Have an achievable goal in mind
Wealth management also involves knowing what your goals are. If your dream is to own a home or if you want to buy a car, you need to think and plan your investments to generate cash needed for the big-ticket items.
Shares
The lure of big money has always thrown investors into the lap of stock markets. However, making money in equities is not easy. It not only requires oodles of patience and discipline, but also a great deal of research and a sound understanding of the market, among others.
Mutual Fund
A mutual fund is a pool of money from numerous investors who wish to save or make money just like you. Investing in a mutual fund can be a lot easier than buying and selling individual stocks and bonds on your own. Investors can sell their shares when they want.
Real Estate
Real estate investing involves the purchase, ownership, management, and sale of real estate for profit. Real estate is an asset form with limited liquidity relative to other investments
Recurring Deposit
Recurring Deposit is a special kind of Term Deposit offered by banks which help people with regular incomes to deposit a fixed amount every month into their Recurring Deposit account and earn interest at the rate applicable to Fixed Deposits. It is similar to making FDs of a certain amount in monthly installments
Insurance
Insurance is the equitable transfer of the risk of a loss, from one entity to another in exchange for money. It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. The amount of money to be charged for a certain amount of insurance coverage is called the premium.
Fixed Deposit
A fixed deposit (FD) is a financial instrument provided by banks which provides investors with a higher rate of interest than a regular savings account, until the given maturity date. It is also known as a term deposit, time deposit, bond. They are considered to be very safe investments.
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