Now think like this, you are driving a car without knowing the importance of A, B, C (Throttle, Brake and Clutch) and shifting gears at the right time and at the right speed, the result would be an accident that will leave you with you. with bad memories and you would think twice before you start driving again. Instead, the best way would be to first understand the synchronization between all with the help of an expert who will not only make you understand the synchronization between all but also make you understand the traffic rules so that mistakes or incidents can be avoided in the near future.
Likewise, before you start saving and decide to invest in any of the regulated products, you should know the basic characteristics of the products – like the risk and volatility associated with them, will this help you. it to achieve your long term goal. or short term goals, what are the chances of loss and most importantly, will you be able to manage your behavior in difficult times without any proper grip.
After knowing all the basic information and features, you should also know the right mix of products that will give you optimum returns.
In a nutshell, the caveats – like consulting an expert, making your risk profile, understanding the market dynamics, risk and volatility associated with products, the right mix of products must also be highlighted which will cement the efforts. fintech apps and financial inclusion in real good sense and hard earned money can be better funneled.
Views are personal: The author is Vidit Bhura, partner at JNV FINANCIAL SERVICES LLP in Jaipur.
Disclaimer: The opinions expressed are those of the author and are personal. TAML may or may not subscribe to it. The opinions expressed in this article / video are in no way intended to predict or time the markets. The opinions expressed are for informational purposes only and do not constitute investment, legal or tax advice. Any action taken by you based on the information contained in this document is your sole responsibility and Tata Asset Management will not be responsible for the consequences of any such action taken by you.
Investments in mutual funds are subject to market risks, carefully read all documents relating to the plan.