New Year Investment Planning: New year has started and people have started working according to their new planning.
Many of us must have been planning to earn more money for the new year. Because in the Corona era last year we have lost a lot. 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.
The year 2020 was very challenging. Many challenges came from common man to investor. The market saw a lot of ups and downs.
Now that the new year has started, a lot has become normal, in such a situation, we will have to make our financial planning anew and focus on more savings, more returns.
Hemant Rustagi, CEO of WiseInvest Private Limited, is telling us some formulas for tax saving and savings.
Investment and Tax Saving
Now is the time to invest for tax savings. If you plan the tax properly, you will get profit along with saving tax. For this, first calculate your tax liability. Along with tax liability, also see risk profile. Now choose the right instrument as per the requirement under 80C and invest in it.
Profit is also to be made with tax saving. 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.
Hemant Rustagi’s preferred funds for investing in ELSS are the Axis Long Term Equity Fund, the IDFC Tax Advantage Fund and the Mirae Asset Tax Saver Fund.
Invest in Mutual Funds in the New Year
In the beginning of the year, investors take two important steps. First, maintain investment and asset allocation according to the goals. 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.
For large and midcap funds, investment in Kotak Equity Opportunities Fund, Canara Robeco Emerging Equities and Axis Growth Opportunities Fund is advised.
Focused fund in portfolio
Some focused funds performed well in the Corona era. They have performed better than diversified funds. Focused funds are diversified at their level. Therefore, one can include focused funds in the portfolio.
For focused funds, you can invest in Axis Focused 25 Fund, Mirae Asset Focused Fund and Kotak Focused Equity Fund.
Higher profits at less risk
If you want less risk and exposure to equity, then dynamic asset allocation is a better option. Allocation in equity, arbitrage and debt.