Earning money is a lot more easier than investing it. Choosing an investment avenue is a difficult task even for the people in finance sector. Today, there are a lot of Investment avenues available for an individuals, this creates confusion among Investor about which avenue is best suited for them. People avoid investing just in order to avoid taking wrong decision, this is stupid as well as dangerous. Consulting a professional is highly recommended before taking any financial decisions. Creation of a financial portfolio differs for different individuals, it depends on different factors like income, age, family members, required corpus, risk appetite, etc.
A young individual can keep more exposure towards equity, Invest at higher risk and keep low allocation towards debt products. Whereas a person in the age group of 30-40 years needs to be more secured, his exposure in equity should be less as compared to a young individual. Where as a person nearing retirement should be invested more in debt than in equity.
In conclusion, not investing at all is the worst financial decision any person can make. People should create a financial portfolio with proper allocation of Investment between debt and equity products. Starting an SIP or buying a traditional insurance plan does not count as financial planning.
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