HSBC: Year of the Dog is good for new ventures
International banking institution HSBC suggested investors, businessmen and consumers to look for new ventures and opportunities this year, as the year of the Dog 2018 is seen to bring good vibe for changes.
"Be on the lookout for new ventures and keep in mind that dog years are also said to be a time of change. Start the Year of the Dog with positive energy by keeping your finances in check and staying on course towards your wealth goals," advised the HSBC Chinese mythology prediction.
For those businessmen, who believe and practice Chinese mythology, the Chinese New Year signals a chance to start afresh, set new goals and claim your good fortune.
Based on the Chinese mythology, the Jade Emperor wanted to select 12 animals be part of the Chinese Zodiac and hosted a race to choose them. The dog was the second last to cross the line, becoming the 11th animal of the zodiac.
"This Year of the Dog is predicted to be full of energy," HSBC suggested.
The bank also enumerated several characteristics that will bring prosperity and luck this year, these are being proactive, hardworking, loyal, vigilant, intelligent, agile, energetic and generous.
It further said that Dogs are always alert. So, being alert and aware of financial goals is important this year. Goals should also be in specific and be planned in detailed, like starting a family, travel, among others.
Dogs are also hardworkers. This year, aside from working hard for money, it is also a good time to reverse the equation by letting "your money work for you."
"This current period of increased market volatility gives people a chance to review their investments to ensure these are diversified, aligned with risk appetite and fit for long-term goals. Inflation dilutes the value of cash in the long run so a balanced portfolio is key. With investment options ranging from simple to sophisticated, investors must understand what best suits their needs. If you are new to investing, make sure you consult a trusted financial advisor to make sure you find the right investment opportunities for you. Not all investment tools will be suitable for everyone, it further explained.
While the market is full of opportunities within the reign of the Dog, tight vigilance is recommended as Dogs are known as great protectors of the home and family.
Protecting your family’s lifestyle, home and future through insurance can also provide an important level of comfort and protection in the event of the unexpected. Some wealth insurance products can also help to reduce volatility with capital and growth guarantees.
HSBC further advised that it is good to welcome the New Year of the Dog with enthusiasm and seize new possibilities but being careful of stress and burnout and health management.
In a recent HSBC survey, almost 40 percent of people in Hong Kong for instance said that they have not purchased the right protection due to lack of understanding and concern about exclusions.
The secret of generosity will also work in fullswing this year, Chinese metrology, as well as the other universal golden rules such as loyalty, sharpness/ intelligence, among others.
"The dog might have come second last in the race to become one of the twelve animals of the zodiac, but by getting an early start to your Year of the Dog, you can succeed in the financial race," concluded HSBC's recommendation on how to take advantage of the year of the Dog.