, but because of the following reasons, the probability of domestic interest rate cuts is greater.
In the context of weak consumption and the urgent need to stimulate the economy, it is an inevitable choice to lower interest rates and let people take money out of the bank for consumption.
From the perspective of the development of small and medium-sized enterprises, lowering interest rates can effectively reduce the financing costs of small and medium-sized enterprises, which is more conducive to promoting economic development.
From the perspective of local debt, lowering interest rates is conducive to reducing the debt repayment pressure of local governments.
At present, China's inflation can be controlled, and there is no possibility of raising interest rates as sharply as abroadTherefore, in the long run, it is difficult to maintain the income of large-denomination certificates of deposit for a long time, and it will be further adjusted downward with the reduction of deposit interest rates.
Reason 2:
The issue of the maturity of large certificates of deposit
The most popular term for large-denomination certificates of deposit is three years, and for many customers, the question is how to manage the money after three years. Especially with the downward trend of market interest rates, such a risk is increasing, and we can imagine that if the interest rate is 3% now, it will become 2% in 3 years, and 1 in another 3 years5%, in this case, the average annualized interest rate for 9 years is more than 2 points.
Regardless of the issue of time, simply looking at the paper and the current interest rate is equivalent to carving a boat for a sword, just like the reverse repo of treasury bonds, the return may reach 10% at some points in time, what is the point? This rate may only be 1 day, or only 3 days, and then it will return to a little bit of the income level, so no matter how high the paper interest rate is, because if it is not sustainably stable, there is no way to guarantee long-term returns.
In *** Rui Shi Perspective".
According to the habits of the vast majority of Chinese, it is impossible to consume all the wealth we have accumulated immediately, or even spend it in three years. We set aside wealth to meet our long-term financial goals in the future. Some of these financial goals are definitive expenses, such as retirement, children's education, inheritance, etc.; There is also a part of uncertain expenses such as accidents, illness, etc.
Therefore, in the context of the long-term existence of wealth, for fixed income type wealth, it is more valuable to extend the cycle for a long time and look at the income level from a longer time dimension.
Reason three:
Functional problems of large-denomination certificates of deposit
From the perspective of product structure, as a short-term fixed income asset, large-amount certificates of deposit are more suitable for meeting short-term financial goals, because the functional term is matched, and the characteristics of relative safety and high liquidity can ensure the smooth realization of the goals.
However, in the face of the problem of a longer cycle, such as a life goal of more than 10 years, it is very difficult to simply use a large certificate of deposit, because the term of a large certificate of deposit determines that it is difficult to solve the problem of a longer cycle, such as the problem of pension, it may take 30-50 years from the preparation of the pension to the end of use, and it is difficult to maintain the certainty of the income of the large certificate of deposit for such a long time, as well as stability and exclusivity.
In *** Rui Shi Perspective".
Or it is a difficult problem related to the law, such as a business owner who buys a large certificate of deposit for asset preservation, hoping to effectively separate personal assets from family assets. However, once the risk of litigation occurs, large-amount certificates of deposit, as a savings product, will be very easy to be frozen, like real estate, cars, ** and other products, and will eventually be enforced by the court.
Talking about the three reasons why family financial management fixed income assets cannot only have large-amount certificates of deposit, we are not beaten to death with a stick, saying that we can no longer allocate large-amount certificates of deposit. In fact, large-amount deposits also have their own use scenarios, and their existence is reasonable, but we should pay attention to the fact that when allocating assets, we cannot put all the cornerstone assets in the family on large-amount certificates of deposit.
In addition to the bank's large-value certificates of deposit, the insurance company's annuity and increased life and other products that are partial to financial management attributes are actually fixed income products。It's just that from the perspective of time, the insurance period is longer, and because of long-term factors, it avoids the risk of short-term fluctuations in interest rates; In addition, because of the longer term, it also makes it possible to make full use of the compounding effect of time, and from the perspective of a longer period, the income converted into simple interest is far greater than that of large certificates of deposit; In addition, insurance products are responsible for personal long-term protection, which is an important period of social stability, and from the perspective of supervision, it is becoming increasingly strict, including comprehensive solvency and insurance protection**, etc., and the overall security is also very controllable; Finally, the insurance product itself also has corresponding functions, especially the reasonable combination of policyholders, insureds, beneficiaries, etc., which can achieve a variety of functions such as exclusivity, inheritance, and preservation.
To sum up,Asset allocation itself should be diversified, changing with the times, jumping out of the single perspective of the past, and examining wealth management products from a longer-term and more comprehensive perspective, so as to better carry out family asset allocationLarge-amount certificates of deposit can be used as short-term standby, with long-term fixed income such as annuity increase and longevity, to jointly ensure the smooth realization of short-term, medium-term and long-term financial management goals in family financial management.