Living off an income is one of the goals that Tesouro Direto can make possible. However, you need to know how to choose which are the best titles for this, according to their characteristics. Otherwise, the investor may have plans frustrated or even lose money.
A diversified portfolio of securities is suggested by Sandra Blanco, chief strategist at Órama Investimentos. The specialist indicates a combination of fixed-rate and inflation-linked Treasury bonds with semi-annual interest payments (or coupons), maturing in up to five years, arranged to cover as many months as possible.
How to arrange interest payments? The objective, according to the executive of Órama, is for the securities in the portfolio to have diversified semi-annual interest payments in such a way that the investor has amounts receivable for as many months as possible. There are bonds that pay interest in January, February, May, July, August and November, she says.
Also according to the expert at Órama, fixed-rate Treasury bonds with half-yearly coupons pay interest in January and July. In the case of IPCA+ Treasury bonds with half-yearly coupons, payments are made in February and August or in May and November.
The IPCA Treasury with semiannual interest is also the recommendation of Gustavo Chaib, investment advisor at Guide Investimentos. In addition to the recurring payment, this investment protects assets against inflation, as it is indexed to the IPCA, the main index that measures inflation.
The payment of the coupon every six months, says the expert, allows investors to program their expenses according to the flow of receipts. Therefore, it serves the purpose of generating extra income.
How to buy bonds? The minimum purchase amount of a security is a fraction of 0.01 security, that is, 1% of its value, as long as the minimum amount of R$ 30 is respected. Investors must use a bank or a brokerage firm to purchase securities from the Direct Treasury, as Chaib says. What changes is the custody fee, which enters the account of some brokers. Others waive the charge.
On August 2, the minimum investment for the Fixed Rate Treasury with semiannual interest payment was R$ 33.88 (maturity in 2033). The IPCA+ Treasury alternatives with coupon each semester are due in 2032 (R$ 40.59), in 2040 (R$ 40.11) and 2055 (R$ 39.03), according to the Treasury Direct website.
Do I have to pay any fees? When evaluating the pros and cons of Treasury Direct, the investor must consider two other fees.
The custody fee is charged every six months by the Stock Exchange, being 0.10% on the first business day of the year and the other 0.10% on the first business day of July. The charge is proportional to the period in which your money was invested.
The investor who trades his security before maturity must be careful with the incidence of taxes. The initial Financial Transaction Tax (IOF) is 96%. See how it works:
The IOF is charged for redemptions of the Treasury Direct application made in terms of less than 30 days. The tax is high, starting at 96% of the total income on the first day of application until reaching 0% on the 30th day.
The regressive table of the Income Tax (IR) is another feature of the Tesouro Direto that can make the asset unsuitable for the investor without discipline.
Income tax rate (in %) / Investment term (in days)
22.5: 180 or less20: from 181 to 36017.5: from 361 to 72015: 721 or more
Is there a risk of investing in the Treasury? A very important point of attention, according to Chaib, is the so-called “market risk”. This risk, which varies according to the Brazilian economy itself, causes variations in the amount invested. In addition, the rise or fall of the basic interest rate, the Selic, also changes the value of public bonds. This is called mark-to-market of bonds, trading on the secondary market before their maturity.
The variation in the quotation can be positive or negative. If the investor does not plan and needs to redeem the security before maturity, he runs the risk of selling at a time of devaluation.