Though it may sound a bit like Financial planning with a "Wealth manager", it is a very simple concept. Think of savings that you can do every month from your salary. You put it in a recurring deposit account. Over the years, you have been purchasing gold. At some point in your life you purchased a flat, invested in some stocks. Consciously or unconsciously you have built a portfolio for yourself. This was build with some objectives in mind, again done without any formal method.
There are a few aspects that you need to consider while building or designing a portfolio
- What are my financial goals - short term and long term
- What kind of person I am..what makes me nervous, what does not - essentially your risk profile
- What are my avenues for investment
- What is my current state of finances? And what can I plan every month for investments
These are very simple things one can start thinking of. I will discuss each of these in detail, with tools you can use to plan each of these. Keep watching, and keep thinking.
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