Himani Chowdhary Instagram – April Fools ❌ FY 2024-25 ✅
FY24-25 ki aap sabko hardikk shubhkaamnaye ✨
Is saal theek se investment karlena ☠️
So ideally you should do your financial planning in April every year so that your financial goals are aligned with the financial calendar.
Do these 3 Things this time 🔽
1. Review & Rebalance
* Gather your financial statements: Collect bank statements, investment account statements etc.
* Review your goals: List your short-term (less than 5 years) and long-term (5 years) financial goals. Be specific with amounts and target dates.
* Check asset allocation: Calculate your current asset allocation (percentage in stocks, bonds, cash, etc.). Compare it to your target asset allocation based on your risk tolerance and goals.
* Rebalance if needed: If your asset allocation has strayed significantly, buy or sell investments to bring it back in line with your target.
2. Plan for the Future
* Research Tax saving options: Depending on your location, explore tax-advantaged investment plans or deductions offered by the government or your employer.
* Review Life/Term Insurance : Consider your current life situation (dependents, income, debts) and see if your life insurance coverage is adequate. Get quotes if needed.
* Review Health Insurance: Check your health insurance plan for coverage adequacy and exclusions.
3. Grow your Wealth
* Increase SIP amount: If you have a Systematic Investment Plan (SIP), consider a bump in the monthly contribution amount.
* Calculate potential increase: Based on your income increase, see how much more you can comfortably invest each month.
Share this information and save it for future reference
#2024 #investment #insurance #tax #personalfinance | Posted on 01/Apr/2024 12:28:29
