10 Investment tips

Kick start your new year with expert financial advice that will help you secure your money and open up your investment option 

Kick start your new year with expert financial advice that will help you secure your money and open up your investment options.

• Get yourself a financial plan this year. An ideal plan gives you a complete picture of your current investments and liabilities, your net worth, cash flow, goals and a specific way to achieve those goals.

• Start budgeting. It helps you break down your spending and compare it on a month to month basis.

• Start an SIP. It is a proven instrument for long term investments for steady returns.

• Invest in gold. Now is the time to do it as the prices have dipped due to absence of buyers. This is one investment that always pays off.

• Make your heavy investments right at the beginning of the new financial year so that you can maximise on the interest rates.

• If you have not invested in insurance yet, now is the time to do it. Get a life cover and also a health cover. Not only are you saving on your taxes but you are also securing your future.

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• Determine your asset allocations and diversify, as it is the key to minimising risk.

• If you invest directly in stocks then adopt rupee cost averaging where you fix a certain amount of money for a stock and buy at regular intervals regardless of the price.

• Buy a house. This way not only do you save rental, but you also up your asset worth by investing in property.

• Don't be compulsively obsessed with tracking your portfolio as it can cause unnecessary panic.