Thank you for registration.
We will keep you updated with our investor educative information.
We already have your details.
This republic day, get your finances in order by following these 7 steps
Published On , 24 Jan 2019 By TT Connect
THIS REPUBLIC DAY, GET YOUR FINANCES IN ORDER BY FOLLOWING THESE 7 STEPS
Set Financial Goals
Setting Goals is a pre-requisite to any financial plan. If your Goal is to buy a new smart television, name your Mutual Fund as “My New Smart TV Fund”. This will help you avoid distractions from investing.
Consider Infl ation
Foreign education overseas for your child cost a few lakh rupees not long ago. Now it runs into crores. A flight from Delhi to Mumbai was Rs.140 in 1947**. Now, you will have to pay approximately Rs.6,788. Similarly, the cost of healthcare surges over time. Inflation is your enemy number one.
Seek Financial Advice
Financial advisors are professionals who study the market. They can guide you about good schemes. They even keep a track of your Fund and help you get maximum returns.
Invest for Emergencies and Retirement
Uncertainties can eat out your savings and retirement is an inevitable life-Goal. These Goals can help your other Goal-based investments stay on track. By building your strong retirement corpus, you can even retire early.
Diversify your Portfolio
Different assets have different risk-return profi les. For example, Equity-based Funds witness short-term volatility but can give high returns in the long run. Similarly, Debt or Liquid Funds are relatively low-risk category investments. You must have a balance of these assets to balance your risk and return.
Long-term is the Key
The earlier you start, the better your corpus gets, due to compounding. The secret to long-term financial independence is long-term, regular investments.
Plan your Exit Strategies
You plan your investments for your Goals. However, after reaching your fi nancial Goals, you need to plan your Fund exit strategies as well. You can plan a separate exit strategy to match every Goal.
utiswatantra.com is a UTI Mutual Fund investor education initiative
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
All the data/information shared above has been collected and compiled by UTI Swatantra's media partners - BCCL (Times of India, ET Wealth), One India (ABP, HBL, Hindustan, HT, Mint, Sakal, The Hindu, The Telegraph), ET NOW & Radio One . UTI Mutual Fund (acting through UTI Trustee Company Pvt Limited) / UTI Asset Management Company) owes no responsibility/liability whatsoever in this regards. The information contained should not be construed as forecast or promise.
Any investment decision taken based on the information provided in the content above shall be at sole risks, cost and consequences of the user.