So, where does one begin?
Before you get into looking at the investment options available, it is important to assess and lay down your ‘investment objective’. This sounds rudimentary but avoiding this can lead to investing without focus and eventual financial loss!
Do you desire appreciation of your capital?
Or, are you looking for regular income?
How willing are you to take risks?
The answer to these questions will help you determine an underlying theme behind all your future investments. There are many websites and/or investment advisor who can help you determine your investment objective.
Some common investment objectives are:
These are some commonly defined investment objectives. Every investor has a specific objective which needs to be identified.
Once the investment objective is defined, then you start looking at investment options that match your financial goals. Some such options are:
SAVINGS ACCOUNTS | BANK FIXED DEPOSITS | POST OFFICE SMALL SAVINGS SCHEMES | PUBLIC PROVIDENT FUND | DEBENTURES | BONDS | COMPANY DEPOSITS |MUTUAL FUNDS | LIFE INSURANCE POLICIES | EQUITY | REAL ESTATE | GOLD AND MANY MORE.
Investment is a journey and not a destination. Prepare well before you set foot on this journey and improve your chances of earning good returns.