6. Real estate investment can be good option: Real estate sector went through all sorts of difficulties due to economic slowdown in 2013. Also high interest rates on home loans and increasing property prices made investment difficult for the investors. In simple words real estate revival depends on the economic growth and the economy depends on the new government that takes the charge this year. Thus if the new government is capable of controlling inflation then there are chances that the central bank might cut down the rates on the home loans and make them more affordable. Thus it is advisable for the buyers to make use of all the current opportunities available. Individuals wanting to invest in real estate can also get the advantage of the current price discounts but they must stay invested for three to five years to be able to earn a decent return. Also, keep in mind that only surplus need to be invested in this asset class instead of the borrowed capital as it will help you to deal with all the financial difficulties while selling your house.

7. Choose your insurance policy wisely: One of the best thing you can you do this year is to open an e-insurance account with any of the five insurance repositories approved by the Insurance Regulatory and Development Authority. After opening an e-insurance, convert your life insurance policies into demat form. By doing this you can monitor all your policies and transact them easily and also no cost included for the policyholder. This facility was available initially for life insurance plans but will eventually be extended to general insurance policies as well. Despite of the changes by IRDA, both endowment and money-back policies failed to make great investments. Therefore, it is always better to be careful while buying or choosing any life insurance policies.

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