Add shades of colors to your Investment

The festival of Holi is here, and as every Indian, we’re just as excited as you are! There are lots of things that make Holi special, be it playing with vibrant colors, eating several authentic Indian cuisines and sweets, spending time with loved ones amidst laughter and chatter.

Here’s a food for thought (or gujhia, if you’re into it):

Do you know Holi has a very strong connection to financial planning?

Sounds crazy? Well, let us explain!

The festival of Holi comes around the end of the financial year. It is a clear indication that a fresh beginning should be made when it comes to your investment portfolio/financial life. The past financial year should be taken into consideration and it should serve as a basis for things to improve financially and investment-wise in the coming financial year.

Not only this, there are several other things that Holi will teach you. So start following our trail of colors, as we share some interesting tips!

– Don’t risk it all and play safe

If proper measures are taken, Holi’s zeal will triumph. Any festival should be approached with caution. Ideally, one should use organic colors that are not harmful to the skin, organs, or well-being, and have the least negative impact on health. This way, the festival, and celebration will be remembered for years to come.

Similarly, it is best to invest if you are aware of a financial counselor who is also knowledgeable in this area to have the least impact on your money. Buying quality mutual funds/stocks aid in the accumulation of wealth.

FinMapp can be your perfect financial counselor which will suggest stocks and mutual funds to invest in according to your risk profile.

– Get rewarded by staying invested

Just as you wait a whole year patiently to celebrate your favorite festival, a long and patient wait is also expected when it comes to your investment portfolio.

You may make the decision of staying invested for your investments to grow and be able to offer you better returns, as wealth building does not happen overnight or over a few weeks. You can reap the benefits of your investments if you are patient and persistent.

– Diversify your investments, just like the colors of Holi

Imagine a scenario where you had to play Holi with only one color!

Pretty mundane, right?

Just like the festival of Holi, you need to be diverse and vibrant with your investment strategy. A balanced strategy to optimally diversify asset classes in an investment portfolio may result in improved yields and risk diversification.

– Spend some time learning about finance, as you spend time with your family

The best part about Indian festivals is that you get to catch up with your family, relatives, and friends. You get to converse, learn about something new in their lives, share your personal stories as well, which shapes your social character.

As you prepare for the coming of a new financial year, you can set some time aside to learn about new things in the world of finance, which would help you out in the long run. This will shape your financial/investment character and you can only expect good things in return from it.

– Learn investment lessons from the last financial year and improve upon them

This is a good time to review the past financial year and put things into perspective, i.e. where you stand financially in terms of your investments.

One should also analyze their investments or investment portfolio regularly. Examine the performance of the stocks that were previously underperforming to see if they are still aligned with your financial goals, and determine whether or not new equities should be added to the portfolio.

Bottom of the line:

By following these financial tips, you’ll be able to add more colors to your investment strategy/financial life. We wish you a happy and wonderful Holi with your friends and family, and if you found these tips useful, feel free to share the blog!