3 P's of Smart Investing
Making an investment plan involves more than just choosing the right product to put money in. One has to consider the financial situation, risk appetite and...
Making an investment plan involves more than just choosing the right product to put money in. One has to consider the financial situation, risk appetite and investment goals. It’s also important to define the timeline and how much risk an investor is willing to take on in order to determine the optimal asset allocation.
Here's the three P's of Smart Investing - Plan, Prepare & Persist to achieve the long term goals
- Set up an SIP to inculcate a habit of regular saving and build discipline
- Look for the right asset-mix based on your risk appetite and financial goals
- Consult a Financial Advisor/Planner to plan and build your portfolio as per your goals and risk-taking ability
- Diversify your portfolio across various asset classes to mitigate risk
- With rupee-cost averaging you can take advantage of the market highs and lows to benefit over the long term
- Stay invested with SIP or lumpsum to reap maximum benefits of compounding over the long term
As the saying goes, “The art is not in making money, but in keeping it.” So one needs to sit down with a financial planner and understand the importance of making a comprehensive investment portfolio to achieve the required goals.
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