Investment Planning: A general budget is being introduced. There are many people who will prepare their financing planning after seeing the budget. We lost a lot in the Corona era last year. All the people have lost their jobs, the jobs have been lost, the salary of those who remained on the job has reduced, and do not know what the problems are.
Now that we are recovering from the brunt of the corona epidemic, the situation has become quite normal, in such a situation, we have to make our financial planning anew and focus on saving more, more returns.
Investment and Tax Saving
Time is on to save tax. We still have time to invest to save tax. If you plan the tax properly, you will get profit along with saving tax. First of all, calculate your tax liability. Now choose the right instrument as per the requirement under Section 80C of Income Tax and invest in it.
Profits with tax saving
To save tax, when we are investing, then choose such an investment which also makes us income. For this, Equity Linked Savings Scheme (ELSS) of mutual funds is a better option.
Investments in ELSS are tax deductible under section 80C. The Equity Linked Savings Scheme also has a lock-in period of 3 years. It is better to invest in it through SIP.
Invest in Mutual Funds
Maintain investment and asset allocation as per the goals during financial planning. Rebalance the portfolio only if you are close to the goal. Expect to do better than midc and smallcap largecap. Here you are advised to increase allocation in mid and smallcap. If there is a problem in allocation, take large and midcap funds.
Focused fund in portfolio
Some focused funds performed well in the Corona era as well. When the whole world was sinking, some funds were giving good returns. They performed better than diversified funds. Focused funds are diversified at their level. Therefore, one can include focused funds in the portfolio.
Retirement planning for retirement
Retirement planning must also be kept in financial planning. Experts for retirement planning say that retirement planning should start from the first salary. Because the sooner you start investing, the more money will be made.
