A story of love, loss and second chances by Nikita Singh, releasing this Valentine’s Day.
Are you taking care of the calcium needs of your child ?
Ladies, are you looking at your own finances? Here’s what you need to know for investing, and it isn’t really rocket science.
Be it homemakers or working women, they have many reasons for not getting involved in finance and investments. But the most common one is – I don’t understand it, it is too complicated, my husband/brother/father handles it for me, they know it well. Well, don’t blame you, it can be intimidating, but don’t let that discourage you from handling your finances.
According to me, articles, news and views about business, economics and the finance mumbo-jumbo that is all over newspapers and TV should not concern you at all. So it’s okay if you do not understand any of the jargon that is given there. Leave all those technical details to professionals like your financial advisor, fund manager, stock brokers, etc. who are handling your investments.
All you need to understand is Yourself! What you want, what your aspirations or goals are, what would you like to do in future, how much can you invest regularly, how much risk you are willing to take and such.
The investment journey in a way helps you discover yourself! Who would have thought that!
Once you know yourself well enough, the investment journey becomes simpler. So you may think how?
Firstly, I would recommend hiring a Financial Advisor who can help you with choosing the right investment products. It’s their job to help you understand your investment needs and guide you through your financial journey.
That done, you need to spare about one hour every quarter to monitor and review your investments. Fix a specific day every quarter with your Financial Advisor to discuss your investments. Surely, you can do that much, after all you have worked hard to earn that money! These meetings helps in two ways, firstly you are in control of your investments and secondly you will see that you get more comfortable discussing your investments after a few meetings.
So how do you review your investments? You need to answer these questions
If the answer to the above questions are yes, great, you’re on track. If there’s a discomfort about any one of the above questions, you need to immediately flag off your advisor. You’ll need to once again discuss various options and put it back on track.
The other common reason that people give is that someone from the family or friend circle invested in Mutual funds, stocks etc, and lost money. Surely that could have happened, but then that’s probably because they didn’t understand themselves well enough!
Published here earlier.
Image source: pexels
Women's Web is an open platform that publishes a diversity of views. Individual posts do not necessarily represent the platform's views and opinions at all times. If you have a complementary or differing point of view, you can request to be a Women's Web contributor too!
I have been in the finance and investment field for the last 15 years. I
This Is Why It Is Essential To Teach Your Daughters To Handle Their Own Finances
How I Ensured My Financial Health Single-handedly, And How You Can Too!
Ladies, Make Some Smart Investment Decisions In The New Year!
Discard These 9 Excuses Many Women Give To Sidestep Active Involvement In Financial Investment
Stay updated with our Weekly Newsletter or Daily Summary - or both!
Sign in/Register & Get personalised recommendations