Apna Dhan Financial Services (@Preeti-Apanadhan) 222 Followers 23 Oct

SEBI Registered Investment Advisor, Fee-only Planner

Personal Finance 683 2

There is no special or right time to start managing your finances for your retirement as well as other financial goals.

But if you are still finding a good time then there is no better time than Diwali which is at our doorstep.

Diwali is the biggest Festival in India. All 5 Diwali days are considered auspicious for shopping, booking houses, starting new businesses, and buying vehicles.

We all can also start taking our finances seriously this Diwali and mark it as a new start.

The sooner you start investing the better will be your wealth creation.

Diwali is a good time to start learning about basic concepts of financial planning such as

# Risk profiling,

# Asset allocation,

# Goal-based investment,

# Review and Rebalancing, etc.

All these terms are important to plan your investments in a proper way.

If you are naive and want to start your investments this Diwali then first

# Identify your financial goals

# Fix the investment horizons

# Decide the asset allocation for every goal

# Select suitable financial products

For short-term goals, one can use RDs, FDs, liquid funds, and money market funds along with Arbitrage funds.

For mid-term along with these products, one can add hybrid equity funds.

For long-term goals, you can have a blend of EPF/ PPF/ NPS along with Index Funds, Flexicap Funds, and small exposure in mid-cap.

One can have exposure to SGB, Gold ETF, or Gold Mutual funds for diversification in the Gold asset class.



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