SWe have observed many people doing below blunders, which wastes their time and opportunities of growing money.
Investing only for tax saving: Many people will invest at the last minute for tax saving, without direction, goal, considering returns or suitability of the investment.
Investing without financial planning: People invest without any financial planning, based on some friend or relative’s advice without knowing their investment goals, and with no direction.
Forget about goals: Sometimes, people forget their goals and are carried away by negative news. It’s advisable to be disciplined and focused throughout the investment journey.
Choosing products without careful examination: They invest without proper research and don’t check whether their investment objectives match the investment schemes.
To try to time the market: It’s better to invest using SIP and stay invested for long to reach your financial goals without trying to time the market.
Stopping SIPs when the markets are down: Continue investing across market cycles by keeping your emotions under control.
Reshuffling portfolio too often: Frequent churning of the portfolio will dilute the investment objectives and attract capital gain taxes, exit loads, stamp duty, STT, etc. and reduce returns.
Put all eggs in one basket: Not diversifying investments. They have to be spread across debt, equity, gold, and real estate. All asset classes won’t perform in the same direction/ fashion.
Failing to consider the effect of inflation: Not considering the impact of inflation on investment portfolio may eat away your wealth to a great extent.
By Team Wealth ATM
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Mutual fund investments are subject to market risk. Read the scheme related documents carefully.