Investment Mistakes to Avoid In 2020
Investment Mistakes to Avoid In 2020 To protect your money box in 2020, here are 8 financial mistakes you should avoid. 1. Investing without a Plan One must have a clear goal before starting to invest. What are your goals? How many years away is the goal. How much is to be invested in which assets to reach the goal in the given timeframe. These are the questions you must answer before starting investing. Once you have a goal and an asset allocation in place, the difficult part of the job is done. The easier part is to find which products to invest. 2. Failure to create an Emergency Fund We all take it for granted that by the first of every month we will get the salary to splurge on. Before you start investing, the first thing to be done is to create an emergency fund which should be a minimum of 6 months expenses that include the EMIs if you have a loan. If you are in a business where your income is not regular, it is recommended to have an emergency fund of 1 year’s expen...