New year resolutions on personal financial planning has been always a ritual for many. But this time around it is nagging several people on account of rising inflation. December end 2010 it recorded over 14% in food category and over 11% in fuel category. Irrespective of category, it eats into persoanl income and savings.
The sensex was at 3975 at the beginning of the decade and ended at 20509.09;
Gold has seen hike in prices too in the same decade. The demand for jewelery, investment and industrial and decorative needs were quite impressive.
Unprecedented debt worries make nations to resort to print money or take fresh debt to pay an old one. We hear stories of PIIGS today and fear competitive devaluation of currencies in the year unfolding.
So, how do you stay floating?
Buy a pension, if you do not have.
Even if you have a PF account, it is fine. If you do not join NPS; or get an index fund for your golden years.
Have an emergency plan.. to take you through an immediate casuality of income loss , may be equal to 3 months. you can find another job in the meantime.
and follow horses for courses. one investment for one purpose. your life goals are distinctively different in term, amount and the value you attach to it. so your investments also sholud be distinctively different in terms of suitable instrument, term, maturity and risk involved.
happy new year, happy investing.
Start Early, Proceed Systematically, Look Long Term
Let Your Money Work For You
All You Wanted to know about money
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