The best kind of insurance is the one that comes prepared with diverse cover while offering the necessary flexibility that one might need in future. Conventional investment plans often prove inadequate to provide adequate returns and are often risk laden. One’s personal investment portfolio must have multiplicity to ensure against unforeseeable circumstances.
Achieving big goals starts with small steps
As one gets older, there are financial milestones to be met at different stages of life. Many major milestones like paying for a child’s education, and planning for one’s own retirement could be long-term in nature, while certain other goals like arranging emergency cash or a down payment for a home loan could be short- to medium-term. No matter how big or modest your goal is, if you start saving smartly at an early stage, you can achieve them with ease. Being a wise investor means making your money work harder for you.
Emergency fund: A safeguard against the unexpected
Unexpected situations always arise without warning and one’s preparedness is the only way out of it.There is a need to meet emergency expenses at the short end of the life cycle, which necessitates funds being liquid and readily available. Similarly, for medium-term goals, you will want to park money in investments that will allow you to steadily grow your money while exhibiting lower volatility. What you should do to meet such short-to-medium term obligations is to use debt assets that can keep your money liquid, accessible, and less volatile.
Invest in debt and equity
To achieve your long-term goals, you must leverage the potential of equities in addition to debt assets. To do so, first, determine your long-term goal and then calculate the inflation-adjusted amount needed to achieve it. Finally, figure out how much money you’ll need to invest in equity-backed assets, on a regular basis to build a corpus to reach your goal.
Achieve financial nirvana with Sampoorna Nivesh
If you are looking for a single investment that can manage all of your short, medium, and long-term goals by investing in debt and equity asset classes, the unit-linked insurance plan is the way to go (ULIP). Sampoorn Nivesh of HDFC Life is that one financial product that can handle all of your insurance, savings, and tax-saving needs.
Sampoorn Nivesh offers features like partial withdrawals and multiple fund options to help you meet multiple savings goals like wealth creation, retirement, or child education. You can park money (premium) across Sampoorn Nivesh’s various fund options, such as Liquid fund, Income fund, Equity fund, and Debt fund, depending on your financial goals.
Investing in Sampoorn Nivesh makes portfolio diversification simple. Sampoorn Nivesh’s equity fund options will help you generate wealth over time, while debt funds will help you preserve the corpus to meet financial goals. As Sampoorn Nivesh continues to build wealth over time, the premium paid allows you to save tax in the current fiscal year under Section 80C of the Income Tax Act,1961. In addition to these benefits, the policyholder receives life insurance coverage.
By investing in Sampoorn Nivesh, one develops a saving habit that allows them to comfortably achieve their goal. Sampoorn Nivesh may be that one Ulip which can assist you in achieving all of your financial goals at various life stages. As a prudent investor, avoid procrastination and start now to let your money work for you as soon as possible. Purchasing Sampoorn Nivesh will assist you in doing just that – for a more organized financial life in the years ahead!
