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 Contact:email@example.com.
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 Contact:firstname.lastname@example.org.
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: email@example.com.
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)