7 Biggest Financial Mistake we commonly do

Here we’ll take a look at some of the most common financial mistakes that often lead people to major economic hardship. Even if you’re already facing financial difficulties, steering clear of these mistakes could be the key to your Wealth Creation.

  1. Money lying idle with bank in SB Account.
  2. Investing in a product like FD which gives returns lower than Inflation.
  3. Investing all the money in one Asset Class. Remember Diversification is the Basis of Wealth Creation.
  1. Continuing with the Insurance Cover which is not adequate anymore, if your liability and earning increases, you got to review and increase your Term Insurance Cover.
  1. Starting Retirement Planning too late in your life, Remember the compounding effect can be in your side, if you start your investment early.
  2. Investing only to save Tax, not for the Future Financial Goals.
  1. Not having a Professional Financial consultant to review your investments once a year.

 

Helping people to Increase their Networth and Wealth.

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Sathish Kumar

Wealth Consultant

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Email: Sathish@vizhi.net

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