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Don’t just save, invest wisely
Published On , 21 Nov 2016 By ET Wealth
Investing is the process of putting your money into assets where there is a high chance of getting a return that will offset the impact of inflation on your final corpus, and at times will also cover the impact of taxes. Often, in relation to personal finance, people confuse savings as investment.
The reality here is if one keeps money in a savings bank, that will pay 4-6% yearly rate of interest, which will not offset the impact of inflation. On the other hand, over the long run, In India stocks have given more than 12% annual return, which more than offsets the impact of inflation.
WHEN YOU DECIDE TO INVEST, KEEP SOME BASIC THINGS IN MIND
Every investment should be with a definite financial Goal
Every investment should have a deadline
You can remain invested for days, weeks, months or even for years
Your Goal will determine for how long you should invest
The time horizon for your investment is also one of the main determinants of the type of asset you should invest
For short term Goals one should prefer fixed income mutual funds like liquid schemes and Debt schemes
For long term Goals usually Equity or balanced funds are preferred
Your age and risk taking ability also determine in what type of assets you should invest
After investing, have discipline and patience for your money to grow over the time horizon you have set for each investment
You should re-examine your investments once or twice a year and if needed make some changes to realign your portfolio with your Goals
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