Wish you a very Happy, Healthy & Prosperous Navratri
The Nine days are actually representative of the nine forms of Goddess Durga, and also victory of the good over the evil.
1. Bust your procrastination
Financial procrastination can cause a black hole in your investment corpus, Navratri is the perfect time for introspection and to take control of your finances. Take inspiration from this festival to turn your financial situation around, focus on your future & bust your procrastination
2. Manage your risks
Even before you start investing its important that you manage your risks,i.e Life, Health and Disability, If you have dependents make sure you have a term life plan, have ample health cover irrespective of the cover provided by your employer. & dont forget to get a disability cover! Always keep in mind that as you grow older you will not be insurable
3. Setup a contingency fund
Make sure that you have set aside 6 to 9 months of your monthly expenses as a contingency fund, it could be in your savings accont or liquid funds/short term funds.
4. Write down your goals
Someone rightly said that if you want to achieve a goal, the first thing you need to do is write it down. I know it sounds a bit cliché, but it actually does work.
4. Review your existing investments
Still holding those conventional Insurance plans, expensive ULIPs /PMSs? Its time not only to make the right choices for the future but its also to correct past money mistakes.
5. Make an investment plan
Setup an investment plan in line with your life goals, need I tell you that if you dont have a plan you will become a part of someone else’s plan.
7. Portfolio Re-Balancing
Rebalancing is the process of realigning the weightings of a portfolio of assets. Rebalancing involves periodically buying or selling assets in a portfolio to maintain an original or desired level of asset allocation or risk.
8 Diversify your portfolio
Its is important that you diversify your portfolio optimally across asset classes to generate superior risk adjusted returns.
9. Get an expert opinion
Last but not the least dont forget to take expert opinion after all its Free & Unbiased.
Pramada Finserv 