'Living below your income is the secret of wealth'

Carolina Hernández decided 20 years ago to fully enter the U.S. real estate market. Today, after achieving success, she decided to write a book in which she recounts her journey and that of the many people she has shared it with. During her visit to the Bogotá International Book Fair, which ends this weekend, she spoke with Portafolio.

Can a person build wealth from the informal economy? Yes, of course. It's not an easy path, and it requires more effort and discipline, but it's within reach if you start with a fundamental principle: living below your means. This habit, adapted to each situation, allows you to start generating small savings, even from the bare minimum.

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Over time, these savings allow us to move from urgency to stability and then to planning. Sometimes, a single, well-executed idea can radically change a person's financial course. But even without a great idea, consistency in habits can open up new opportunities. The goal is to achieve what I call living ahead: working today not to pay off what's due or what's immediate, but to finance the future. This not only provides peace of mind but also a solid platform for growth. Wealth doesn't depend solely on the starting point, but on the decisions made every day.

Is there an age to start?

There's no ideal age to start building wealth. The perfect age is the moment you realize it and decide to do it. I've worked with people in their 20s, 40s, and 60s, and in every case, I've seen real transformations. Obviously, those who start younger have the benefit of time and compound interest, but those who start later tend to have more clarity, focus, and urgency. Every stage has its advantages. The important thing is to understand that financial freedom isn't reserved for a particular generation. It's available to anyone willing to make the commitment, regardless of age. Therefore, this book is an invitation to start wherever you are, whenever you decide.

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In your book you say that you should surround yourself well, but sometimes there's no one with the profile to share certain knowledge...

I insist on the importance of surrounding yourself well. If you don't have someone close to you who inspires or teaches you, today you can access books, podcasts, communities, and mentors. The knowledge is there, but you have to go out and seek it with humility and determination. Breaking down barriers begins with understanding that growing alone is more difficult. Asking for help isn't weakness, it's intelligence. And being open to learning from others can make the difference between stagnating or moving forward.

In a real estate sector like the US, where there are ups and downs, how do you decide when to get in and when to get out?

The real estate market has distinct cycles, and as we saw during the subprime crisis, a bad entry decision can have serious consequences. Therefore, while having a good strategy is essential, timing also plays a crucial role. Investing isn't just a matter of buying a good asset, but doing so at the right time, when market conditions, rates, and projections make sense for your profile and goals. The secret lies in combining strategy with observation: knowing how to read the market, being patient, and not getting carried away by emotion or haste.

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What other options are there in that country's market? Can someone from another country invest?

The United States offers many options for foreign investors, from real estate and stocks to index funds, franchises, and bonds. The advantage is that many of these options are available even to non-residents, provided certain legal requirements are met. The key is to be well-informed, define a clear objective, and act strategically.

Does investing require a lot of money?

Not necessarily. That's one of the most common and limiting beliefs. Today, thanks to technology and the democratization of information, it's possible to start investing with much smaller amounts than most people imagine. The most important thing isn't how much money you have to start, but rather having the mindset, knowledge, and perseverance to do it well. Capital can grow, and what truly transforms is the decision to begin.

What should you invest in today to avoid dying in the attempt at the risk of global crises?

It's true that we live in uncertain times, with international crises and fluctuating economic policies that generate distrust. Protectionism and the reconfiguration of economic blocs make investing more complex, but they also open up new opportunities for those who prepare properly. Today, the key is to diversify, both geographically and in terms of asset types. Investments in sectors less vulnerable to political and economic crises, such as real estate in solid markets, technology, and companies with solid fundamentals, remain attractive options. Furthermore, investments in safe-haven assets such as gold or cryptocurrencies, if managed prudently, can offer protection. The most important thing is to have a long-term focus, be well-informed, and have a contingency plan. No investments are immune to volatility, but with a diversified strategy, you can minimize risk and take advantage of the opportunities that arise amid uncertainty. CÉSAR GIRALDO, Portfolio Sub-Editor

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