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Secrets for effective investment planning by financial advisor
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Secrets for effective investment planning |
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Finance & Investment
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Many of us envision a grand wedding for our children, a majestic retired life and much more as seen in a Bollywood film. Effective investment planning can actually make you realize all these dreams and even if not on a grand Bollywood scale. it will surely be of an admirable stature. With effective investments in place. you will have enough money always to take care of your needs. Even during emergency situations you wont be reduced to ashes as a lot of people are after a grave situation haunts them and reduces their financial worth totally. To make sure that you are always well prepared to face such situations, here are some effective investment tips: • Create a budget: I know it sounds a bit too corporate and technical and probably even boring, but creating a budget is the first step towards effective wealth management and financial planning. By budget we mean the amount of money you should set aside for day to day expenses. You should also create a separate budget for various investments. There should be a specific monetary value allocated to each investment so that you save that much money each month to be invested in that particular investment. • Invest in real estate: Perhaps the best investment advice anyone on earth could give you would be to invest in real estate. Real estate prices always appreciate, even when the financial market is down. And when you have property with you, you can keep on giving it on loan till the time you want to sell it. Also another advice from my side would be to never sell property unless it’s grave emergency. The more you keep it the more commanding prices will it fetch later on. If you have the money for down-payment, invest in real estate. • Always have insurance policies in place: While making investment plans, always remember insurance policies. There are various kinds of insurance such as life insurance, motor insurance, fire insurance health insurance. To cover all your expenses in case of the death of a family member, house destroyed due to fire or other calamities, damage to the vehicle or emergency medical treatment of a family member, you should purchase insurance policies. By just paying a nominal sum of money each year you are entitled to get money from the insurance company in case any of the above mentioned tragedy takes place. • Keep money in fixed deposit accounts: If you’ve a little money that you don’t need for a year or two, create fixed deposit accounts and save it in them. After a year you will get the money with interest. Alternatively you can even invest in mutual fund schemes. They will invest your money at a lot of places.
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