Money Rules for the New Year
18 Jan 2024
Money Rules for the New Year
Large-cap companies typically have established track records, strong financials, broad operations, making them attractive to investors especially due to their less volatile nature relative to mid & small-caps.
Four Reasons to Consider Large Caps
Crafting financial resolutions for the new year cultivates discipline, fosters savings, mitigates debt, ensures financial security, and articulates a strategic roadmap for the realization of long-term objectives, thereby enhancing comprehensive financial well-being. Here's a refined four-point strategy to guide you in the New Year
Four Ways to Take Control of Your Finances
Don’t Forget Asset Allocation
Given the robust surge in equity markets, it is probable that investors' portfolios may exhibit a pronounced inclination towards equities. It is now opportune to reassess and reallocate funds in accordance with your risk tolerance and investment objectives.
Build an Emergency Fund
Life unfolds with unforeseen twists that, at times, may exact a substantial financial toll. Establishing financial safeguards to mitigate these unexpected turns emphasises the necessity for most households to create contingency funds
Make SIP The Centre-piece Of Your Financial Plan
When it comes to automated savings, regular investments in equities, financial discipline, risk mitigation, and sustained wealth creation, there is nothing that can match the humble SIP.
Retirement Planning Is A Must
Saving for retirement requires early financial planning. Calculate your estimate post-retirement income and invest accordingly after consulting a proficient financial planner.
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully. The information provided is generic in nature and is for informational purpose only. Please consult your financial advisor before taking any decision.
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Disclaimer
The contents of this article/infographic/picture/video are meant solely for information purposes and do not necessarily reflect the views of Bank of Baroda. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Bank of Baroda and/ or its Affiliates and its subsidiaries make no representation as to the accuracy; completeness or reliability of any information contained herein or otherwise provided and hereby disclaim any liability with regard to the same. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject Bank of Baroda or its affiliates to any licensing or registration requirements. Bank of Baroda shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.
