Investment planning is the process of identifying your financial goals and devising a strategy to achieve them. It involves aligning your goals with your financial resources and risk profile to find the best investment products that suit you. Investment planning doesn’t end with investing and also includes monitoring the investments at regular intervals. Simply put, an investment plan will help you achieve your financial goals by guiding you throughout your investment journey.
1. Inculcates the habit of saving
2. Offers financial security
3. Increases financial awareness
4. Helps maintain and improve the standard of living
5. Manages income and expenditure efficiently
1. Assess your financial situation
2. List out your goals
3. Assess your risk tolerance level
4. Understand different investment options
5. Determine your asset allocation
6. Build your portfolio
7. Monitor your investments
1. Make a budget
2. Must Have an emergency fund
3. Take life insurance and health insurance
4. Understand the market
5. Invest regularly
6. Start early
7. Increase your investments every year
8. Take help if necessary