Managing Money With Moneycontrol: 5 strategies and principles that investors should know to create more wealth in FY19

作者:Zoey 時間:2018-04-21 06:11:52 標籤: 分類:

Moneycontrol PF team

In this episode of Managing Money with Moneycontrol, we tell you how you should start with financial planning at the beginning of the financial year 2018-19. In the accompanying video, Manoj Nagpal, Consulting Editor and Founder, Outlook Asia Capital, shares actionable insights on how to achieve your financial goals.

Here are 5 strategies to start with your financial planning in this financial year 2018-19:

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Assess your financial goals: During the start of the financial year, you should analyse your financial goals. Since financial planning is an ongoing process, you should review your goals as they do change from time to time. Also, the risk-taking capacity of individual changes as per the increasing age which makes it again important to review your goals and proceed accordingly taking the help of an adviser.

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Observe market outlook: Whether it is related to national issues or global issues, the economic conditions affect the market at several stages. Markets may fall or it may rise at a given point in time making an investor to take the opportunity in buying and selling of stocks and funds. Therefore, analyzing the current market scenario becomes very important as it helps in analyzing the trend and track record of company’s performances.

Asset Allocation strategy: It is important to allocate funds strategically to the various asset classes like equity, debt, gold, etc., Doing so will help you know the overall average return your portfolio is generating. Also, it helps in achieving your financial goal over a period of time.

Identify the fund manager: This helps in identifying the portfolio strategy being used by the fund manager. Every portfolio strategist has their own way of managing money, knowing it becomes very important for you because it helps you understand how your money is going to be invested in the various sectors.

Rebalance your portfolio: Choosing funds not just to save your taxes but also to fulfil your financial goals with that fund give you an advantage of the dual benefit. Therefore, optimising portfolio to generate good returns by reducing cost is very important.

Not only this, investors should also know these 5 basic principles that will help them to achieve their dream in the long-run:

Start Early: Plan your investments as early as possible, the sooner you plan, the more corpus you will be able to generate in the long-run.

Invest Regularly: Be a disciplined investor, save regularly towards your financial goal.

Think Long Term: Having patience is the key to achieve one’s long-term goal.

Ignore the short-term volatility: Do not panic with short-term rise and fall of the market, stay invested and keep reviewing your portfolio unless you achieve your success.

Have a trusted Financial Advisor: Taking advice from a certified financial planner is must, he/she can assist you in achieving your goal by following proper asset allocation strategy.

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