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Talking About The Newly-Rich Phenomenon in The Pandemic Crisis at PoldevTalks Institute for Policy and Development UGM

Yogyakarta, April 1st 2021 – Institute for Policy and Development, a research center under the Department of Public Policy and Management, held PoldevTalks for the first time. Held on (01/04) via instagram live, the first PoldevTalks invited Yendri Ferdiansyah to discuss “How the Pandemic Crisis gave birth to The Newly-Rich?”. For Yendri himself, the terminology “The Rich” isn’t restricted only for people with a certain amount of wealth, but can also refer to individuals who succeeded to increase their wealth. It can not be denied that the COVID-19 pandemic causes a lot of negative effects to a lot of sectors, including the economic sector. The COVID-19 response policy to limit the public activity directly affecting the country’s economy. Furthermore, there are restrictions on international economic activities that worsen many countries’ economies. This condition forces the government to create policies to recover the economy, such as financial, economic, and social policies.

“One of the most influential and effective government policies for corporations and the general public is credit restructuration,” said Yendri answering a question from Rizky Dwi Lestari’s, the first ever Poldev Talks’s moderator. With the credit restructuration, corporations and the general public can delay their credit payment in this time of crisis. With this credit restructuration, corporations and the general public are helped and can minimize risk, in the middle of increasing debt and threatened income.

Yendri said that every crisis will be followed by development. Like when the economy is down, there will be recovery phases in many economic lines, for example in the stock market. Opportunity for the stock market value to increase after the crisis is what Yendri thinks will give birth to the Newly-Rich. But, didn’t restrict the discussion to the Newly-rich from the stock market only. Yendri thinks that the Newly-rich are people who are able to make use of the momentum so they can increase their welfare, including the micro-business entrepreneurs that begin to create businesses that one would ever imagine before the pandemic. When talking about this, Yendri gave an example from a Zoom Meeting account rental business. Not only that, now micro-business entrepreneurs are utilizing digital technology more than before, like with using many e-commerce platforms to expand their business.

Furthermore, as a consultant and investment educator, Yendri also discusses financial literacy, investment in the obligation sector, and beginner tips to start investing. Yendri also answered some participant’s questions from the comment section. Starting from crypto, Tesla, to tips to trick VUCA when investing. “To be the Newly-rich, individuals must want to learn, increase their literacy, and be smart to adapt to any condition,” said Yendri in his closing statement before the first ever PoldevTalks was officially ended by Rizky. Live broadcast of the PoldevTalks can be viewed in Institute for Policy and Development UGM’s official IG TV channel.