Investment Resolutions to Make This New Year
2. Know the Product You Are Investing Into
It is very important to know the products that you are planning to invest into. The investment terms and conditions might be tedious at times but one should remember that these terms and conditions are worth lakhs of rupees. You must have a complete idea how the product functions and the mode of benefit you will be earning from it.
But this doesn't mean that one should contemplate only into one or two asset class. As far as you are sure that you money will ultimately move with the market after investing, it is good enough. Few people invest only in one particular asset like gold or real-estate, the problem arises when the particular market has a fall and the investor is forced into vulnerable situation.
3. Do Not Forget Your Investment
Once you make an investment, this is just the beginning. Investments always need a "what's cooking?" attitude! It is indispensable to check the market the conditions and keep an eye on your money. The results may not be soothing always but few corrective decisions can help you from further loss. Keeping a track of the business and stock market news, articles, brokerage repots can help a lot. As you start approaching you preferred goals the disclosure to unstable assets should be lowered.
Though you should keep checking your investment portfolio once in a while, but there are few 'must check' situations of your's like marriage, child birth, salary hike and loans etc.
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