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5 Mistakes to Avoid while making investments !!

ULIP plans offer the flexibility of market linked returns on your investments and life insurance cover for you and your family. <br>https://www.bajajallianzlife.com/ulip/ulip.jsp<br>

Ritikashah11998
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5 Mistakes to Avoid while making investments !!

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  1. ULIP

  2. 5 Mistakes to Avoid while making investments !!

  3. 1.Investment in a ULIP • “First mistake I did was investment in ULIPs, pre and post 1st Sep 2010. Prior to 1st Sep 10, an agent told me that ULIPs will become unattractive from 1st Sep, and thus, the right time to invest in ULIPs is now. I got convinced and invested in it. Later, the same agent came with a new Best Ulip Insurance Policy stating that ULIPs have become much better now and thus I should buy one more ULIP from him. • Later on I realised that both the ULIPs were totally uncalled for and were a perfect • 2.Taking too little risk • “Second mistake was to keep most of the money in idle avenues like savings account, bank FD, endowment plans etc for a long time. • These avenues gave me poor returns, whereas inflation kept eating my money by 8-9% every year.” • 3.Not saving / investing beyond Rs. 1.20 Lakhs • “Third mistake was to invest solely with the purpose of tax saving. This not only restricted my choice of funds, but also restrained me from saving and investing more.

  4. I am earning close to 7-8 Lakhs per year. Having said that, my annual savings should be around Rs.2-2.25 Lakhs which may be invested in asset classes not qualifying for tax saving, but still giving good returns in the long term.” • 4.Investing at a wrong time • “Fourth mistake was to invest lump sum amount every year, just before 31st March ended. This usually resulted in investing at a higher market level and could never get the advantage of rupee-cost-averaging. Also, to make this money available, the savings were lying idle in the savings account for the entire year. • 5.Investing without Goal Planning • “Fifth and most important mistake I did was investing without having goals and without any plans. The entire focus was on, ‘there is some idle cash with me, let me pay the premiums

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