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Common mistakes every investor should avoid

Brand Story by L&T Mutual Fund
Brandwire|
Dec 13, 2019, 05.50 PM IST
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Financial_mistakes_which_should_be_avoided.pdf-1
Financial mistakes which should be avoided.pdf-1

We all have shortcomings when it comes to managing finances. There is a whole host of mistakes people make with their finances. It will be better off if we first identify and set financial goals. This will enable us to have clarity about our investment requirements. We should start early, take financial planning seriously and should not postpone investing for your financial goals.

Another mistake which first time investors commit is not hiring a financial advisor. If you're a new investor, a financial advisor can help you determine the proper asset allocation to fit your lifestyle. If you currently have an investment portfolio, a financial advisor can evaluate your existing investments and determine if they are still appropriate for meeting your short- or long-term goals.

It is also essential that we have basic insurance coverage. This is one of the most common financial mistakes that people make. It is important to realize that basic insurance like term insurance, adequate health insurance to safeguard our assets and finances from an accident or another damaging situation.

In the infographic we’ll take a look at some of the most common financial mistakes that lead people to economic hardship – made more difficult in today’s world. Whether you’re in fine financial shape or already facing financial difficulties, steering clear of these mistakes could be the key to survival.

An Investor Education & Awareness Initiative

Disclaimer – This document is for general information only and does not have regard to specific investment objectives, financial situation and the particular needs of any specific person who may receive this information. This document provides general information on performance; financial planning and/or comparisons made are only for illustration purposes. The data/information used/disclosed in this document is only for information purposes and not guaranteeing/indicating any returns. Investments in MFs and secondary markets inherently involve risks and recipient should consult their legal, tax and financial advisors before investing. Recipient should also understand that any reference to the indices/sectors/securities/schemes etc. in the document is only for illustration purpose and should not be considered as recommendation(s) from the author or L&T Investment Management Limited, the asset management company of L&T Mutual Fund or any of its associates. Recipient of this information should understand that statements made herein regarding future prospects may not be realized or achieved. The distribution of this document in certain jurisdictions may be restricted or totally prohibited and accordingly, persons who come into possession of this document are required to inform themselves about, and to observe, any such restrictions.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.


Disclaimer: Content Produced by L&T Mutual Fund

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