New Delhi: Diwali or Deepavali is considered as the occasion of prosperity and making a move in trading and investments is regarded as auspicious. While the country’s economy is gradually coping up with the onslaught of Covid-19 pandemic, people have begun to invest. At this crucial juncture, financial discipline and proper investment plan are essential to keep the monetary health sound on the individual level.
Here are experts’ tips for Diwali 2021 investment.
Shashank Udupa, Financial Expert, Co-Founder and CFO at Scenes by Avalon said, “Deepavali has always been a time where people invest and buy gold. My Deepavali recommendations – to invest some money in sovereign gold bonds (SGB’s), some allocation in index funds and buy some large cap stocks that are currently at discount due to the recent market correction and hold them for a long period of time.”
Raj Shamani – Entrepreneur, Digital Content Creator, Investor & Podcaster said, “Diwali and wealth go hand-in-hand. It is a new year for many and it is said that if you start something new or purchase new things on Diwali your whole year will be prosperous. That’s why we see a surge in the purchase of automobiles, electronics, properties, and even FMCG products during Diwali. Planning and investing in these sectors will make your Diwali affluent. This year, we might also see a new trend emerging as people invest more in bitcoins rather than gold.”
Niyati Mavinkurve, Digital Content Creator and Co- founder of Let’s Make You Rich said, “One finance tip that will help for not only this festive season but in planning your entire portfolio is to plan for your goals. These include short, medium, and long term goals. Any money you need to spend in the next 3 years is a short term goal, anything between 3 to 5 years is a medium term goal, and anything beyond 5 years is a long term goal. Invest based on your goals, and review them periodically. This financial discipline will ensure you can comfortably spend on the things you want and not be short of money.”
Neha Nagar- Digital Content Creator and Founder of TaxationHelp said, “People tend to buy new things on Diwali. But one must have a financial plan and execute accordingly. Coming out of a pandemic, one should invest their money in revenue-generating assets. It’s our responsibility to take advantage of the season by investing and spending wisely rather than crying. Just like cleaning your house during Diwali, one can apply the same ritual in their portfolio. One can remove the stocks that are not in sync with our goals and rebalance their portfolio. From an investment perspective, invest in pure gold or silver. Prices are likely to remain strong and are expected to rise in the long run. Although, investing in Real estate and Gold is a good option, but investing ONLY in Real estate or Gold is Risky.”