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Important Tips for investment planning When it comes to investment planning in India, there are many things to be considered. Bef ore you can start investment, it is important to set aside a certain amount of the money as savings. T hen, it is essential to choose the right sectors f or making your investments and choose systematic and diversif ied plans. Read on to explore how you can carry out successf ul investment to get the best returns. T he f irst thing is to save suf f iciently and ef f ectively. Emergencies can arrive without any notice and it is important that you set aside some of your earnings. It is most important to have suf f icient savings to cover all your monthly expenses f or minimum 3 months. And this f und must be invested in instruments that could be accessed instantly if you are in need of cash. One of the best things would be to keep this money in your savings account. When it comes to investment plans, choose the right sectors. Pension and retirement and education plans are one of the saf est ones. T hey can provide cover f or education of your children, lif e cover and retirement. T hese plans would also help you get tax exemptions, which would reduce your existing tax payouts. T he ideal investment tools would be insurance plans that of f er lif e insurance with riders f or investing the premium. T he next strategy is to invest in a systematic or diversif ied investment plan. your investment approach is def ined mainly by the level of risk tolerance you have. If you are open to taking risks, it would be best to invest in equity-based f unds. If not, then bonds-based mutual f unds are the perf ect options. Bef ore choosing any investment plan, make sure to consider your investment objectives. Buying a house can also prove to be a great investment option. T here are two reasons f or making this investment. First, the value of your property would keep increasing in value with time. Second, the interest and the property taxes paid by you would be tax deductible. PDFmyURL.com
Next, the deposits made in your savings account in a bank can also prove to be a good investment. Make sure to keep some of your money in your savings account. T he interest rates f or savings accounts have increased over the years. In addition, the interests up to Rs. 10,000 f rom these accounts are now exempt f rom tax. However, Time Deposits wouldn't of f er this benef it. If you are looking f or the best investment advice, it would be ideal to consult an investment prof essional. In addition, make sure to consider the abovementioned tips, because it is around these points that most of the investment strategies are created. So choose your investment tools caref ully, and you could accumulate money in the long-term. Tags: investment advice, investment plans
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Published on Jul 23, 2013
When it comes to investment planning in India, there are many things to be considered. Before you can start investment, it is important to s...