Financial Planning

Get Your Finances In Order by Following These 7 Steps

1. Set Financial Goals

Setting Goals is a pre-requisite to any financial plan. If your Goal is to buy a new smart television, name your Mutual Fund as “My New Smart TV Fund”. This will help you avoid distractions from investing.

2. Consider Inflation

Foreign education overseas for your child cost a few lakh rupees not long ago. Now it runs into crores. A flight from Delhi to Mumbai was Rs.140 in 1947**. Now, you will have to pay approximately Rs.6,788. Similarly, the cost of healthcare surges over time. Inflation is your enemy number one.

3. Seek Financial Advice

Financial advisors* are professionals who study the market. They can guide you about good schemes. They even keep a track of your Fund and help you get maximum returns.*We at MEGA study the market and suggest you best schemes to achieve your financial goal. We would like to remind you that we are the only practicing financial Planners in Rajkot.Please

4. Invest for Emergencies and Retirement

Uncertainties can eat out your savings and retirement* is an inevitable life-Goal. These Goals can help your other Goal-based investments stay on track. By building your strong retirement corpus, you can even retire early.*If you are planning investment for your retirement, we are practicing for retirement planning for more information please

5. Diversify your Portfolio

Different assets have different risk-return profiles*. For example, Equity-based Funds witness short-term volatility but can give high returns in the long run. Similarly, Debt or Liquid Funds are relatively low-risk category investments. You must have a balance of these assets to balance your risk and return.*We are conducting the risk profile test, discuss with you the risk-taking capabilities and according design your portfolio. For more information please Contact:

6. Long-term is the Key

The earlier you start, the better your corpus gets, due to compounding. The secret to long-term financial independence is long-term, regular investments.

7. Plan your Exit Strategies

You plan your investments for your Goals. However, after reaching your financial Goals, you need to plan your Fund exit strategies as well. You can plan a separate exit strategy to match every Goal.

Courtesy: Mint Date:-21 January 2019(UTI Swatantra)

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