Hello Friends,
There is a formula called 6P's - "Proper Prior Planning Prevents Poor Performance" and it is very useful in all aspects be it in business, finance, travel or in life.
Today I met one of my client's friend he was rushing with papers in mid of confusion, when asked he said 14th of Jan will be his last date for submission of Tax and he has some of good investments and something he was looking for in an urgency and one of his colleague suggested to go for some ULIPS and Long term Fixed Deposits which he was ready to do it. Spent couple of hours and explained about all investment alternatives but he still insisted to go ahead with the same of Long term FD as he wants to follow his friend.
I would like to share some basic tips here before investing :
- Prepare checklist.
- Check whether it suits your specification of your investment objective.
- Choices of Asset Mix - Equity, Debt, Liquid funds, PPF, Pension/Health/Term/Life Insurance.
- Spend time reading the documents which you are investing in,"It is your money and your investments".
- Ensure you are taking all details of the product and do some research or consult the right person (Financial consultant or Professional)
- Avoid cheap products which has been promoted by banks. (Nothing against banks but understand the product before investing).
- Equity or Debt related products cannot be measured based on the past performance, it all depends of the asset mix from the fund and exposure in sectors.
Request you to kindly follow the basic tips and ensure you are on the right financial track.
Since its a Tax season one of the better options I would like to highlight here is ELSS Funds :
Courtesy : Economic Times :
Your Friend
Umashankar.M
9538490099
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